The Armed Forces and Police Mutual Benefit Association, Inc. (AFPMBAI) was awarded for being among the Top Performing Mutual Benefit Associations (MBA) in the Philippines in the 2022 Annual Golden Arrow Awards (AGAA) for Insurance Companies last 23 September 2022. The award-giving body composed of the Institute of Corporate Directors (ICD) in partnership with the Insurance Commission (IC), based the awards from the 2021 Corporate Governance Scorecard (CGS) of the companies involved.
The Association garnered a score of over 84 points in its CGS, which is more than four points higher than the benchmarked standard of 80 points*. The said score was given a one-arrow recognition, wherein the golden upward-pointing arrow represents the Philippine companies’ ongoing efforts to improve their compliance with ASEAN corporate governance principles.
AFPMBAI’s President and CEO, MGen Rizaldo B Limoso PA (Ret) and Head of Sales Operations Group (SOG) and COO, MGen Nathaniel Y Casem PN(M) (Ret), received the award on behalf of the Association.
*80 points is the minimum score standard for excellent corporate governance
On stage at the AGAA last 23 September 2022, from left to right: Atty Cesar L Villanueva, FICD, ICD Board of Trustees Chairman; MGen Casem, AFPMBAI SOG Head and COO; Atty Erickson H Balmes, IC Deputy Commissioner for Management Support Services Group; MGen Limoso, AFPMBAI President and CEO; and Rebecca G Sarmenta, FICD, ICD CG Standards Committee Cha1irperson.
Receiving the GAA as a Top Performing Company in the MBA sector are AFPMBAI’s President and CEO, MGen Limoso (2nd from right) and Head SOG and COO, MGen Casem (2nd from left). Included in the photo are ICD Board of Trustees Chairman, Atty Cesar L Villanueva, FICD (leftmost); IC Insurance Commissioner, Atty Dennis B Funa, FICD (middle); and ICD CG Standards Committee Chairperson, Rebecca G Sarmenta, FICD.