MANAGING

SOCIETY’S
UNCERTAINTIES

2018 Annual Report

“Looking beyond the value we create

through service excellence”
MASAYUKI TAKAHASHI
 TABLE OF CONTENTS
2
Message from the
President
11
Statements of
Income
22
Board of Directors

6
Company Profile

12
Statements of Total
Comprehensive
Income 40Management
Committee

7 42
Statements of
Changes in Equity
Vision, Mission Corporate Social
Responsibility

13
Activities

8
Our Stakeholders

Facts About the

Company
44
Products and
Services

16
ABOUT THE
Corporate

9 45
COVER Governance
Financial Highlights 2018 Highlights
As one of the country’s leading insurance companies, BPI/MS stands in a good

20
position to contribute to the enrichment of society by managing risks, thereby
allowing everyone to pursue their goals without fear of what may or may not
Our Leadership

10 46
be. Through its innovative and customer-centered products and services, the
Company aims to stand as the society’s soundness amid uncertainty, so no one
would ever have to live in a blur.
Statements of Branch Network
Financial Position

2018 ANNUAL REPORT 1

 DEAR
SHAREHOLDERS,
S ixteen years since
the establishment of
BPI/MS, the Company
has cemented its position as one
of the leading non-life insurance
providers in the Philippines.
Time and again, we have proven
ourselves beyond capable of
bringing security and safety to
individuals and businesses while
contributing to the enrichment
of society—a feat evidenced by
our consistently strong financial
performance over the past many
years.
MESSAGE FROM
The year 2018 saw periods of
market volatility. Inflation rate
reached a nine-year high of 6.7%.
The stock index significantly
THE PRESIDENT
dipped and the Philippine Peso
weakened to a 13-year low against
the US Dollar. Fortunately, by
the final quarter of the year,
2 BPI/ MS INSURANCE CORPORATION
business optimism rebounded
as inflation eased. Even after a
slight economic slowdown, the
country’s GDP growth remained
one of the fastest in Southeast
Asia at 6.2%. The government
continues to be relentlessly
aggressive in its thrust to spur
development through the “Build,
Build, Build” program.
A challenge the industry players
are facing is hurdling the
regulatory requirement for net
worth of P900 million by the end
of 2019. Rest assured that we shall
comply with this requirement.
We also braced ourselves for the
impact of the TRAIN Law. Despite
heftier excise taxes on vehicles,
our motor insurance business
grew by 5.0%.
2018 ANNUAL REPORT
Notwithstanding the challenging
conditions, BPI/MS’ Net Premiums
Written expanded by 2.9% while
Investment Income posted a double-
digit growth of 17.1%. As a result,
Net Income increased by 5.0% to
P448.7 million making BPI/MS a
highly profitable company despite
the tough market conditions, highly
competitive insurance industry and
several large claims. Furthermore,
Combined Operating Ratio remained
low at 87.2%.
To minimize our natural catastrophe
exposure, we embarked in several
initiatives to expand our personal
accident (PA), marine and casualty
lines which posted the highest
growth in 2018. The robust
partnership with BPI allowed us to
offer a very affordable PA product,
with premium of P14.99, to more
than 400,000 BPI debit cardholders.
3
MESSAGE FROM THE PRESIDENT
“
We are proud to say that in
terms of embracing the emerging
As a result, Net Income trend toward digitalization, we
increased by 5.0% to were among the early adopters
P448.7 million making who harnessed the power of
BPI/MS a highly profitable technology to expand our reach
company despite the and to streamline our services.
tough market conditions In 2016, we launched our
e-commerce portal which enabled
our customers to purchase travel
insurance for international trips,
pay premiums through their credit
cards, and obtain a copy of their
policies online—all in as fast as
three minutes. Our 2018 GPW
from e-commerce grew by 114.7%
year-on-year. We are looking to
offer other lines in the near future.
In 2018, we also launched our
business-to-business (B2B) portal
to enable our intermediaries
to request for quotations and
insurance policies anytime and
anywhere.
4 BPI/ MS INSURANCE CORPORATION
Excellent service is important
in retaining our customers. We
are pleased to report that we
successfully transitioned to the
new ISO standard, ISO 9001:2015,
which is customer-focused and
risk-based.
Furthermore, we consistently
nurture a culture of excellence
that emanates from the very soul
of our business—our employees.
We foster an environment full
of challenges that would allow
them to realize their full potential.
In 2018, almost 100% of our
workforce completed the 5-day
training requirement based
on each employee’s individual
competencies. Going a step
further, we sent 14 employees
to attend training abroad and
seconded one employee to the
MSI Head Office in Tokyo, Japan.
Looking beyond the value
we create through service
excellence, we integrate social
and environmental concerns into
our agenda through our corporate
social responsibility programs.
Our Bacolod branch employees
participated in mangrove
planting and coastal cleanup
activities for the benefit of the
communities in San Enrique,
Negros Occidental. Similarly, our
workforce from Iloilo joined a tree
planting project that boosted
the ecological balance and eco-
tourism industry of Bucari in
the mountains of Leon, Iloilo.
We also supported the very first
BPI National Volunteers Day on
August 18 by painting the houses
in Gawad Kalinga villages in
Dasmarinas, Cavite and Sum-ag,
Negros Occidental.
MESSAGE FROM THE PRESIDENT
As 2018 equipped us with and strive for even more. We will
opportunities that poised us continuously improve our business
for the future, we look toward and steadfastly pledge to be a good
2019 filled with optimism and corporate citizen. Let our 2018
intensified vigor to achieve performance be a testament to our
more. Our unwavering effort to commitment to this promise.
sustain growth and profitability,
to improve governance, to
strengthen our internal controls,
to innovate and to develop
our human resources, coupled
with the expertise of our Board
and management team, would
differentiate us from competition
and eventually make us every
Filipino’s insurer of choice.
On behalf of BPI/MS, I would like
to extend our sincerest gratitude
to you, our stakeholders, for MASAYUKI TAKAHASHI
your trust. Knowing that we President and CEO
have your confidence motivates
us to do more, achieve more,
2018 ANNUAL REPORT 5
 COMPANY PROFILE
BPI/MS INSURANCE
CORPORATION
Raising the standard for consumer-
driven insurance services in the
country, BPI/MS provides insurance
protection with unprecedented
strength and stability through the
joint venture of the Bank of the
Philippine Islands (BPI) and Mitsui
Sumitomo Insurance Company (MSI),
one of the largest non-life insurance
companies in Japan. MSI is part of
the MS&AD Insurance Group, one of
the largest general insurers in the
world, with presence in 45 countries
and regions.
SURE AND STRONG
The combined expertise of BPI and
MSI further enhances service delivery
and strengthens market focus all the
while maintaining their stability and
integrity. When it comes to financial
strength, BPI/MS is on solid ground.
BPI, the most financially sound bank
in the Philippines and a leader in
banking innovation owns 51 percent
of the company, while MSI owns 49
percent.
6 BPI/ MS INSURANCE CORPORATION
A TRUSTWORTHY
FOUNDATION
BPI/MS carries with it a strong
heritage of trust from FGU Insurance
Corporation, one of the oldest
insurance companies in the country.
Through the years, it earned and
established its reputation for
stability and integrity as the non-
life insurance arm of the Ayala
Group of companies, of which BPI is
a member. For FEB Mitsui, its roots
in the Philippines started in 1965 as
Makati Insurance, owned by Far East
Bank and Trust Company (FEBTC),
then the company allied with Mitsui
Marine in 1998. Soon, FEB Mitsui
joined the BPI Group after its merger
with FEBTC. Backed by its financial
dependability and quality service,
FEB Mitsui grew to become one of the
top ten non-life insurers.
BEYOND ASSURANCE
Through the years, BPI/MS has
demonstrated its commitment
to becoming the leading non-life
insurance company in the Philippines.
It achieved ISO certification in June
2009 which resulted in more efficient
processes and a deeper focus on
customer service. BPI/MS continues
to maintain its competitive edge by
delivering new innovations for its
wide range of standard consumer-
driven insurance services and
products.
With its security grounded in the OUR OUR
combined expertise and resources of
BPI and MSI and its unflagging pursuit
VISION MISSION
of excellence in all its services, BPI/
To be the leading non-life insurance company in the Through our insurance and financial service business,
MS is more than able to provide the
Philippines in terms of professional competence, we commit ourselves to:
insurance protection that the public
service quality, responsible corporate citizenry and • Bring security and safety to people and businesses
can trust.
overall growth and stability. around the world, and make a lasting contribution
to the enrichment of the society.
• Provide the finest products and services, and realize
customer satisfaction.
• Continuously improve our business, thereby meeting
our stockholders’ expectations and earning their
trust.
• Provide our employees an environment for
challenges, incentives and professional growth.
2018 ANNUAL REPORT 7
 FACTS ABOUT THE COMPANY FINANCIAL HIGHLIGHTS
FOR THE YEARS 2018 AND 2017 (IN THOUSANDS OF PHILIPPINE PESO)

10 IN LUZON
15
NUMBER OF BRANCHES Increase/

& SATELLITE OFFICES 3 IN VISAYAS 2018 2017 Decrease %

NATIONWIDE 2 IN MINDANAO Gross Premiums Written

Net Premiums Written
5,815,684
3,042,249
5,942,872 (127,188)
2,956,461 85,788
-2.14%
2.90%
Premiums Earned 2,954,053 2,808,431 145,622 5.19%
Losses and Claims 1,414,684 1,240,744 173,940 14.02%
Commission Expense 403,464 426,690 (23,226) -5.44%
Underwriting Income 1,135,905 1,140,997 (5,092) -0.45%
TRANSACTION General and 758,127 755,929 2,198 0.29%
Administrative Expenses
BAGUIO CHANNELS Operating Income 377,778 385,068 (7,290) -1.89%
Investment Income 232,785 198,763 34,022 17.12%
DAGUPAN
TUGUEGARAO Net Income 448,689 427,504 21,185 4.96%
ALABANG Total Assets 12,891,469 12,837,036 54,433 0.42%
CABANATUAN BRANCHES Total Equity 2,732,353 2,572,517 159,836 6.21%
PAMPANGA
QUEZON CITY
IMUS WEBSITES GROSS PREMIUMS WRITTEN
(in Thousands Php)
NET PREMIUMS WRITTEN
(in Thousands Php)
PREMIUMS EARNED
(in Thousands Php)
UNDERWRITING INCOME
(in Thousands Php)
LIPA NAGA

E-COMMERCE

5,942,872

5,815,684
ILOILO
CONTACT CENTER

1,140.997

1,135,905
3,042,249

2,954,053
2,808,431
2,956,461
CAGAYAN DE ORO

BACOLOD
DAVAO
PAYMENT
CHANNELS 2017 2018 2017 2018 2017 2018 2017 2018
CEBU
INVESTMENT INCOME NET INCOME TOTAL ASSETS TOTAL EQUITY
(in Thousands Php) (in Thousands Php) (in Thousands Php) (in Thousands Php)
CLAIMS
EVALUATION

448,689
427,504

12,891,469
12,837,036
CENTER

2,732,353
2,572,517
232,785
198,763
2017 2018 2017 2018 2017 2018 2017 2018

8 BPI/ MS INSURANCE CORPORATION 2018 ANNUAL REPORT 9

 STATEMENTS OF FINANCIAL POSITION
DECEMBER 31, 2018 AND 2017 (IN THOUSANDS OF PHILIPPINE PESO)
2018 2017
ASSETS
Cash And Cash Equivalents 1,239,326 997,065
Insurance Receivable, Net 2,299,390 2,291,483
Reinsurance Recoverable on Unpaid Losses 3,387,185 3,641,492
Deferred Reinsurance Premium 1,717,861 1,888,610
Deferred Acquisition Cost, Net 77,884 82,882
Available-For-Sale Financial Assets 2,948,822 2,869,286
Held-To-Maturity Financial Assets 700,660 535,191
Other Receivables, Net 63,600 75,551
Accrued Investment Income 37,076 30,345
Property and Equipment, Net 84,513 111,724
Software Costs, Net 10,989 12,661
Deferred Income Tax, Net 273,005 249,167
Other Assets, Net 51,158 51,579
TOTAL ASSETS 12,891,469 12,837,036
LIABILITIES AND EQUITY
Reserve for Outstanding Losses 4,333,306 4,443,142
Reserve for Unearned Premiums 3,474,955 3,557,507
Due to Reinsurers and Ceding Companies 1,392,424 1,331,026
Funds Held for Reinsurers 288,306 252,470
Accounts Payable, Accrued Expenses and 670,125 680,374
Other Liabilities Reversal of impairment loss (2,024) (1,955)
TOTAL LIABILITIES 10,159,116 10,264,519
Share Capital 350,000 350,000
Share Premium 425,972 425,972
Retained Earnings 2,506,393 2,057,704
Accumulated Other Comprehensive Loss (550,158) (261,305)
Stock Options Reserve 146 146
TOTAL EQUITY 2,732,353 2,572,517
TOTAL LIABILITIES AND EQUITY 12,891,469 12,837,036
10 BPI/ MS INSURANCE CORPORATION
STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 (IN THOUSANDS OF PHILIPPINE PESO)
2018 2017
UNDERWRITING INCOME
Premiums written, net 5,815,684 5,942,872
Reinsurance premiums (2,773,435) (2,986,411)
Net premiums retained 3,042,249 2,956,461
Increase in reserve for unearned premiums, net (88,196) (148,030)
Premiums earned 2,954,053 2,808,431
Reinsurance commissions 396,943 362,263
Total underwriting income 3,350,996 3,170,694
UNDERWRITING EXPENSES
Losses and claims, net of reinsurance 1,414,684 1,240,744
Commission expense 800,407 788,953
Total underwriting expenses 2,215,091 2,029,697
NET UNDERWRITING INCOME 1,135,905 1,140,997
GENERAL AND ADMINISTRATIVE EXPENSES
Staff costs 429,599 389,566
Occupancy and equipment-related expenses 170,651 161,623
Communication and postage 39,788 31,606
Professional fees 28,676 30,639
Printing and supplies 21,960 22,210
Association dues 15,010 13,387
Taxes and licenses 11,010 12,324
Travel and transportation 9,911 9,951
Training and development 7,492 5,649
Entertainment 5,762 6,236
Advertising and promotion 5,431 10,657
Interest expense 3,272 2,276
Bad debts written off - 56,964
Others 11,589 4,796
Total general and administrative expenses 758,127 755,929
OPERATING INCOME 377,778 385,068
INVESTMENT AND OTHER INCOME
Interest income 165,883 128,479
Gain on sale of investments, net 13,211 33,636
Dividend income 13,171 15,436
Others 40,520 21,212
Net investment and other income 232,785 198,763
INCOME BEFORE INCOME TAX 610,563 583,831
PROVISION FOR INCOME TAX 161,874 156,327
NET INCOME FOR THE YEAR 448,689 427,504
2018 ANNUAL REPORT 11
 STATEMENTS OF TOTAL COMPREHENSIVE INCOME OUR STAKEHOLDERS
FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 (IN THOUSANDS OF PHILIPPINE PESO)

2018 2017

NET INCOME FOR THE YEAR 448,689 427,504

OTHER COMPREHENSIVE LOSS
Items that may be subsequently reclassified to profit or loss
Changes in fair value of available-for-sale financial assets (264,940) 14,122
Fair value losses transferred to profit or loss (13,211) (33,636)

Item that will not be reclassified to profit or loss

Remeasurement losses on defined benefit plan, net of tax effect (10,702) (11,729)
Other comprehensive loss, net of tax effect 288,853 31,243
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 159,836 396,261

Our Workforce a year, which is monitored on a Each employee has a yearly Individual
BPI/MS is committed to the monthly basis. Career development Development Plan to address the
development and welfare of programs are implemented to ensure gap on the competencies. Training
STATEMENTS OF CHANGES IN EQUITY its employees by providing an professional growth through skills opportunities are equally made
environment full of challenges, and job enrichment opportunities, available to all employees, with
FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 (IN THOUSANDS OF PHILIPPINE PESO)
incentives and professional growth. learning and development programs, provincial staff flown into Metro
SHARE SHARE RETAINED ACCUMULATED STOCK TOTAL performance management and Manila or Subject Matter Experts
CAPITAL PREMIUM EARNINGS OTHER OPTIONS EQUITY
COMPREHENSIVE RESERVE Training and Professional promotion systems. flown to the provincial branches to
LOSS
Development be given the same level of head office
BALANCES AT JANUARY 1, 2017 350,000 425,972 1,630,200 (230,062) 146 2,176,256
As the Company sustains its efforts in In 2018, out of six hundred (600) experience and training that their
COMPREHENSIVE INCOME
Net income for the year - - 427,504 - - 427,504 building a high performance culture employees in BPI/MS, five hundred metro counterparts receive.
Other comprehensive loss for the year - - - (31,243) - (31,243) to fully respond to the requirements eighty-four (584) or 97.33% completed
Total comprehensive income (loss) - - 427,504 (31,243) - 396,261 of the new business environment, the 5-day mandatory training day Going a step further in 2018, fourteen
for the year
employees are continuously trained requirement. The training of employees (14) BPI/MS employees were given
BALANCES AT DECEMBER 31, 2017 350,000 425,972 2,057,704 (261,305) 146 2,572,517
COMPREHENSIVE INCOME and developed to enable them to are based on the competencies which the opportunity to attend foreign
Net income for the year - - 448,689 - - 448,689 achieve excellent performance are analysed and evaluated every trainings in Southeast Asia, while
Other comprehensive loss for the year - - - (288,853) - (288,853) founded on our Corporate Mission. year to ensure that employees are one (1) selected employee was sent
Total comprehensive income (loss) - - 448,689 (288,853) - 159,836 All employees are required to attend equipped with the necessary skills to participate in the annual MSI
for the year
a minimum of five (5) days of training and knowledge to handle the job. Secondment Program in Tokyo, Japan.
BALANCES AT DECEMBER 31, 2018 350,000 425,972 2,506,393 (550,158) 146 2,732,353

12 BPI/ MS INSURANCE CORPORATION 2018 ANNUAL REPORT 13

OUR STAKEHOLDERS
Employee Benefits
Employees are compensated
based on performance and over-all
qualifications. Adequate provisions
for medical, health and other
essential benefits; and workplace
safety are provided to promote
employee welfare and well-being.
Uprightness and impartiality are
observed in conflict resolution.
Human Resource (HR) Programs
for our employees are continuously
reviewed and enhanced to ensure
their overall effectiveness and
responsiveness.
Employee Engagement &
Safety
The Company is further committed in
sustaining and further enhancing the high
level of engagement of employees.
Employee communication is
strengthened to keep employees
well-informed on significant
developments. Employees are
likewise encouraged to give feedback
and suggestions to Management to
further improve corporate and
operational performance, thereby
promoting employee accountability
and empowerment. Commendations
are given to employees who show
exemplary customer service through
published emails and broadcasts.
14
On the safety of the employees, the
Company provides regular updates in
times of calamities (such as typhoon,
earthquake and national unrest) and
tips on what to do before, during and
after the said events. The Call Tree
is activated during major calamities
to ensure that all employees are safe.
Should an employee respond in the
negative, details are sought in order
to provide immediate assistance to
the employee concerned.
On April 11, 2017, the Company
provided each employee with the
Go Bag which contains items that
employees can use to be self-
sufficient for at least 3 days in the
aftermath of a major incident.
Annual fire and earthquake drill is
conducted and participated by BPI/
MS employees.
Our Clients
It is the Company’s mission to provide
the finest products and services, and
realize customer satisfaction.
BPI/MS continually strives to satisfy
its Customers’ expectations and
concerns on the quality of service
it provides, by committing to
continually improve the way we do
things to better serve them.
BPI/ MS INSURANCE CORPORATION
In BPI/MS, we make the Best Happen
by striving to provide them necessary
and accurate information on products
and services, and endeavor to handle
their complaints promptly. It seeks to
broaden its accessibility to clients by
increasing points of access through
email, SMS and landline numbers
where concerns and complaints can
be instantly communicated.
Together with our partner for nine (9)
years, BPI/MS and Aspire Lifestyles,
continue to deliver quality service
through the Express Roadside
Assistance (ERA). The BPI/MS ERA is
given free to Comprehensive Motor
Car Insurance Policyholders. It
delivers 24/7 emergency assistance
such as Towing, Minor On-site repair,
Vehicle removal and many others.
ERA is one of our hundred ways in
providing excellence as we define
and widen our Motor Car Insurance
portfolio.
BPI/MS recognizes that the buying
behavior of customers has changed.
Customers live a fast-paced life and
have become tech-savvy. Internet
penetration in the country increased
from 63% in 2017 to 71% in 2018. The
country also ranked first in the world
in terms of amount of time spent
online. Furthermore, revenue from
e-commerce grew by 22% from 2017
to 2018.
In order to respond to the changing
buying behavior of its customers
and improve accessibility, BPI/MS
launched its e-commerce portal.
Customers can now buy travel
insurance for international trips, pay
their premiums via credit card, and
get a copy of their policy online, in as
short as 3 minutes. Other products
such as personal accident and motor
insurance will be offered through
the e-commerce site in the future.
E-commerce allows BPI/MS to expand
its reach by serving customers that
are not traditionally served and to
simplify the order fulfilment process.
BPI/MS also endeavors to respond to
the needs of its intermediaries such
as BPI and the accredited agents and
brokers. To further streamline the
process of buying insurance on behalf
of their clients, BPI/MS launched a
business-to-business (B2B) portal for
its intermediaries. This will enable
its intermediaries to request for
quotations and insurance policies
anytime and anywhere through the
portal.
BPI/MS intends to offer more
touch points and expand its digital
presence in the coming years.
Caring for our Community and
Environment
Beyond the confines of our boardroom
and corporate walls, we embark on
initiatives to help improve the lives
of people in the communities. We
do this by embedding corporate
social responsibility in our business
and engaging our employees through
volunteerism initiatives.
As a responsible corporate citizen,
we contribute to building a
sustainable society in partnership
with non-government organizations,
government institutions, and other
civic organizations on projects
that promote entrepreneurship,
education and the environment.
Corporate Social Responsibility
is the continuing commitment
by the Company which seeks to
contribute to the economic growth
while improving the quality of life
of the local community and society
at large and integrate social and
environmental concerns.
Employees of BPI/MS Insurance
Corporation conduct volunteerism
2018 ANNUAL REPORT
OUR STAKEHOLDERS
programs under the three (3) Pillars
of the Company’s Corporate Social
Responsibility: (1) Improvement
of Quality Products & Services,
(2) Contribution to Building a
Sustainable Environment & Society,
and (3) Practice of Social Values.
Our environmental responsibility
starts from within BPI/MS by
adopting policies, standards and
practices to make our workplace,
not just a conducive environment for
work, but a place that works toward
the betterment of the environment as
well.
BPI/MS initiatives that began in 2012
have been continued through the
years including the ban on the use
of Styrofoam and the push for the
recycling of waste. To maximizing its
electronic platform, BPI/MS began
utilizing e-policies for manpower
accounts as well as SMS and e-mails
for renewal notices and payment
confirmation. The end result is a
more efficient and timely servicing of
clients’ needs on an environmentally
sustainable platform. Furthermore,
the implementation of the
e-commerce platform enabled
paperless transactions.
15
 2018 CORPORATE GOVERNANCE
COMPLIANCE COMMITMENT
STATEMENT
The Board of Directors and
Management, employees and
shareholders of BPI/MS Insurance
Corporation (BPI/MS) believe that
sound and effective corporate
governance is the cornerstone of
the Company’s strength and long-
term sustainability. It subscribes to
a philosophy of adhering to honesty,
integrity, and professionalism
in the conduct of its business,
exercising prudence in arriving
at decisions, enforcing internal
discipline and a system of internal
control in its operating processes,
and providing transparency to its
various stakeholders regarding basic
management policies and practices,
major business strategies and
decisions, and its operating results.
We work closely with all our regulators,
the Insurance Commission (IC),
Securities and Exchange Commission
(SEC), and the Anti-Money Laundering
Council (AMLC) and the National
Privacy Commission (NPC), to
16
ensure adherence and consistency to
its laws and regulations.
The Board of Directors and
Management are hereby in full
compliance to the principles and
practices contained in the BPI/
MS Corporate Governance Manual
and acknowledge that the same
will guide them in pursuing their
corporate goals. They shall also
undertake every effort necessary to
create the necessary awareness of
these principles and practices within
the organization in order to ensure
proper internalization by every
member of the organization. Our
Board is committed to establishing
and maintaining the highest
standards of corporate governance.
The Manual of Corporate Governance
(updated on March 5, 2019)
supplements and compliments the
BPI/MS Articles of Incorporation and
By-Laws by setting forth principles of
good and transparent governance.
BPI/ MS INSURANCE CORPORATION
ATTENDANCE AT BOARD
MEETINGS
The participation of the members of
the Board in its quarterly meetings
in 2018 are shown in table below and
the average attendance in 2018 was
at 92%.
RISK MANAGEMENT
The Company has a Risk Management
Policy which guides the organization
in executing its Enterprise Risk
Management Strategies.
The policy is described in the
Company’s Corporate Governance
Manual, and Dividends Policy,
Regulation, and Guideline. These
documents are posted in a database
that is accessible to all employees
for reference. New policies and
procedures are announced and
disseminated to all employees
through email by the BPI/MS Service
Quality team.
TABLE 1
2018 ATTENDANCE PROFILE OF THE MEMBERS OF THE BOARD OF DIRECTORS
FOR THE PERIOD JANUARY 1, 2018 TO DECEMBER 31, 2018
NAME DESIGNATION STATUS OF NO. OF NO. OF %
APPOINTMENT MEETINGS MEETINGS
HELD DURING ATTENDED IN
THE YEAR* 2017
Cezar P. Consing Chairman Re-elected 5 5 100%
Aurelio R. Montinola III Director Re-elected 5 3 60%
Simon R. Paterno Treasurer/Director Re-elected 5 5 100%
Alan J. Wilson Director Re-elected 5 5 100%
Rodolfo M. Bausa Independent Director Re-elected 5 3 60%
Romeo L. Bernardo Independent Director Re-elected 5 5 100%
Xavier P. Loinaz Independent Director Re-elected 5 5 100%
Masayuki Takahashi President/CEO, Director Re-elected 5 5 100%
Hideyuki Tanaka Director Re-elected 5 5 100%
Yuji Nakano Director Newly elected** 4 4 100%
Table below shows the participation of the members of the Board in the ASM and Organizational meetings
TABLE 2
2018 ASM & ORGANIZATIONAL MEETING ATTENDANCE (JUNE 21, 2018)
MEMBER DESIGNATION ATTENDANCE
Cezar P. Consing Chairman/Director Present
Masayuki Takahashi President/ Chief Executive, Director Present
Rodolfo M. Bausa Independent Director Present
Romeo L. Bernardo Independent Director Present
Yuji Nakano Director Present
Xavier P. Loinaz Independent Director Present
Simon R. Paterno Treasurer/Director Present
Hideyuki Tanaka Director Present
Alan J. Wilson Director Present
Aurelio R. Montinola III Director Absent
2018 ANNUAL REPORT 17
2018 CORPORATE GOVERNANCE
The Board Level Risk Management
Committee meets on a quarterly
basis and has oversight over the
Enterprise Risk Management
(ERM) program of the Company.
The Committee nurtures a culture
of risk across the entity assisting
the Board in fulfilling its corporate
governance responsibilities related
to risk management.
On the Management level, the Risk
Management Working Committee
(RMWC) composed of Senior
Management, meets quarterly
to identify, assess, and review
identified business risks that could
significantly affect the Company’s
financial position and performance.
It also discusses ways and
means to develop and adopt risk
management policies and rules
for BPI/MS taking into account
applicable laws, regulations and
the actual circumstances of BPI/
MS.
The company-wide quarterly Risk
Monitoring Report is submitted
to the RMWC and RMC, which
assists the Company in managing
and monitoring its top risks.
Such report is also submitted to
the company’s Regional Holding
Company (RHC).
18
Each business unit is responsible for
providing adequate documentation
(such as Risk and Control Self-
Assessments and Risk Treatment
Plans). Risk Management reports
(Risk Profile Reports, Risk Dashboard
Reports, Bubble Maps, Own Risk and
Solvency Assessment) are prepared
and reviewed by the BPI/MS RMWC.
Focus on the reports is on Enterprise
Risk Management Tasks, Process
Risks and Business Continuity and
most recently, Information Security.
COMPANY KEY RISKS
Market risk is the risk that the
fair value or future cash flows of a
financial instrument will fluctuate
because of changes in market prices.
Market risk comprises three types
of risks: market prices (price risk),
foreign exchange rates (foreign
exchange risk) and market interest
rates (interest rate risk)
Foreign exchange risk is the risk that
the value of a financial instrument
will fluctuate because of changes in
foreign exchange rates. The Company
is exposed to both transactional and
translational fluctuations in the value
of its monetary assets and liabilities
due to exchange rate movements of
foreign currencies.
BPI/ MS INSURANCE CORPORATION
Interest rate risk is the risk that the
value/future cash flows of a financial
instrument will fluctuate because of
changes in market interest rates.
Credit risk is the risk that one party
to a financial instrument will fail to
discharge an obligation and cause the
other party to incur a financial loss.
Credit risk represents the loss that
would be recognized if counterparties
to insurance, reinsurance and
investment transactions are unable
or unwilling to fulfill their payment
obligations.
Liquidity risk is the risk that the
Company will be unable to meet
its financial obligations when due.
The Company manages the risk by
close monitoring of cash flows to
ensure that the operation maintains
optimum levels of liquidity at all
times sufficient to meet contractual
obligations as and when they fall
due.
Operational and IT Risk is risk of
loss resulting from inadequate or
failed internal processes, people,
and systems or from external
events. The Company therefore
monitors the following processes 1)
Transaction Processing: Erroneous/
Fraudulent Processing or omission
of processing steps as well as
poor servicing / processing delays
leading to loss in patronage. Manual
processing of transactions; 2) Claim
Processing: Delays in processing due
to delay in inspection, estimation and
submission of adjuster’s report, and
suppliers; 3) Information Security:
Risk of loss of information assets and
availability of data (due to disaster
scenarios) or fraud. Cyber risks;
4) Underwriting Acceptance: Risk
due to unauthorized coverage; and
5) Digitalization: Technology gap.
Delay in the implementation of digital
initiatives.
Operational – Compliance &
Regulatory Risk is risk to earnings
or capital arising from changes to,
violations of, or non-conformance with
laws, rules, regulations, prescribed
practices, or ethical standards.
Strategic/Business Risk is risk to
earnings or capital arising from
adverse business decisions. Senior
Management carefully crafts its
strategies taking into consideration
the competition, regulatory risks,
and the business environment. The
Board evaluates and approves all
major decisions and strategies of the
Company.
Reputational Risk is risk to earnings
or capital arising from negative public
opinion. Reputational Risks result
from loss of patronage due to poor
service or fraud. BPI/MS monitors
complaints regularly to ensure that
immediate and long term solutions
are put into place to address the
risk using NCRCAs (Non Conformity
Report/Corrective Action) as well
as Quality Management System
Reports to monitor effectiveness. The
Company also monitors all channels
(print, television, and social
networking media) for complaints by
clients.
DIVIDENDS POLICY
The policy provides a definitive
framework for BPI/MS to ensure that
dividends are paid to shareholders
every year out of post-tax profits,
after considering the balance
between the capital efficiency,
solvency, new planned investment
and the flexibility of decision-making
of the Company.
Dividend payments are decided after
considering the balance between
several factors such as capital
efficiency, solvency and new planned
investment.
2018 ANNUAL REPORT
2018 CORPORATE GOVERNANCE
WHISTLE BLOWING POLICY
BPI/MS is committed to integrity and
ethical behaviour by helping foster
and maintain an environment where
employees can act appropriately
without fear of retaliation.
The objective of the policy is to
encourage all employees to disclose
any wrongdoing that may adversely
impact BPI/MS, its customers,
shareholders, employees, investors
or the public at large and to protect
the whistleblower from reprisal.
The confidentiality of the
whistleblower’s identity shall be
maintained to the extent possible.
An individual who makes a
protected disclosure shall not suffer
harassment, retaliation or adverse
employment consequences. Any
person who retaliates against any
individual who makes a protected
disclosure shall be subject to
discipline, which may include
termination.
The Policy explains what can be
reported, whistleblowing contact
points, available mode of reporting
and recommended contents and
timing of the report.
19
 OUR
LEADERSHIP

20 BPI/ MS INSURANCE CORPORATION 2018 ANNUAL REPORT 21

 BOARD OF DIRECTORS
CEZAR P. CONSING, Filipino, 59 years
old, has been the Chairman of the Board
since July 23, 2015. He also served
as a Director of BPI/MS Insurance
Corporation since May 16, 2013, until
he became the Chairman in July 23,
2015. Mr. Consing is the President/
CEO/Director of Bank of the Philippine
Islands. In June 2017, he became the
Chairman of BPI Family Savings Bank,
Inc. and BPI Capital Corporation. Mr.
Consing also chairs the BPI Century
Tokyo Rental Corporation (BPI Rental
Corporation), BPI Century Tokyo Lease
and Finance Corporation (formerly BPI
Leasing Corp.), BPI Computer Systems
Corporation and BPI Europe PLC.
22
Cezar P. Consing
CHAIRMAN OF THE BOARD
Mr. Consing serves as the Chairman
of National Reinsurance Corporation
of the Philippines (Philnare), and as a
Director of BPI Asset Management and
Trust Corporation in February 2017.
He is a Director of LGU Guarantee
Corporation, BPI-Philam Life
Assurance Corporation, BancNet, Inc.
and three private companies, Sqreem
Technologies Private Ltd., Endeavor
Philippines. He presently serves as
Vice-Chairman, Board of Trustees of
BPI Foundation Inc., Board Partners
of TRG Management Principals LP,
Senior Managing Director of Ayala
Corporation, Independent Director of
Jollibee Foods Corporation.
Mr. Consing received an A.B. Economics
degree (Accelerated Program), magna
cum laude, from De La Salle University,
Manila, in 1979. At university, he was
a member of the student council, the
student newspaper and the varsity
track and field team. In recent years, he
has served on the advisory committees
of the university and its school of
BPI/ MS INSURANCE CORPORATION
economics. In 1980, he obtained an
M.A. in Applied Economics from the
University of Michigan, Ann Arbor.
Other Philippine Stock Exchange-
Listed Companies:
National Reinsurances
Corporations of the Philippines –
Chairman of the Board
ROMEO L. BERNARDO, Filipino, 64
years old has been the Independent
Jollibee Foods Corporation –
Director of the Board since December
Independent Director1
04, 2009. He is the Chairman of
BPI/MS’s Audit Committee and Risk
Management Committee and member
of the Nomination, Personnel &
Compensation and Related Party
Transaction Committees. He is
currently the Chairman, Independent
Director of ALFM Dollar Bond Fund,
ALFM Euro Bond Fund, ALFM Growth
Fund, ALFM Money Market Fund, ALFM
Peso Bond Fund, and Philippine Stock
Index Fund, Inc.
Mr. Bernardo is also the Independent
Director of Bank of the Philippine
Islands, Aboitiz Power Corporation (AP),
1
Definitive Information Statement of Bank of
Philippine Investment Management,
the Philippine Islands (BPI) disclosed in 2019.
Romeo L. Bernardo
INDEPENDENT DIRECTOR
Inc. (PHINMA), BPI Capital Corporation,
BPI-Philam Life Assurance Corporation,
BPI Asset Management and Trust
Corporation, National Reinsurance
Corporation of the Philippines, RFM
Corporation and Director of Globe
Telecom, Inc.
Mr. Bernardo is a former undersecretary
of the Department of Finance and
founded his consultancy practice,
Lazaro Bernardo Tiu & Associates in
1997. He has been advisor to various
multilateral institutions such as the
World Bank, International Finance
Corporation, Asian Development Bank,
and Japan International Cooperation
Agency. He has also worked with
government institutions and the
National Economic Development
Authority (NEDA) in policy matters
involving pension reform, capital
markets reform, and fiscal and debt
management.
He is, likewise, a public advocate
of good corporate and national
governance and frequently writes on
the subject in his capacity as Vice Chair
and Co-Founder of the Foundation for
2018 ANNUAL REPORT
Economic Freedom and the Philippine
Partner of GlobalSource Partners, Inc., a
worldwide association of country-based
experts providing insights on global
emerging markets.
Mr. Bernardo graduated with a B.S.
Business Economics degree, magna
cum laude, from the University of the
Philippines in 1974. He obtained his M.A.
Development Economics at Williams
College, Williamstown, Massachusetts,
graduating as valedictorian in 1977.
Other Philippine Stock Exchange-Listed
Companies:
Aboitiz Power Corporation – Independent
Director
National Reinsurance Corporation of the
Philippines – Independent Director
RFM Corporation – Independent Director
Globe Telecom, Inc. Non-Executive
Director 2
2
Definitive Information Statement of Bank of
the Philippine Islands (BPI) disclosed in 2019.
23
BOARD OF DIRECTORS
RODOLFO M. BAUSA, Filipino, 74
years old, has been the Independent
Director of the Board since May 16,
2005. Mr. Bausa is a member of BPI/
MS’s Audit, Nomination, Personnel
& Compensation, Related Party
Transaction and Risk Management
Committees. He is at present
Director of the following institutions:
Toshiba (Philippines), Inc., Mitsui &
Co. Mineral Resources Development
(Asia) Corp., Meiken International
Consumer Goods, Inc., NGK
Spark Plugs (Philippines), Inc., ITS
Corporation, DJK Factory Solutions,
Inc., Southeastern Phoenix, Inc.,
Nitto-Denko Philippines Corp.,
Leadence Philippines Corp., Magnus
Mercurius Holdings, Inc., Daiichi
24
Rodolfo M. Bausa
INDEPENDENT DIRECTOR
Jitsugyo Philippines, Inc., Japan
Excellent Technology and Systems,
Inc., Mandom Philippines, Inc., Sun
Pioneer, Inc., Fanuc Philippines Corp.,
FLT Prime Insurance Co. Inc., M-Tec
Corporation, Maximus Management
Holdings, Inc., Toshiba Logistics
Philippines Corp., Pasig Industries
Corporation, Miyasaka Corporation,
Les Gants Philippines, Inc., Taisho
Pharmaceuticals (Phils.) Inc., Mocom
Philippines, Inc., Accuprint, Inc.;
Caledonian International Corporation;
BPI-Sumitomo Inc.; Caledonian
Enterprises, Inc.; Mikuni Industries,
Inc.; Mitsui High-Tec (Philippines),
Inc.; M.O.C. International Inc.; NTSB
Corporation; TL Forwarding Service
(Phil.), Corp; Win-All Paper Center;
Vakrange E-Solutions, Inc.; Mitsui
Bussan Frontier (Phil.) Inc.; Great
Eastern Hotel; Philippines Wacoal
Corporation; Shinten Philippines Co.
Inc.; Spicers International Ltd.; T & P
Properties, Inc.; and TS Holdings, Inc.
Mr. Bausa serves as the Independent
Director of BPI Century Tokyo Rental
BPI/ MS INSURANCE CORPORATION
Corporation (formerly BPI Rental
Corporation) and BPI Century Tokyo
Lease and Finance Corporation
(formerly BPI Leasing Corporation).
He is also the Corporate Secretary
of TRP, Inc. (Tokai Rica); Jupiter
Logistics Philippines, Inc.; Canon
Marketing (Philippines), Inc.;
Japanese Chamber of Commerce
and Industry of the Philippines Inc.;
Kowloon House, Inc.; The Japanese
Association Manila, Inc.; JFE Techno
Manila Inc.; Toshiba Information
Equipment (Philippines) Inc.; and
Toshiba Storage Device (Philippines),
Inc. Mr. Bausa is also a Resident
Agent of Hitachi High Technologies
Pte. Ltd.; Mizuho Corporate Bank;
Kanematsu Corporation; Mitsui &
Co., (Asia Pacific) Pte. Ltd.; and
Nippon Kaiji Kyokai.
Mr. Bausa graduated from Ateneo de
Manila with a degree of Bachelor of
Laws in 1962.
BOARD OF DIRECTORS
Aurelio R. Montinola III
DIRECTOR
AURELIO R. MONTINOLA III, Filipino, Man of the Year 2012 (Management
67 years old, has been the Director Association of the Philippines), Asian
of BPI/MS Insurance Corporation Banker Leadership Award (twice),
since January 29, 2002. and Legion d’Honneur (Chevalier)
from the French Government. He
He is also the Director of Bank of the
obtained his Bachelor of Science in
Philippine Islands, BPI Family Savings
Management Engineering degree at
Bank, Inc., BPI Capital Corporation,
the Ateneo de Manila University in
and a trustee of BPI Foundation Inc.,
1973 and his MBA from the Harvard
while in February 2017, he became
Business School in 1977.
the Director of BPI Direct BanKO,
Inc. A Savings Bank (formerly BPI Other Philippine Stock-Exchange-
Direct Savings Bank, Inc.) Mr. Listed Companies:
Montinola is currently the Chairman
Far Eastern University, Incorporated
of WWF Philippines, Nicanor Reyes
– Chairman of the Board
Education Foundation, Inc., East
Asia Computer Center Inc., FEU Roxas and Company, Inc. –
High School Inc., and in 2016, he Independent Director 3
became the Chairman of Roosevelt
College Inc.
Significant awards received by Mr.
Montinola include Management
3
Definitive Information Statement of Bank of the Philippine Islands (BPI) disclosed in 2019
2018 ANNUAL REPORT 25
BOARD OF DIRECTORS
SIMON R. PATERNO, Filipino, 60
years old, serves as a Director and
Treasurer of BPI/MS Insurance
Corporation since March 2015. He is
also the Executive Vice President of
Bank of the Philippine Islands.
Mr. Paterno serves as the Director
of the following institutions: BPI
Century Tokyo Lease and Finance
Corporation (formerly BPI Leasing
Corporation), BPI Century Tokyo
Rental Corporation (formerly BPI
Rental Corporation), Mastercard
Asia Pacific Advisory Board, ALFM
Mutual Fund, Automated Fare
Collections Services, Inc., Veinte
Nueve Luna Inc., and in 2017, he
obtained the position as Director of
Zalora Philippines.
26
Simon R. Paterno
TREASURER/DIRECTOR
He is currently the Director/
Corporate Secretary of Orchid
Garden Suites/Mamita Reality, Vice
President/Director of Kasiyahan
Homes Condominium Corporation
and Director & Chairman of Ayala
Plans, Inc. In July 2018, he became
the Chairman of BPI Direct BanKo,
Inc., A Savings Bank (formerly BPI
Direct Savings Bank, Inc.)
Mr. Paterno holds the position as
the President of Menlopark Holdings
Inc., and Trustee of Foundation for
Economic Freedom and Ateneo
Scholarship Foundation.
Prior to joining BPI, Mr. Paterno
represented Commerce
International Merchant Bankers
Berhad (CIMB) in its search for
a Philippine bank investment,
having joined the group in late
2012 as CEO-designate of Bank of
Commerce, which was targeted for
acquisition by CIMB. Between 2004
and 2012, he was Managing Director
and Country Manager of Credit
Suisse, where he also founded
and served as Chairman of Credit
Suisse Securities Philippines, Inc.,
BPI/ MS INSURANCE CORPORATION
the firm’s securities broker/dealer
subsidiary. Between 2002 and 2004,
Mr. Paterno was President & CEO of
Development Bank of the Philippines
and concurrently Chairman of the
LGU Guarantee Corp. and other
DBP subsidiaries. Prior to DBP, Mr.
Paterno was a Managing Director at
J.P. Morgan, where he spent 18 years
in various capacities, rising from
Head of Philippine banking to Head
for sovereign clients in all of Asia.
During the Asian Financial Crisis, he
led the project teams that advised
the Indonesian Bank Restructuring
Agency (IBRA) and its Malaysian
counterpart, Danaharta.
Mr. Paterno received his MBA from
Stanford University in 1984 and his
AB Honors Program in Economics,
cum laude, from the Ateneo de
Manila University in 1980.4
4
Definitive Information Statement of Bank of
the Philippine Islands (BPI) disclosed in 2019.
Xavier P. Loinaz
INDEPENDENT DIRECTOR
XAVIER P. LOINAZ, Filipino, 75 years
old, has been an Independent Director
since May 29, 2010. He is currently the
Independent Director of the Bank of the
Philippine Islands, BPI Family Savings
Bank, Inc., and Ayala Corporation.
Mr. Loinaz is a member of the
Board of Directors/Trustees of DAOI
Condominium Corporation and E. Zobel
Foundation; Chairman of the Board of
Alay Kapwa Kilusan Pangkalusugan;
Chairman and President of XPL Manitou
5
Definitive Information Statement of Bank of the Philippine Islands (BPI) disclosed in 2019.
Alan John Wilson
DIRECTOR
ALAN JOHN WILSON, British, 62
years old, has been a Director of the
Board since May 16, 2013. In April
2015, Mr. Wilson was honoured to
be appointed as the first foreign
Executive Officer, Mitsui Sumitomo
Insurance Co Ltd (Japan) and in
2016, he acquired the position of
Chairman of Executive Committee of
Mitsui Sumitomo Insurance Co., Ltd
Yangon Representative Office. He is
also the Chairman/Trustee of MSIG
Provident Fund (formerly known as
CGU Provident Fund).
2018 ANNUAL REPORT
BOARD OF DIRECTORS
Properties, Inc.; and Vice-Chairman of
XPL MTJL Properties Inc.
He graduated with an A.B. Economics
degree at Ateneo de Manila University in
1963, and obtained his MBA Finance at
the Wharton School of Pennsylvania IN
1965.
Other Philippine Stock Exchange-Listed
Companies:
Ayala Corporation – Independent
Directors 5
Mr. Wilson holds the position as Director
of the following institutions: MSIG
Insurance (Malaysia) Co Ltd., Yardhimar
Company Limited, Ueang Mai Co Ltd,
MSIG Insurance (Thailand) Public
Company Limited, MSIG Berhad, MSIG
Holding (Asia) Pte Ltd., MSIG Service and
Adjusting (Thailand) Co Ltd, MS Amlin
Asia Pacific Lte Limited, and MS First
Capital Insurance Limited.
Mr. Wilson is a Fellow of the Chartered
Insurance Institute (UK) and has a BA
(Hons) in Economics and Economic
History from the University of Liverpool,
27
BOARD OF DIRECTORS
HIDEYUKI TANAKA, Japanese, 56
years old, has served as a Director of
BPI/MS Insurance Corporation since
April 2017.
Mr. Tanaka serves as an Executive
Officer of Mitsui Sumitomo Insurance
Co., Ltd., Chairman of the Board of
Directors in MSIG Holdings (Asia)
Pte. Ltd., Director, Audit Committee
28
Hideyuki Tanaka
DIRECTOR
Member of MSIG Insurance (Singapore)
Pte. Ltd. and Director of MSI Holding
(Thailand) Company Limited. He is also
a Member of the Executive Committee
of Mitsui Sumitomo Insurance Co., Ltd
Thailand Branch, Audit Committee
Member of PT. Asuransi MSIG Indonesia,
Director, Audit Committee member of
MSIG Insurance (Hong Kong) Limited,
Director of MSIG Insurance (Thailand)
Public Company Limited, and also
Director of MSIG Berhad.
Aside from being the Chairman
of the Members’ Council of MSIG
Insurance (Vietnam) Co., Ltd., Mr.
Tanaka also serves as a Member of
the Executive Committee of Mitsui
Sumitomo Insurance Co., Ltd (Yangon
Masayuki Takahashi
PRESIDENT & CEO
MASAYUKI TAKAHASHI, Japanese, 54
years old, has been the President &
CEO/Director of BPI/MS Insurance
Commission since April 01, 2017.
Mr. Takahashi brings with him over
28 years of experience in non-life
insurance from Mitsui Sumitomo. In
2014, he holds the position of Deputy
BPI/ MS INSURANCE CORPORATION
Representative Office), Senior
Officer Outside Australia/Chairman
of Executive Committee of Mitsui
Sumitomo Insurance Co., Ltd
(Australia Branch & New Zealand),
and Chairman of Executive
Committee of Mitsui Sumitomo
Insurance Co., Ltd New Zealand.
He holds the position of Director,
Audit Committee/Remuneration
Committee/Risk Management
Committee, Nominating Committee
of MS First Capital Insurance
Limited.
BOARD OF DIRECTORS TRAINING
Mr. Tanaka has a degree of Bachelor
of Laws in Keio University in 1985.
CEO/Director of MSIG Insurance (Hong
Kong), Ltd.
Mr. Takahashi graduated with
Bachelor of Arts, Economics degree
from Keio University, Japan in 1988
and attended Kobe University where
he obtained his Master’s Degree in
Business Administration in 2000.
BOARD OF DIRECTORS
Yuji Nakano
DIRECTOR
YUJI NAKANO, Japanese, 40 years He graduated in 2001 at Keio
old, has been the Director and University with a degree of Bachelor of
Corporate Planning Head of BPI/MS Commerce.
Insurance Corporation since April 1,
2018. Mr. Nakano also worked with
Mitsui Sumitomo Insurance from
April 2001 until March 2018.
NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING
OFFICER INSTITUTION
Cezar P. Consing 05 October 2018 Advance Corporate Governance Institute of Corporate
Training for Jollibee Foods Corporation Directors
30 August 2017 Seminar on Anti-Money Laundering SyCip Gorres Velayo & Co.
and Combating the Financing of
Terrorism
30 August 2017 Cyber Security FireEye Inc. & Bank of the
Philippine Islands
30 August 2017 Data Privacy Seminar and Workshop Bank of the Philippine
Islands
11 August 2017 Annual Corporate Governance Institute of Corporate
Training Program Directors
08 March 2016 Corporate Governance and Institute of Corporate
Risk Management Summit Directors
7 September 2015 Corporate Governance and Institute of Corporate
Risk Management Directors
04 February 2014 Corporate Governance and Institute of Corporate
Risk Management Summit Directors
12 December 2013 Money Laundering and Terrorist Anti-Money Laundering
Financing Prevention Program Council
and AML Risk Rating System
2018 ANNUAL REPORT 29
BOARD OF DIRECTORS BOARD OF DIRECTORS

NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING

NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING
OFFICER INSTITUTION OFFICER INSTITUTION

27 December 2012 Credit Risk Hong Kong Securities and 30 August 2017 Seminar on Anti-Money Laundering SyCip Gorres Velayo & Co.
Investment Institute and Combating the Financing of Terrorism
01 November 2012 Bank Treasury Management Hong Kong Securities and 29 March 2016 Corporate Governance Seminar Risks, Opportunities,
Investment Institute Assessment and
Management Inc.
23 March 2012 Anti-Money Laundering Thomson Reuters
18 February 2015 Orientation Course for Corporate Institute of Corporate
08 November 2006 Bangko Sentral ng Pilipinas – Deutche Bangko Sentral ng Pilipinas Governance Directors
Bundes Bank Joint Conference
on Risk Management 04 February 2014 Corporate Governance and Institute of Corporate
Risk Management Summit Directors
16 September 2004 & Corporate Governance and De La Salle University
22 February 2005 Risk Management 12 December 2013 Money Laundering and Terrorist Anti-Money Laundering
Financing Prevention Program and Council
Romeo L. Bernardo 10 September 2018 Advance Corporate Governance Training Institute of Corporate AML Risk Rating System
Directors October 2002 Seminar on Good Governance Institute of Corporate
30 August 2017 Seminar on Anti-Money Laundering SyCip Gorres Velayo & Co. Directors
and Combating the Financing Simon R. Paterno 10 September 2018 Advance Corporate Governance Training Institute of Corporate
of Terrorism Directors
30 August 2017 Cyber Security FireEye Inc. & Bank of the 30 August 2017 Board of Directors & Senior Management Bank of the Philippine
Philippine Islands Continuing EducationFine Dining Islands
26 July 2017 Corporate Governance SyCip Gorres Velayo & Co. 08 March 2016 Annual Corporate Governance Institute of Corporate
24 July 2014 Corporate Governance Seminar for Institute of Corporate Training Program Directors
AEV and Aboitiz Power Directors Directors 06 May 2016 The Money Laundering Prevention The Anti-Money Laundering
and Officers Program Council Secretariat and
04 February 2014 Corporate Governance and Institute of Corporate Bank of the Philippine
Risk Management Summit Directors Islands
12 December 2013 Money Laundering and Terrorist AML Risk Rating System 2015 Corporate Governance SyCip Gorres Velayo & Co.
Financing Prevention Program (MLPP) 2015 Orientation Course for Institute of Corporate
and Anti-Money Laundering Council Corporate Governance Directors
October 2002 Seminar on Good Corporate Governance Institute of Corporate 2004 Corporate Governance for Bangko Central/ICD
Directors Bank Executives
25 March 2015 Orientation Course for Institute of Corporate 2001 Special Seminar on Corporate BSP/Institute of Corporate
Corporate Governance Directors Governance for Bank Chairman and CEOs Directors
09 June 2016 Corporate Governance Speaker Series Institute of Corporate Xavier P. Loinaz 10 September 2018 Advance Corporate Governance Training Institute of Corporate
Orientation Course Directors Directors
28 March 2016 Seminar on Corporate Governance: Institute of Corporate 08 March 2016 Corporate Governance and Institute of Corporate
Data Privacy, Creating Shared Values and Directors Risk Management Summit Directors
Aboitiz Group Governance Policies
18 February 2015 Orientation Course for Institute of Corporate
09 June 2016 Corporate Governance Seminar Institute of Corporate Corporate Governance Directors
Directors
04 February 2014 Corporate Governance and Institute of Corporate
Rodolfo M. Bausa 11 August 2017 Annual Corporate Governance Institute of Corporate Risk Management Summit Directors
Training Program Directors
12 December 2013 Money Laundering and Risk Rating Anti-Money Laundering
Aurelio R. Montinola III 10 September 2018 Advance Corporate Governance Institute of Corporate System Terrorist Financing Prevention Council
Training Directors Program and AML
11 August 2017 Annual Corporate Governance Institute of Corporate 23 & 24 October 2002 Orientation Course on Corporate The Institute of Corporate
Training Program Directors Governance for Bank Directors Directors
30 August 2017 Cyber Security FireEye Inc. & Bank of the Alan John Wilson 12 December 2018 Cybersecurity Incident Response and Singapore
Philippine Islands Crisis Management (Mandiant Consulting)

30 BPI/ MS INSURANCE CORPORATION 2018 ANNUAL REPORT 31

BOARD OF DIRECTORS BOARD OF DIRECTORS

NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING

NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING

OFFICER INSTITUTION OFFICER INSTITUTION

27 November 2018 FIDE Forum: Dialogue with Senior Officials Kuala Lumpur 03 March 2017 Asian Financial Services – Executive Singapore
of Bank Negara Malaysia (FIDE) Breakfast Briefing (AFS)
22 October 2018 Emerging Risks, The Future Board and Kuala Lumpur 08 Nov 2016 Fujitsu Asia Conference (Fujitsu) Singapore
Return on Compliance (FIDE)
11-14 Oct 2016 28th East Asian Insurance Congress (AIR) Macau
19 October 2018 SICC Dialogue with the Minister for Singapore
Manpower Mrs. Josephine Teo (SICC) 19 September 2016 Inscom Conference 2016 (Inscom) Munich

24 September 2018 Inscom Conference (MSG) Munich 16 September 2016 ECN – Regional Strategic Forecast (ECN) Singapore

19-20 September 2018 SAP CEO Summit (SAP) Bangkok 14 September 2016 Anniversary of Wall Street Journal Asia Singapore
(US Embassy)
15 September 2018 Singapore Summit (MAS) Singapore
15 September 2016 MunichRe CEO Forum (MunichRe) Singapore
21 August 2018 Board Risk Management Training (MSIG HK) Hong Kong
13 September 2016 Economic Society of Singapore (ESS) Singapore
06 June 2018 PwC’s Asia Pacific Risk Symposium (PwC) Singapore
08 September 2016 Economist – Urban Development and Singapore
05 June 2018 MAS Lecture (former Governor Singapore Liveability in Asia (Economist)
Reserve Bank of India) (MAS)
08 September 2016 Claims Conference Singapore Singapore
26 April 2018 Microsoft Digital Insurance Event (Microsoft) Singapore
07 September 2016 7th Annual ASEAN Future of Banking & Singapore
26 April 2018 ECN Breakfast Talk - Sustainable Singapore Financial Services (FST Media)
Business Goals (Economist)
31 August 2016 SwissRe Forum (SwissRe) Singapore
15 March 2018 Malaysia Board of Director’s Training (MSIG) Kuala Lumpur
25 May 2016 2016 Employee Benefits Event Singapore
23 February 2018 ERM Training for Thailand Directors (MSIG) Laos (Mercer/Marsh)
09 February 2018 Harnessing Data and Artificial Intelligence Singapore 24 May 2016 The Promise of SouthEast Asia – Singapore
in the Digital Economy (SID) the next global powerhouse (Economist)
07 February 2018 ORSA Training (KPMG) Singapore 10 May 2016 Claims Conference (Incisive Media) Hong Kong
07 February 2018 JLL Breakfast Talk (Economy/Property) Singapore 13 April 2016 Direct & Digital Non-Life Insurance Singapore
(JLL) in Asia (KPMG)
22 January 2018 BNM-FIDE Forum – Managing Cyber Risks Kuala Lumpur 04 March 2016 Asian Financial Services Congress 2016 (AFS) Singapore
in Financial Situations (Bank Negara)
25 February 2016 RPC Insurance Conference Asia (RPC) Singapore
18 January 2018 ECN Event | Asia Business Outlook Singapore
Survey (ECN) 24 February 2016 PwC Singapore’s risk breakfast series – Singapore
Turnaround and transformation in
22 June 2017 DBS Institutional Investor Singapore cybersecurity (PwC)
Symposium 2017 (DBS Bank)
28 January 2016 2015 Hay Group Survey on Director and Singapore
29-30 May 2017 2017 Symposium on Asian Banking and Singapore Executive Pay –Re-evaluating (SID)
Finance (Monetary Authority of Singapore)
27 January 2016 Economist: Asia Business Outlook Singapore
30 March 2017 CEO Lunch Roundtable – Adapting to a Singapore (Economist)
Digital and Local World (Korn Ferry)
20 January 2016 Singapore Property Market Outlook (JLL) Singapore
29 March 2017 2017 HR Transformation Forum (AON) Singapore
15 January 2016 Mercer – Remuneration Committee Guide Singapore
28 March 2017 Claims Club Asia Meeting (Insurance Post) Singapore (Mercer/SID)
27 March 2017 BNM-FIDE Forum – Annual Dialogue Kuala Lumpur 07 January 2016 Microsoft – Singapore Next 50 Years Singapore
with Governor of Bank Negara Malaysia (Microsoft)
(BNM)
18 December 2015 Annual Compliance Training (MSIG) Singapore
23 March 2017 Corporate Governance Guides for Singapore
Board and Board Committee (SID) 07 December 2015 FIDE FORUM, Bank Negara Malaysia (BNM) Kuala Lumpur

13 March 2017 Training for the MSIG SIN Board (by PWC) Singapore 04 December 2015 ECN: Drive or Delegate (Economist) Singapore
(1) Cybersecurity (2) MAS 04 November 2015 Swiss Re Asia Forum 2015 (SwissRe) Singapore

32 BPI/ MS INSURANCE CORPORATION 2018 ANNUAL REPORT 33

BOARD OF DIRECTORS BOARD OF DIRECTORS

NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING

NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING

OFFICER INSTITUTION OFFICER INSTITUTION

26 October 2015 FIDE FORUM, Bank Negara Malaysia - Kuala Lumpur 11 April 2014 Legal and Compliance Risk Seminar Japan
Directors Register Focus Group Session (BNM) (Davis Polk)
16 June 2015 ERM & ORSA (KPMG) Singapore 19 March 2014 Mercer Global Forum (Mercer) Singapore
03 June 2015 Teambuilding (Pace) Singapore 28 February 2014 Tower Watson’s Benefits Innovation Summit Singapore
(Tower Watson)
29 May 2015 Shaking Things up – Technology that Kuala Lumpur
Transforms and how to keep 28 February 2014 World Economic Forum Singapore
Pace (Hong Leong) (Oliver Wyman)
26 May 2015 EBL Module 4 Financial Literacy & Singapore 27 February 2014 Asian Financial Services Congress Singapore
Governance (Singapore) Breakfast (IDC)
20-21 May 2015 Asia Pacific Insurance Forum 2015 Hong Kong 15 January 2014 Impact of the Easing of QE on the Asia Singapore
(Towers Watson) real estate market (Jones Lang La Salle)
13 May 2015 Economist CEO lunch with Steve Leonard Singapore 19 December 2013 Annual Compliance Training (MSIG) Singapore
(Economist)
10 December 2013 The Role Leadership, Responsibilities and Duties Kuala Lumpur
23 March 2015 BNM-FIDE FORUM Dialogue with Kuala Lumpur of the Board of Directors (Wong and Partners)
the Governor, Bank Negara Malaysia (BNM)
06 December 2013 ECN Breakfast Meeting – Asia Quarterly Singapore
23 January 2015 MAS-SAL Conference 2015 – The Future of Singapore Update (Economist)
Financial Markets Regulation –
A Global Asia Perspective (MAS) 26 November 2013 Economist – 2014 Prediction Singapore

16 January 2015 ECN Breakfast Meeting – Asia Business Singapore 18 October 2013 Asia Insights: Creating Sustainable Singapore
Outlook (2015) (Economist) Leadership Pipeline (Right Management)

13 January 2015 eBoard Directors’ Training Kuala Lumpur 14 June 2013 ECN Breakfast Meeting – Myanmar Singapore
(Hong Leong) Kuala Lumpur 10-13 June 2013 Financial Institutions Directors Education Kuala Lumpur
07 January 2015 ACRA-SGX-SID-Audit Committee Seminar Singapore (FIDE) Program 2013 – Module B
(Singapore Institute of Directors) 31 May 2013 Director’s In-House Training Kuala Lumpur
12 December 2014 The Global Impact of Commercial Ties Singapore (Hong Leong Financial Group)
Between China and India 09 May 2013 Towers Watson – Asia Pacific Financial Hong Kong
(Singapore Management University) Management Forum
NAME OF DIRECTOR/ 09 December 2014 Global Developments and Malaysia’s Kuala Lumpur 26 April 2013 Economist Vietnam Singapore
Economic and Equity Outlook
(RHB Research Institute) 25 April 2013 HR Summit Singapore
05 December 2014 Re-drawing the ASEAN Map (Economist) Singapore 17 April 2013 Economist – CEO Luncheon – Singapore
Business Strategy
3-5 November 2014 27th East Asian Insurance Congress Taiwan
(Asia Insurance Review) 28 February 2013 Asia Financial Services Congress – Singapore
Building on Big Ideas
08 October 2014 EBL Module 1: Effective Board Singapore
(Singapore Institute of Directors) 29 January 2013 Jones Lang Breakfast Meeting – Singapore
Property Outlook for 2013 and Beyond
28-29 September 2014 Myanmar Insurance Summit Myanmar
(Asia Insurance Review) 25 January 2013 Solutions to a Word without Walls – Singapore
by Ingram Micro Asia
27 June 2014 ECN: Country Focus: Thailand (Economist) Singapore
24 January 2013 Critical Strategies in Exec. Remuneration Singapore
13 June 2014 Nikkei Asian Review Forum Singapore for M&A by Mercer
(Nikkei Inc.), Singapore
24 January 2013 SID Roundtable Discussions Singapore
12 June 2014 Cloud Computing Seminar Singapore
(World Business Media) 15 January 2013 KPMG – Personal Data Protection Act Singapore
22 May 2014 EBL Module 3: Enterprise Risk Management Singapore 12 December 2012 MSIG Annual Compliance Training Singapore
15 May 2014 EBL Module 2: The Board & Fund Raising (SID) Singapore 19-20 November 2012 Holman Fenwich Willan: Conference on Current Singapore
Trends and Issues in Global Commodities

34 BPI/ MS INSURANCE CORPORATION 2018 ANNUAL REPORT 35

BOARD OF DIRECTORS BOARD OF DIRECTORS

NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING
NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING

OFFICER INSTITUTION
OFFICER INSTITUTION

16 November 2012 Towers Watson: Globalizing Asia – Pacific: Singapore 27 August 2010 IFRS Seminar for Japanese Financial PWC, Singapore
Maximizing the value of Human Capital in Institutions
Outbound M & A 26 August 2010 Asian Insurance Congress IDF Financial Insights,
02 November 2012 Economist – Managing Human Capital in Singapore Singapore
Asia Planning for the future of workers in 25 August 2010 14th Asia Insurance Industry Judging Panel Asian Insurance Review
Asia Meeting Singapore
18 October 2012 Munich RE Seminar – “Enterprise Risk Singapore 20 August 2010 PWC Forum 2010 – Critical Changes in PWC, Singapore
Management – Qualitative Risks” Financial reporting standards impacting
15-16 October 2012 Swiss Re Forum Singapore the success of your business
24 August 2012 Towers Watson – Towards Sustainable Singapore 16 August 2010 Best Practices in Rolling Forecasting IBM, Singapore
Employee Engagement 06 August 2010 Asia-Mid Market M & A Spotlight Deloitte, Singapore
2-3 July 2012 4th Asian Life Insurance Summit Jakarta 23 July 2010 2010 SwissRe Asia Forum Swiss Re, Singapore
15 June 2012 Talent Management Workshop (Kom Ferry) Singapore 30 June 2010 KPMG Breakfast Briefing KPMG, Singapore
12 June 2012 Executive Breakfast Event (12 Jun) : Data Singapore 11 June 2010 IBM Shares vision for Smarter Insurance IBM Singapore
Governance & Privacy Management
Strategies and Technology Best Practices 04 June 2010 Oxford Economics Limited Oxford Economics, Singapore
08 June 2012 ECN Breakfast Meeting : Indonesia Singapore 06 May 2010 HR Summit Expo-Driving Productivity: Right Management, Singapore
The People Factor
28-30 May 2012 Deutsche Bank Conference Singapore
06 May 2010 Informatica 9 World Tour Informatica, Singapore
20 April 2012 Economist – Country Focus : Myanmar : Singapore
A New Light 24-25 March 2010 10th CEO Insurance Summit Asia Asia Insurance Review,
Singapore
11 April 2012 Economist: CEO Lunch Talk: Silver Lining Singapore
11 February 2010 SICC Business Seminar Series – SICCI, Singapore
24 February 2012 Asian Financial Services Congress Singapore Regional Business Outlook 2010,
24 February 2012 Economist – Country Focus : Thailand Singapore Challenge & Opportunities (SICC)
12 January 2012 Board Effectiveness Breakfast Briefing Heidrick & Struggles, 4-5 February 2010 Performance Appraisal Workshop Place Organization Dynamics
Singapore Pte., Ltd., Singapore
24 November 2011 Annual Compliance Training MSIG, Singapore 14 January 2010 Open Analytics, a financial analysis tool ACRA and WHK Horwath,
based on extensible Business Reporting Singapore
16 September 2011 Tower Watson Singapore Language (XBRL)
15 September 2011 Swiss Re Executive Forum Singapore 01 December 2009 SwissRe Executive Forum SwissRe, Singapore
14 September 2015 Kom Fery – Talent Management Singapore 25 November 2009 CNBC 8th Asia Business Awards Singapore
13 April 2011 Mercer’s Talent Strategy breakfast briefing Singapore 17 November 2009 Price Fixing SICC, Singapore
24-25 February 2011 7th Annual Asian Financial Services AFS Congress 2011, 16 November 2009 Ho Rih Hwa Leadership in Asia Public SMU, Singapore
Singapore Lecture Series
21 January 2011 Performance Management Workshop PACE Consulting, Singapore 13 November 2009 Talk by Secretary for Commerce & Economic HK, Economic & Trade Office,
07 December 2010 The Power of Focused Execution: Risk Management, Dev, HKSAR Govt. Singapore
From Leadership to Frontline Singapore 11 November 2009 Executive Breakfast Forum Capgemini & Pegasystems,
09 November 2010 IBM Insurance Leadership Dialogue IBM, Singapore Singapore
07 October 2010 SHL Workshop SHL, Singapore 06 November 2009 Insurance CEO Breakfast Roundtable PWC, Singapore
discussion
09 September 2010 Deloitte Singapore Insurance Seminar Deloitte, Singapore
13 October 2009 Provident Fund Training Watson Wyatt and Deacons,
08 September 2010 Strategic Planning By Dr. Adel F. Damian. Prof. Hong Kong
of Mgt. Lee Kong Chian
School of Business and SG 08 October 2009 Info Insurance Event-Survive Downturn and Infor, Kuala Lumpur
Mgt. University, Singapore Prepare for Rebound

36 BPI/ MS INSURANCE CORPORATION 2018 ANNUAL REPORT 37

BOARD OF DIRECTORS BOARD OF DIRECTORS

NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING
NAME OF DIRECTOR/ DATE OF TRAINING PROGRAM NAME OF TRAINING

OFFICER INSTITUTION
OFFICER INSTITUTION

06 October 2009 Redefining Leadership By Heidrick & Struggles, 30 Jan – 01 Feb 2008 8th CEO Insurance Summit Asia Insurance Review,
Singapore Jakarta
01 October 2009 Dir-Gen Roundtable Luncheon SICC, Singapore Masayuki Takahashi 27 November 2018 Legal Risk Seminar BPIMS
01 October 2009 Regional CEO Forum Munich Re, Singapore 30 August 2017 Seminar on Anti-Money Laundering and SyCip Gorres Velayo & Co.
Combating the Financing of Terrorism
11 September 2009 Executive Briefing – Capgemini & Pegasystems Singapore
30 August 2017 Cyber Security FireEye Inc. & Bank of the
10 September 2009 KPMG Executive Briefing: Leveraging Cash KPMG, Singapore Philippine Islands
Mgt. for Improvements in Business
performance and Liquidity 23 August 2017 Corporate Governance Orientation Program Institute of Corporate
Directors
07 September 2009 SII/IBM CEO Breakfast Roundtable IBM, Singapore
2015 Public/Product Liability/Comprehensive MSI – Regional Office
03 September 2009 PWC Insurance Industry Group Breakfast PWC, Singapore General Liability & Fidelity Guarantee (Hong Kong)
Briefing
2015 Property, Business Interruption and CBI MSI – Regional Office (Hong Kong)
05 August 2009 Premier Business Leadership Series SAS, Singapore
2014 Underwriting for Non-Underwriters MSI – Regional Office (Singapore)
05 August 2009 Strategies for Growth & Sustainable Advantage SAP, Singapore
Hideyuki Tanaka 11 December 2018 Cybersecurity Incident Response and Mandiant Consulting
16 June 2009 Containing Costs through the Economic Mercer/Marsh & McLennen, SG Crisis Management
DownturnINSTITUTION
21 August 2018 Underwriting Cycle and Risk Management MSIG Holdings (Asia) Pte Ltd
16 June 2009 “What drives board effectiveness? – SID Egon Zhender, Singapore Mr. Paul Faulkner,
findings for 200 Review around the world” Mr. William Song
by Ashley Summerfield
23 February 2018 ERM Training for Thailand Directors MSIG Thailand
09 June 2009 Luncheon talk by Brain Dumaine, Fortune, Singapore
Fortune Global Editor 07 February 2018 MAS Guidance on ORSA KPMG Singapore
(arranged by MSIG Singapore)
29 May 2009 Insurance Executive Breakfast Roundtable IBM, Singapore
by Paul Robinson Let’s Build a Smarter 2014 Stock Corporate Law Germany
Planet – The Insurance Enterprise of the Future Yuji Nakano 23 November 2018 Legal Risk Management Training BPIMS
18 May 2009 Cognos Finance Forum 09 Driving IBM, Singapore 29 August 2018 Corporate Governance Orientation Program BPIMS
Performance in Turbulent Times

28 April 2009 Transforming the Insurance Enterprise Oracle, Singapore
03 April 2009 Global Economic Outlook SICC, Singapore
20 March 2009 SAP Customer Info Day SAP, Singapore
03 March 2009 KPMG Budget Breakfast KPMG, Singapore
24-27 November 2008 EAIC Asia Insurance Review,
Hong Kong
4-5 November 2008 ADB Conference on Natural Catastrophe ADB, Japan
Risk Insurance Mechanism for Asia
23 October 2008 SAP Executive Roundtable SAP, Singapore
13 August 2008 SID getting the Best from your Board SID, Singapore
12 August 2008 SBF Seminar on doing Business in Malaysia SBF, Singapore
05 August 2008 World Class CFO Strategies for Management Singapore
Excellence
31 July 2008 SAP Summit 2008 Business Beyond SAP, Singapore
Boundaries
17 June 2008 IBM CEO Roundtable IBM, Singapore
22-23 April 2008 Business for the Environment Singapore

38 BPI/ MS INSURANCE CORPORATION 2018 ANNUAL REPORT 39

 MANAGEMENT COMMITTEE
Alberto C. Santos, Jr.
BUSINESS DIRECTOR
UNDERWRITING DIVISION HEAD

Ma. Perpetua A. Cutiongco

BUSINESS DIRECTOR
CHIEF OPERATING OFFICER
Atty. Danielle Maria Sales-Tort
DIRECTOR
COMPLIANCE AND LEGAL
DEPARTMENT HEAD
Masayuki Takahashi
PRESIDENT AND CEO

Yasuhiro Kano
BUSINESS DIRECTOR
CORPORATE SALES DIVISION HEAD

Yuji Nakano
DIRECTOR
CORPORATE PLANNING
DEPARTMENT HEAD
Nestor Maurice C. Dantes, Jr. Jesusa G. Sacman
DIRECTOR ASSISTANT DIRECTOR
HUMAN RESOURCES AND INFORMATION TECHNOLOGY
Merlina P. Mendoza Anthony Lou M. Bernabe ADMINISTRATION DEPARTMENT HEAD DEPARTMENT HEAD
DIRECTOR BUSINESS DIRECTOR
FINANCE AND RISK MANAGEMENT RETAIL SALES AND MARKETING
DEPARTMENT HEAD DIVISION HEAD

40 BPI/ MS INSURANCE CORPORATION 2018 ANNUAL REPORT 41

 2018 CORPORATE SOCIAL
RESPONSIBILITY ACTIVITIES
BPI/MS Bacolod Branch Participated in BPI Foundation’s
“ONE WATERSHED, ONE FUTURE” Activity
BPI/MS Bacolod Branch employees participated in BPI
Foundation’s “ONE WATERSHED, ONE FUTURE” Activity
last June 30. The mangrove planting and coastal clean-up
activities will benefit the residents of San Enrique, Negros
Occidental.
The project was in partnership with World Wild Fund
(WWF) Philippines, BPI Bayan Foundation and the local
government units of San Enrique, Valladolid, Pontevedra
and La Carlota.
BPI/MS Iloilo Branch joins Ayala Business Club Iloilo’s
Tree Planting Activity
Last August 12, BPI/MS Iloilo Branch employees joined
the tree planting activity of Ayala Business Club (ABC) at
Bucari, a tourist destination in the mountains of Leon, Iloilo.
About a hundred volunteers from various Ayala companies
braved the rains and bad weather to push through with the
project which ABC plans to hold annually.
The trees planted will help boost the ecological balance in
the area and the sustainability of its tourism industry.
42 BPI/ MS INSURANCE CORPORATION
BPI/MS Supports BPI National Volunteer Day
Employees of Contact Center and BPI/MS Bacolod Branch
participated in the first BPI National Volunteer Day last
August 18.
The Contact Center employees hauled hollow blocks, mixed
sand and cement, and shared lunch and stories with the
villagers of Gawad Kalinga in Dasmariñas, Cavite. On the
other hand, the BPI/MS Bacolod Branch employees helped
paint houses for the residents of Gawad Kalinga Village in
Sum-ag, Negros Occidental.
Employee Joins Exposure Trip
Georgina Sagun of Compliance and Legal Department
joined BPI Sustainability’s Exposure Visit to Habi Lifestyle
last September 22. During the trip, participants were
able to see different products made from scrap cloth
and to interact with the weavers from Payatas. The most
unforgettable experience Georgina had was to personally
make potholders from scratch. She saw how much patience
and hard work is required just to make a pot holder.
After the trip, she realized that the true essence of
Social Enterprise and Responsible Fashion is supporting
products made by communities that help protect the
environment. We must support innovative ways of reusing
different materials in order to reduce waste, create a clean
environment and fight global warming. Furthermore, the
trip showed her that it is better to buy things made by hand
than those made by a machine.
2018 ANNUAL REPORT 43
 PRODUCTS AND SERVICES
FIRE
• Fire Insurance
• Home Care Advantage
• Business Care Advantage
• Condominium Care Advantage
• Personal Care Advantage
• Industrial All Risks
MOTOR
• Compulsory Third Party Liability
• Comprehensive Motor Insurance
with FREE Express Roadside
Assistance
• Private Car
• Private Car (Dual Purpose Body)
• Commercial Vehicle
• LTO Motor
PERSONAL ACCIDENT
• Individual Personal Accident
• Group Personal Accident
• MARINA Compulsory Group
Personal Accident
• Group Student Personal Accident
• Family Personal Accident
• Commuter’s PA
• Travel Personal Accident
•Domestic
› Individual
› Group
• International
› International (Travel Care
Insurance)
› Individual Per Trip
› Individual Annual
› Corporate Group Annual
44
CASUALTY
• Comprehensive Personal Liability
• Comprehensive General Liability
• Fidelity Guarantee
• Hospital Cash Plan Insurance
• BPI/MS Bahay at Buhay Cash
Assistance
• Pinoy Kalinga
• Golfer’s Comprehensive Insurance
• Money Securities and Payroll
• Robbery, Money and Securities
• Equipment Floater
• Personal Property Floater
• Excess Automobile Liability
• Extended Warranty
• Livestock Insurance
• Digital Business and Data
Protection (Cyber Insurance)
• Professional Indemnity
• Trade Credit
• Energy, Exploration and
Development
• ATM Safe
• Directors and Officers
• Errors and Omission
• Health Insurance
MARINE AND AVIATION
• Marine Cargo
• Marine Open
• Marine Individual
• Inland Marine
• Marine Hull
• Aviation Insurance
• Fixed Premium P&I
BPI/ MS INSURANCE CORPORATION
2018 HIGHLIGHTS
FEBRUARY 1 JULY SEPTEMBER 19
ENGINEERING BPI/MS marked its 16th year in the BPI/MS successfully transitioned
• Contractor’s All Risks insurance industry. to the new ISO standard, ISO
• Erection All Risks 9001:2015.
• Electronic Equipment Insurance
• Machinery Breakdown Insurance FEBRUARY 6
• Boiler and Pressure Vessel OCTOBER 18
Insurance
BPI/MS partnered with Bayad
• Deterioration of Stocks Insurance
Center, a new payment facility for
SURETY BOND clients’ convenience.
• Bidder’s Bond
• Surety (Downpayment) Bond
AUGUST 8
• Performance Bond
• Payment Bond Overtake Quarter 3 Car Bonanza
• Guarantee Bond BPI/MS’s business partners were Raffle
• Judicial Bonds gathered to witness the launch of BPI/MS drew its second Overtake
• Guardian’s Bond Overtake: 2018 BPI/MS Grand Prix Car Bonanza winner of a brand
› Administrator’s Bond at Makati Sports Club. new Honda BRV at Honda Cars
› Appeal Bond Manila Bay last October 18, 2018.
› Counter-Appeal Bond Overtake Quarter 2
Car Bonanza Raffle
› Attachment Bond MAY 18 BPI/MS drew the first Overtake
› Counter-Attachment OCTOBER 26-28
› Injunction Bond Car Bonanza winner of a brand
› Counter-Injunction new Honda City last May 2019 at
› Supersedeas Honda Cars Manila Bay.
› Executors Bond
AUGUST 20
› Replevin Bond
• Heir’s Bond
• Indemnity Bond
• Surety-General Bond
• Real Estate Brokers & Appraiser Overtake Quarter 1
BPI/MS joined World Travel
Bond Car Bonanza Raffle
Lifestyle Expo at SMX Convention
• Fidelity Bond BPI/MS drew the first Overtake
Center.
• Reconstituted Bond Car Bonanza winner of a brand Overtake Quarter 2
new Honda City last May 2019 at Car Bonanza Raffle
Honda Cars Manila Bay. BPI/MS drew the first Overtake
Car Bonanza winner of a brand
new Honda City last May 2019 at
Honda Cars Manila Bay.
2018 ANNUAL REPORT 45
 BRANCH NETWORK
HEAD OFFICE
11th, 14th, 16th & 18th Floors,
6811 BPI-Philam Life Makati, Ayala Avenue,
Salcedo Village Bel-Air, City of Makati, NCR,
Fourth District, Philippines 1209
Tel. No.: (02) 840-9000
Website: www.bpims.com
METRO MANILA
QUEZON CITY
G/F, Cyber Park Tower 1, 60 General
Aguinaldo Avenue, Araneta Center,
Cubao, Quezon City Telefax: (045) 961-1822
Tel. Nos.: (02) 911-2824 • 912-7121 • 995-7757 337-8992 • 509-7967 • 337-8123
Fax No.: (02) 912-7821 CABANATUAN SATELLITE OFFICE
Telefax: (02) 911-1330
ALABANG
6/F CTP Alpha Building,
Investment Drive, Madrigal Business Park,
Ayala Alabang, Muntinlupa City
Tel. No.: (02) 802-1740
Telefax Nos: (02) 802-1741 • 802-1743
MOTOR CLAIMS EVALUATION CENTER (CLEC)
16/F 6811 BPI-Philam Life Makati, Ayala
Avenue, Salcedo Village Bel-Air,
City of Makati
Tel. Nos.: (02) 840-9115 • 840-9118
Fax no: (02) 813-6073
LUZON
DAGUPAN
BPI Dagupan-Arellano Branch Annex Building,
Arellano Street, Dagupan City, Pangasinan
Tel. Nos.: (075) 515-3808 • 522-0614 •
523-5111
Telefax No.: (075) 523-1812
TUGUEGARAO
U/G Level, Castillo Commercial Building,
23 Rizal Street, Tuguegarao City, Cagayan
Tel. Nos.: (078) 396-2514 • 396-2515
Telefax No.: (078) 844-4241
46
BAGUIO SATELLITE OFFICE
2/F BPI Family Savings Bank Malcolm
Branch, Agoncillo Street
corner Perfecto Street,
Malcolm Square, Baguio City
Telefax No.: (074) 442-2310
SAN FERNANDO
2/F Kingspire Business Centre, Km. 71
McArthur Highway, Brgy. San Isidro,
San Fernando City, Pampanga 2/F BPI General Luna Highway Branch,
Tel Nos.:(045) 455-5759 • (045) 455-5760
2/F BPI Melencio Building,
794 Melencio Street,
Cabanatuan City, Nueva Ecija
Tel. No.: (044) 940-9392
IMUS
2/F J. Antonio Building,
1167 E. Aguinaldo Highway,
Bayan Luma 7, Imus City, Cavite
Tel. No.: (046) 471-1466
Telefax Nos.: (046) 471-1271 • 471-1280
LIPA
Unit C-1C K-Pointe Business Center,
Ayala National Hi-Way, Sabang,
Lipa City, Batangas
Tel. Nos.: (043) 756-0051 • 756-6454 •
757-2195 • 757-2196
Telefax No.: (043) 757-2681
NAGA
G/F ADC Building corner Catmon II,
Magsaysay Avenue, Naga City,
Camarines Sur
Telefax No.: (054) 881-0405 • 881-0392 •
881-0086
BPI/ MS INSURANCE CORPORATION
VISAYAS
CEBU
11/F Ayala Life-FGU Center,
Mindanao Avenue corner Biliran Road,
Cebu Business Park, Cebu City, Cebu
Tel. Nos.: (032) 415-7632 • 415-7636 •
415-7639 • 415-8299 • 231-4563 • 231-4620
Fax No.: (032) 415-7634
ILOILO
General Luna Street, Iloilo City, Iloilo
Tel. Nos.: (033) 335-0079 • 336-3771 •
Fax Nos.: (033) 337-1865
BACOLOD
G/F BPI Family Savings Bank Building,
10th Street corner Lacson Street,
Bacolod City, Negros Occidental
Tel. Nos.: (034) 433-1102 • 433-4616 •
433-6370
Fax No.: (034) 435-0373
MINDANAO
CAGAYAN DE ORO
Suites 14, 15 & 16, 8/F Gateway Tower,
Limketkai Center, C.M. Recto Avenue,
Cagayan De Oro City, Misamis Oriental
Tel. No.: (088) 857-1303
Telefax No.: (088) 857-1302
DAVAO
2/F BPI JP Laurel Branch Building,
J.P. Laurel corner Cabaguio Avenue,
Bajada, Davao City
Tel. Nos.: (082) 221-7785 • 225-3187 •
226-3843
Fax No.: (082) 227-3187
11th, 14th, 16th and 18th Floors, 6811 BPI-Philam Life Makati,
Ayala Ave., Salcedo Village Bel-Air, City of Makati NCR Fourth
District, Philippines 1209

www.bpims.com (02) 840-9098

(02) 840-9000 insure@bpims.com