Singlife Philippines names Allen Reyes as CEO

MANILA, Philippines — Singlife Philippines Inc. has appointed Allen Reyes as its new CEO, the digital life insurer announced yesterday.

Reyes, who previously served as the company’s chief financial officer, brings nearly three decades of experience in banking, insurance and global shared services.

He succeeds Lester Cruz, who departs the company after two years.

“The company thanks Cruz for his leadership and contributions during his tenure, and wishes him well in his future endeavors,” Singlife Philippines said in a statement.

Before joining Singlife, Reyes was the chief financial officer of Security Bank Corp. He also held senior positions at multinational firms including Diageo, Sony Global Services and Deutsche Bank.

The newly appointed executive holds a degree from the University of Santo Tomas in Manila and has completed the Leading Sustainable Corporations Program at the University of Oxford.

Singlife Philippines said it would continue investing in digital insurance and strategic partnerships as it seeks to provide Filipinos with greater access to financial protection through its Singlife PH application.

Before stepping down, Cruz said in a roundtable that the company is nearing profitability and expected to surpass its 2025 performance in customer growth and revenue.

Singlife Philippines narrowed its net loss to P300.66 million in 2025, down from P428.67 million in 2024, according to unaudited data from the Insurance Commission.

The insurer also said its customer numbers and new business revenue both jumped by 23 percent year-on-year, while its premium income inched up by 1.8 percent to P496.81 million.