Top Philippine insurance exec makes Forbes ‘power businesswomen’ list

MANILA, Philippines — A Filipina executive made it to Forbes’ 2019 Asia’s Power Businesswomen list, which highlights 25 outstanding women in business.

The list, found in the October issue of Forbes Asia, recognizes women who are breaking down barriers and playing significant roles in shaping Asia’s business landscape.

Making it to the list is Nina Aguas, executive chairman of the first local life insurance firm Insular Life Assurance Co.

“After 30 years in top management positions in Asia, Australia and North America for big international banks, Nina Aguas took over as executive chairman of the Philippines’ first local life insurance firm, Insular Life Assurance Company, last year,” Forbes said.

Under her leadership, the 109-year-old company saw premium income rise 18 percent to P14 billion or $267 million in 2018.

The Forbes list includes entrepreneurs who have started their own business, those transforming their family enterprises, as well as high-level executives.

Forbes said that with 25 new names, the list seeks to expand the community of women business leaders by building upon the legacy created since the inaugural Asia’s Power Businesswomen list in 2012.

“By profiling these 25 outstanding women, Forbes Asia aims to highlight their achievement in the business world and present them as both powerful and empowering, so that their success may inspire all our readers,” Rana Wehbe, editor of the 2019 Asia’s Power Businesswomen list.

Among those who made the list this year is Nguyen Thi Phuong Thao, founder and CEO of Vietjet Aviation.

Forbes said Thao made history as the only woman in the traditionally male-dominated aviation business to start and run her own major commercial airline in 2007.

According to Forbes, shares of Vietjet have more than doubled since its 2017 initial public offering, giving it a market value of $3 billion.

Thao is also Vietnam’s first self-made woman billionaire and Southeast Asia’s wealthiest self-made woman, with a net worth of $2.5 billion.

Also on the list is Tan Hooi Ling, cofounder and COO of Grab in Southeast Asia.

The 35-year-old Malaysian has led the company alongside cofounder Anthony Tan in raising over $9 billion since Grab’s launch in 2012. As chief operating officer, Tan focuses on growing Grab’s market share in the eight countries and 336 cities where the company operates, Forbes said.

Coffee entrepreneurs also made it to Forbes list.

Jenny Qian Zhiya founded Xiamen-based coffee chain Luckin in 2017 and expanded the chain to 3,000 stores in less than three years.

The company raised $695 million through IPO on Nasdaq in May this year. It now commands a market capitalization of roughly $5.3 billion. Another is Jennifer Wai-Fun Liu, founder of The Coffee Academïcs.