A changing of the guards just happened at one of the country's most trusted insurance firms, Fortune General Insurance Corporation (FGen Insurance).
FGen President and Chief Operating Officer Michael F. Rellosa has announced recently his retirement effective June 16, 2018.
"After almost 18 years of leading this company, I have decided that it's about time I change my course. I am happy that I am leaving FGen after a banner year. And I am happy that I will be turning over the reins of this company to an equally competent leader," he said.
Rellosa has been replaced by a contemporary, Manuel Maloles, who was Senior Vice President for Marketing and Sales of FGen.
Rellosa and Maloles entered the non-life insurance industry at the same time as management trainees of the Ayala-owned FGU Insurance.
Rellosa gave Maloles the credit for the innovative marketing approaches that FGen has initiated, among them the insurance for dengue and the adoption of new, technologically aided channels of distribution.
"With Manny at the helm of FGen, I'm sure we can look forward to more creative marketing ideas and to more new products that respond to the needs of the market," he said.
After his departure from FGen, Rellosa joined the Philippine Insurers and Reinsurers Association (PIRA) as its Executive Director, where he plans to carry out the various advocacies for the greater good of the entire non life insurance industry.
In his new capacity, he is expected to be the "Chief Evangelist" of the non-life insurance industry, in line with the renewed vision and mission of the Association.
Meanwhile, Maloles expressed his gratitude for his promotion.
"I never expected this," he said. "I hope to lead FGen as it continues to strive to be the insurance of choice of the Millennials."
Maloles is a consummate insurance professional. In his 35 years in the industry, he has worked in all important departments of the insurance companies who had hired him -- from underwriting to marketing and claims, all the way to reinsurance.
Prior to his entry into FGen in 2009, he worked for Spanish insurer Mapfre as VP for Marketing and later VP for Surety and Legal Services.
A passionate car enthusiast, Maloles wants to make FGen the preferred insurer of car club members.