Singlife Philippines names Lester Cruz as its new CEO

MANILA, Philippines — Digital life insurer Singlife Philippines has announced the appointment of Lester Cruz as its new chief executive officer.

Lester is a highly accomplished financial services professional with more than 20 years of experience managing multiple segments and products, leading cross-functional teams and consistently delivering strong results across various roles.

Lester’s expertise spans business development, relationship management, product management, client engagement and corporate governance. His extensive professional background covers retail banking, wealth management, insurance and fintech.

Before joining Singlife Philippines, Lester served as the customer franchise director of UNO Digital Bank, which, incidentally, is a partner of Singlife Philippines. The UNO app allows customers to access a variety of affordable and comprehensive Singlife insurance plans.

At UNO, he was instrumental in transforming the startup into a rapidly growing franchise. He oversaw a broad range of functions, including products and payments, digital channels and innovation, growth marketing, business development and partnerships, bank-at-work program, and enterprise project management. His strategic vision and implementation were crucial in driving UNO Digital Bank’s strong and sustainable financial results.

Lester also played a pivotal role in the launch of CIMB Bank Philippines, the country’s first all-digital, mobile-first bank.

Prior to CIMB, Lester spent nearly 15 years at Citi. He managed the premier Wealth Management and Insurance businesses of Citibank N.A. (Philippines) as president and board director of its wholly owned subsidiary, Citicorp Financial Services and Insurance Brokerage Philippines Inc. (CFSI).

Singlife Philippines chairman Richard Vargo says, “We are delighted to welcome Lester on board. His extensive experience in both digital and traditional banking, startups and his long-standing career in financial services make him the ideal leader to steer Singlife Philippines into its next phase of growth.”

Singlife Philippines director Sherie Ng adds, “Singlife Philippines’ unique fully digital proposition is gaining strong traction in the market with consumer acquisition and aggressive partnership growth. We are delighted to bring onboard Lester with his wealth of knowledge of the local market, financial expertise and digital experience, to take us into an exciting era of continued growth and expansion.”

Continuing the mission of Singlife Philippines

Singlife Philippines is on a mission to democratize access to life insurance products for Filipinos. It has made access to life insurance products convenient and affordable for customers through the use of cutting-edge technology.

Today, its products can be accessed purely digitally through GCash, the country’s leading e-wallet, through the Singlife Plan and Protect App, and through various partnerships with digital platforms.

“I am extremely honored and excited to join this incredible team. With nearly one million lives protected in less than five years of operation, Singlife Philippines is a game-changer in the life insurance industry. The company’s mission aligns perfectly with my advocacy for financial inclusion and making access to crucial financial services simple and accessible to Filipinos. I look forward to advancing the company’s efforts to protect even more Filipinos from financial challenges,” says Lester.

To learn more about Singlife Philippines, visit www.singlife.com.ph or through the following social media channels: Facebook, Instagram and TikTok.

Editor's Note: This press release for Singlife Philippines is not covered by Philstar.com's editorial guidelines.