Pru Life UK appoints new chairman
British life insurer Pru Life UK has announced the appointment of its new chairman, Henry Joseph M. Herrera, effective August 2012. Mr. Herrera took on the post after the resignation of Bobby G. Madrid as the company’s Chairman.
Prior to becoming Chairman of Pru Life UK, Mr. Herrera was a member of the company's Board of Directors and Chairman of the Audit Committee since June 2010. He is also currently a faculty member of the Asian Institute of Management and is the Director and Audit Committee Chairman at the ATR KimEng Family of Mutual Funds.
Mr. Herrera’s experience in the insurance industry spans over 30 years. He was President and CEO of Sun Life of Canada (Philippines), Inc. from January 2007 to July 2009. His first CEO position was with Philippine Asia Life Assurance Corporation, where he was appointed in May 1994. Among his many achievements are multiple appointments as President and CEO, and various stints as Chief Actuary, Head of Investments, and Head of Operations. He is a Fellow of the Actuarial Society of the Philippines, a member of the International Actuarial Association and the Financial Executives Institute of the Philippines.
Henry, as he is fondly called, is a Statistics Cum Laude graduate of the University of the Philippines, and has also accomplished courses at the AIM, the Wharton Graduate School of Business and the Harvard School of Business.
He is the first recipient of the ASEAN Young Insurance Manager Award in 1995. He is also an Outstanding Alumni Awardee of the UP College of Business Administration in 2007, and The Outstanding Thomasian Alumni (TOTAL) Award also in the same year.
Mr. Madrid’s resignation took effect last August 23. He joined Pru Life UK in 1996 when the company started its operations, as its first President and CEO. Mr. Madrid retired as President in 2007, and eventually assumed the Chairmanship of Pru Life UK's Board of Directors in the same year.
Established in 1996, Pru Life UK is a subsidiary of British financial services giant Prudential plc. Pru Life UK is the pioneer and current market leader of unit-linked or investment-linked life insurance products, and is one of the first life insurance companies approved to market US dollar-denominated unit-linked policies in the country. Pru Life UK is a life insurance company and is not engaged in the business of selling pre-need plans.
Prudential plc has an extensive network of life insurance and mutual funds operations around the world, active in the United Kingdom (UK), Europe, the United States (US) and 13 markets in Asia. It has 26 million customers worldwide and manages £351 billion of assets as of 31 December 2011.
Prudential plc is a United Kingdom-registered company. Pru Life UK and Prudential plc are not affiliated with Prudential Financial, Inc. (a US-registered company), Philippine Prudential Life Insurance Company, Prudentialife Plans, Inc. or Prudential Guarantee and Assurance, Inc. (all Philippine-registered companies).