National Reinsurance Corporation Of The Philippines
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    National Reinsurance Corporation Of The Philippines
    (4 reviews)
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    Write a review

    Company Profile

    Company overview

    Industry

    Insurance

    Company size

    51-100

    Primary location

    31F Ayala Life-FGU Centre, Ayala Avenue, Makati City
    National Reinsurance Corporation of the Philippines was incorporated in 1978 as a domestic professional reinsurance firm to provide life and non-life reinsurance to the Philippines and neighboring insurance markets. On January 15, 2007, the Company received approval from the Securities and Exchange Commission to use the names and styles of Philippine National Reinsurance Company or “PhilNaRe” to enhance its image as the country’s national reinsurer.The primary mandate of PhilNaRe is to assist in the development of the Philippine insurance industry by providing reinsurance capacity and support to Philippine insurance companies as well as by contributing towards higher retention of business within the country.PhilNaRe is today the only domestic professional reinsurance company in the Philippines. The Company is listed in the Philippine Stock Exchange with the trading symbol NRCP.Our Beginningsprovide life and non-life reinsuranceThe National Reinsurance Corporation of the Philippines (the company) was incorporated in 1978 by virtue of Presidential Decree No. 1270 as a domestic professional reinsurance firm to provide life and non-life reinsurance capacity to the Philippines and neighboring insurance markets. Under the same decree, the company was designated as the vehicle for the Philippine insurance industry's participation in the Asian Reinsurance Corporation. A multi-government ESCAP initiated reinsurance entity, based in Bangkok, Thailand, which was established to foster regional cooperation among insurance companies doing business in Asia. The registered office address of the company is located at 31st Floor, Ayala Life-FGU Center, 6811 Ayala Avenue, Makati City.Our Core Philosophywe exert our best effortsCustomer focus is central to our management philosophy. Flexible and creative underwriting, knowledge management and cultivation of a service-oriented corporate culture are the main strategic thrust of our company.At PhilNaRe, we listen and respond to our clients needs and provide them with innovative solutions to empower them to pursue their goals.

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    Reviews overview

    3.34 ratings in total
    5
    1
    4
    1
    3
    1
    2
    0
    1
    1
    100%
    Rate salary as high or average
    75%
    Employees recommend this employer to friends

    What’s it like working at National Reinsurance Corporation Of The Philippines?

    AI summary of recent reviews

    Employees at National Reinsurance Corporation Of The Philippines appreciate the supportive management who treat them like family and provide mentorship. They also value the company's unique nature as the only professional local reinsurer, as well as the promotion of a good work-life balance by not encouraging overtime.

    However, there are some potential areas for improvement, such as a lack of staff to fully utilise resources, an organisational structure where some roles and responsibilities are unclear, a need for a more innovative environment, and some concerns about indecisiveness from top leadership.

    Recent reviews

    3.0
    Underwriting Assistant
    Jan 2018
    Less than 1 year in the role, former employee
    Pretty much loaded in terms of work.
    The good thingsGood work environment.
    The challengesLack of staff to maximize the resources given.
    5.0
    Life Underwriting
    Jun 2016
    Less than 1 year in the role, current employee
    A company worth staying.
    The good thingsFirst of all, the bosses, particularly my boss treats me like family. Like how parents treat their offspring. They will extend all the help and assistance they could give to us employees. May it be about work, family, or friends, you can be sure that they will be there for you. Second, the management, just like my bosses, they treat people first, because they believe that if the employees are happy, certainly the business will prosper. Third, the schedule, here at NRCP, we practice work life balance, and that means the office does not encourage overtime because they know that the employees also have lives outside the office.
    The challengesNone as of this time.
    1.0
    Business process manager
    Feb 2016
    1 to 2 years in the role, former employee
    Employer Review for National Reinsurance Corporation of the Philippines
    The good thingsThe business is unique since they are the only professional local reinsurance in the company.
    The challenges1. Roles are not clear, keep on hiring people that they really don't need that soon later on will resign because of unclear role. 2. Unclear Organizational structure resulting roles in conflicts for example the Head of Procurement is also the one responsible for approval of disbursement, collection, general accounting. 3. Full of politics more than I expect. Executives tend to create allies rather than promoting teamwork and collaboration resulting to every team working in SILO. 4. Environment not conducive to innovation or process improvement. 5. CEO undecisive of many things which clearly reflects poor management and lack of leadership
    Ratings for National Reinsurance Corporation Of The Philippines are shared as-is from employees in line with our community guidelines
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