MANILA, Philippines — Oona Insular Insurance Corp. has appointed Ramon Zandueta as its new president and CEO.
Formerly known as Mapfre Insurance, Oona is the local unit of the Singapore holding company which is backed by funds advised and managed by Warburg Pincus.
Industry veteran Zandueta will replace acting CEO Jean Israel as its new head starting May 1.
Zandueta is the managing director and chairman of the board of Marsh Philippines, the local arm of the global insurance broker and risk advising company.
Oona Group CEO Abhishek Bhatia said Zandueta is expected to bring in decades of expertise in the insurance and risk business as the company rolls out its plan for the Philippines.
Zandueta started with the Ayala Group as part of its reputable management training program in 1982 before joining Marsh as its local correspondent broker six years later.
He led the firm’s risk management segment and was head of broking operations for the Philippine office until he was promoted to CEO in 2004 and eventually as chairman in 2021.
“I look forward to steering Oona Insurance Philippines as we deliver quality, convenient and innovative digital solutions to Filipinos,” Zandueta said.
Oona Insurance is focused on Southeast Asia which aims to be one of the top and largest insurers in the market.
Through a buy-and-build strategy, it plans to establish its presence in insurance underpenetrated markets of the Philippines, Indonesia, Vietnam, Malaysia, and Thailand.
In the Philippines, Oona will continue offering a wide range of products including motor, property, and accident. It will also introduce new products such as new age lines, cyber risk and health insurance, as well as solutions that are emerging on the back of increasing adoption of internet, e-commerce, and digital payments.