The National Reinsurance Corporation of the Philippines, commonly known as Nat Re, has announced a major leadership change. According to a disclosure filed with the Securities and Exchange Commission on August 13, 2026, the company’s current President and CEO, Allan R. Santos, will be retiring on October 1, 2026, after serving the company for nine years.
Who is Taking Over?
Alexander L. Reyes, who many in the insurance industry know as “Sandy,” will be the new President and Chief Executive Officer starting October 1, 2026. Sandy is not new to Nat Re – he previously worked at the company as Senior Vice President and Head of Non-life Reinsurance from 2014 to 2021, giving him deep knowledge of how the company operates.
What Does Nat Re Do?
National Reinsurance Corporation of the Philippines is a reinsurance company. Think of it this way: when regular insurance companies need their own insurance to protect themselves from really big risks, they go to reinsurance companies like Nat Re. It’s like insurance for insurance companies.
Allan Santos’ Achievements
Allan Santos became President and CEO of Nat Re in 2018. During his leadership, the company grew significantly despite facing tough challenges like the COVID-19 pandemic, natural disasters, and changes in the insurance market.
Here are some numbers that show how much the company grew under his leadership:
- Company Assets: Grew from Php13.9 billion in 2018 to Php22.8 billion in 2025
- Profits: Increased from Php149 million in 2018 to Php829 million in 2025
- Gross Written Premiums: Rose from Php3.7 billion in 2018 to Php5.7 billion in 2025
- Net Written Premiums: Climbed from Php2.6 billion in 2018 to Php4.5 billion in 2025
Under Santos, Nat Re also achieved an improved credit rating and paid out its first dividend in ten years – a dividend is money the company shares with its stockholders as a reward for investing in the company.
Allan also helped Nat Re expand its business beyond the Philippines, making it a regional player and establishing the company’s reputation as a trusted partner in promoting climate resilience and sustainable insurance development across the region.
About the New CEO
According to the company’s announcement, Alexander “Sandy” Reyes brings decades of experience in the insurance industry. The Board of Directors described him as a recognized leader who is good at developing new ideas, identifying problems, and finding solutions. He is known for creating innovations in products and services that improve how the company operates and serves its clients.
Because Sandy previously worked at Nat Re for seven years, the company expects the leadership transition to be smooth. The announcement states that Allan and Sandy will work closely together in the coming weeks to ensure a seamless handover of responsibilities.
About Nat Re Stock
National Reinsurance Corporation of the Philippines has 2,123,605,600 common shares outstanding and trades on the Philippine Stock Exchange. The company is headquartered at the 31st Floor of BPI AIA Makati on Ayala Avenue in Makati City.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
