National Reinsurance Corporation of the Philippines held its board meeting on July 28, 2022, the Board approved the following: The resignation of Mr. Wilfredo C. Maldia as Chairperson of the Board and as a Director of the Corporation. Mr. Maldia likewise resigned as member of the Nomination and Compensation Committee. The resignations are effective July 27, 2022.

The Board passed a resolution thanking Mr. Maldia for his services to the Corporation. The election of Mr. Jose Arnulfo A. Veloso as Director of the Corporation vice Mr. Wilfredo C. Maldia. Mr. Veloso was also appointed as a Member of the Nomination and Compensation Committee, the Underwriting Committee and the Investment & Budget Committee.

The appointments are effective July 28, 2022. The election of Mr. Jose Arnulfo A. Veloso as Chairman of the Board of the Corporation, vice Mr. Wilfredo C. Maldia, effective July 28, 2022.