FWD Life Insurance Corporation (“FWD Philippines”) today announced the appointments of Manolito “Lito” T. Tayag and Henry Joseph M. Herrera as the newest independent members on its Board of Directors.
The two were officially appointed on May 23, 2023. Their addition follows the recent appointment of Manuel “Jumbing” G. De Rosas as President and CEO.
Jumbing said: “We’re excited to have both Lito and Henry on our board. Their expertise in sustainable growth and digital transformation will help FWD Philippines in addressing the country’s protection gap, increasing financial inclusivity, and strengthening our contribution in nation-building.”
As Independent Directors, both Lito and Henry will oversee FWD Life Philippines toward its growth strategies for local business operations. They will be instrumental in advancing corporate credibility and raising governance standards with their objective and balanced perspectives.
A graduate of Management Engineering from Ateneo De Manila University, Tayag brings with him extensive technology and operations management experience having served as the Country Managing Director (CMD) for Accenture Philippines for more than 12 years, with the geographic responsibility for the growth and sustainability of Accenture’s business in the Philippines —providing Technology, Operations, Digital, and Consulting services to Accenture’s global and local clients. He concurrently served as trustee of the Information Technology and Business Process Association of the Philippines (IBPAP) from 2011-2021 and served as its chairman from 2017 to 2021.
Tayag is active in the education sector as a trustee in several educational institutions since 2005. He is also active in the development sector as the Vice Chair of the board of the Philippine Business for Social Progress (PBSP). He is currently a member on the board of trustees of the Philippine Business for Education (PBEd) and the Makati Business Club (MBC).
Meanwhile, Herrera graduated from the University of the Philippines, Diliman with Master of Business Administration in 1986 and B.S. Statistics cum laude in 1980. He has also attended various short courses at the Asian Institute of Management (1997, 2001, 2010 and 2011); Wharton Graduate School of Business (2000); and Harvard School of Business (2003).
Herrera’s career in the life insurance industry spanned decades, starting from 1980 in the Insular Life Assurance Corporation (1980 -1982), Lincoln Philippine Life Insurance Company, Inc. (1982-1983), United Coconut Planters Life Assurance Corporation (1984-1989), Knights of Columbus Fraternal Association of the Philippines Inc. (1989-1992), Philippine Asia Life Assurance Corporation (1989-1997), before finally joining Sun Life Financial in 1998. He served as Sun Life Financial’s President and Chief Executive Officer (2007-2009) for its life insurance, asset management and pre-need businesses. From 2010-2021, he served as a member of the board of Pru Life UK (Philippines) serving in various board committees. From August 2012 to December 2021, he served as Chairman of the Board for Pru Life UK (Philippines).
He was a past president of the Philippine Life Insurance Association, the umbrella organization of life insurance companies in the country. He was also a past president of the Actuarial Society of the Philippines.
