Inside the “Oscars” of Insurance: Who Was at the 2026 PLIA Induction (And Why It Matters to policy holders)

If you walked past the ballrooms of Makati last Friday, January 30, you might have felt a shift in the financial atmosphere. No, it wasn’t the stock market crashing—it was the 2026 Induction of Officers for the Philippine Life Insurance Association (PLIA).

For those who don’t know, PLIA is basically the “Avengers” of the life insurance world. It’s the organization that unites all the CEOs and Presidents of every life insurance company in the country (Sun Life, Pru, Manulife, AXA, you name it). When they meet, they don’t just eat fancy steak; they decide the future of your premiums, your claims, and your coverage.

I’ve dug through the press releases, the speeches, and the attendee list to bring you the full report. This year wasn’t just a party; it was a strategy session for a challenging economic year.

Here is everything you need to know, from the VIP guest list to the “marching orders” given by the government.

The “Main Character”: A New Finance Secretary

The biggest buzz of the night wasn’t about insurance products—it was about the man at the podium.

If you haven’t been watching the news since late 2025, you might still think Ralph Recto is the Finance Secretary. He is not.

The Guest of Honor was the newly appointed Finance Secretary Frederick Go.

For context, Secretary Go took over the Department of Finance (DOF) in November 2025 after Recto moved to the Executive Secretary position. This was one of his first major appearances addressing the insurance sector, and the room was listening intently.

The “Vibe” of His Speech: Secretary Go didn’t sugarcoat the numbers. He acknowledged that 2025 was a “slow” year for the Philippines, with GDP growth hitting only 4.4% (missing the government’s target). The crowd was understandably nervous—when the economy slows down, people stop buying insurance.

But Go was the “optimist in chief.” He dropped a major figure: ₱1.4 Billion. That is the amount of primary spending the government is releasing immediately in Q1 2026 to jumpstart the economy. His message to the insurance CEOs was clear: “Don’t panic. The fundamentals are strong. We are pumping money into the system, so get ready to insure the growth.”

The Regulator: Commissioner Regalado’s “Homework”

Sharing the stage was Insurance Commissioner Reynaldo Regalado.

While Sec. Go talked about the macro economy, Comm. Regalado talked about the masa. His challenge to the new officers was specific: Microinsurance.

He pointed out that while the industry is earning billions, the insurance penetration rate in the Philippines is still hovering below 2%. The people buying policies are the same middle-to-upper-class Filipinos. The farmers, the fisherfolk, and the minimum wage earners are still dangerously unprotected.

Regalado’s “homework” for the 2026 PLIA Board?

• Simplify: Stop making 50-page contracts.
• Digitize: Sell insurance where the poor are (GCash, Maya, convenience stores).
• Affordability: Push products that cost less than 7.5% of the daily minimum wage.

The “Roll Call”: Confirmed Important Guests

You asked for the list, and it is a powerhouse lineup. These are the people who will be steering the ship for 2026. If you hold a policy with any of these companies, these are the folks signing the big checks.

1. The Government VIPs

• Hon. Frederick Go – Secretary of Finance (Keynote Speaker)
• Hon. Reynaldo Regalado – Insurance Commissioner (Inducting Officer)
• Note: There were also representatives from the Bangko Sentral ng Pilipinas (BSP), signaling tighter coordination between banks and insurers this year.

2. The 2026 PLIA Board of Directors (The “Cabinet”)

These are the elected leaders from the private sector.

• President:Rahul Hora(President & CEO, Manulife Philippines)

  • Oli’s Take: Having a multinational CEO lead PLIA usually means a push for global standards and digitalization. Manulife has been aggressive with their app, so expect PLIA to push for more “paperless” transactions industry-wide.
• Vice-President:Dr. Jose Enrique Delas Peñas(President & CEO, Manila Bankers Life)

  • Oli’s Take: Dr. Delas Peñas represents the domestic insurers. His presence ensures that local Filipino-owned companies aren’t bullied by the foreign giants.
• Treasurer:Renato Vergel De Dios(President & CEO, BDO Life)

  • Oli’s Take: One of the most respected veterans in the industry. “Ato” Vergel De Dios is a master of the “Plan B” philosophy. With him handling the PLIA purse strings, the association is in safe hands.
• Secretary:Geraldine Desiderio-Garcia(Senior VP, Country Bankers Life)

  • Oli’s Take: Another win for domestic insurance and rural banking integration.

3. The Directors (The Board Members)

These CEOs represent the different “factions” of the industry—from the giant multinationals to the bancassurance powerhouses.

• Melita Teo – CEO, AIA Philippines (The giant formerly known as Philam Life)
• Sjoerd Smeets – President, EastWest Ageas Life (Representing the fast-growing bancassurance sector)
• Peter Coyiuto – CEO, First Life Financial (A legendary figure in the Filipino-Chinese business community)
• Emma Abad – EVP, Fortune Life (Representing the “teacher’s insurance” market, as Fortune is huge with DepEd)
• Sanjay Chakrabarty – CEO, Pru Life UK (The leader in VUL sales—his voice matters for investment-linked policies)
• Richard Lim – President, Sun Life Grepa Financial (The YGC-Sun Life partnership)

4. The “Ex-Officio” & Management

• George C. Mina – PLIA General Manager (The man who actually runs the day-to-day operations)

What This Means for Policyholders in 2026

So, you have the list. You have the context. What does this mean for your policy?

1. Expect “Sachet” Insurance. With Comm. Regalado breathing down their necks, expect your favorite apps (GCash, Maya, Grab) to offer more “bite-sized” insurance. Think ₱50 coverage for Dengue or ₱100 for accidents. The goal is to get everyone insured, not just the rich.

2. VULs Might Evolve. With Sanjay Chakrabarty (Pru Life) and Melita Teo (AIA) on the board, and the market being volatile, expect a push for “Principal Protected” VULs or more conservative fund options. They know people are scared of negative fund values right now.

3. The Government is Watching. With Sec. Go explicitly linking insurance to national economic recovery, the industry is under pressure to perform. This usually means better customer service and faster claims processing (hopefully!) as they try to win public trust.

The Bottom Line

The 2026 PLIA Induction wasn’t just a gathering of rich CEOs in suits. It was a declaration that despite a slow 2025, the industry is ready to spend, ready to digitize, and ready to protect.

You have the “Dream Team” of Philippine insurance leading the charge— Peter Coyuito, Rahul Hora, Ato Vergel De Dios, Melita Teo, and the rest. They have the marching orders from Finance Secretary Go. Now, let’s see if they deliver.