Insular Life bares new president-COO

Insular Life executive vice president and chief operating officer Mayo Jose B. Ongsingco has been promoted to president effective Jan. 1, 2004, it was announced by Insular chairman Vicente R. Ayllon who will remain as chairman and chief executive officer.

Ayllon has been both chairman and president of the country’s leading Filipino life insurance company since 1977.

Ongsingco has been Insular Life EVP, chief operating officer and chief financial and investment officer since August 2002 in a concurrent capacity. Prior to that, he was president of Insular subsidiaries I-Care and Insular Investment and Trust Corp. where he is a board director. He is also vice chairman of Insular Savings Bank and director of other Insular Life subsidiaries and affiliates such as Pilipinas Shell Petroleum, Insular Life Foundation and Insular Life Property Holdings.

Prior to joining Insular, Ongsingco was country officer of international investment bank Deutsche Morgan Grenfell and senior executive of the investment house subsidiary of Union Bank of the Phils. He also had extensive international business exposure with postings in Hong Kong, Malaysia and the United States covering finance, property development, investment management and trading.

Ongsingco graduated as a full scholar at the De La Salle University with degrees in Economics and Accounting, magna cum laude, and Jose Rizal Honors Society for consistent honors, and obtained his Masters in Business Administration from UP Diliman as Entrance Scholar, University Scholar and Pi Gamma Mu honors. He also has a Master of National Security Administration degree from the National Defense College of the Philippines and completed an investment banking course at the European Institute of Business Administration (INSEAD).