Insular Life names Littaua to replace Dela Cruz as new president
THE Insular Life Assurance Co. Ltd. recently announced its Board of Trustees accepted during its March meeting the retirement of President and CEO Mona Lisa B. dela Cruz, effective June 7.
Dela Cruz has served Insular Life for 41 years, rising from assistant manager in mass marketing to heading actuarial and administrative operations, before being appointed in 2015 as the first female president and chief operating officer and then chief executive officer in 2018 of the life insurance company. She also held concurrent positions as chief actuary and treasurer.
Dela Cruz became President of Insular General Insurance and director of Insular Life subsidiaries including Insular Health Care, Insular Foundation and the firm’s affiliate Mapfre Insular Insurance. She held directorships in Union Bank of the Philippines, The Medical City and Pilipinas Shell Petroleum Corp.
“An ‘Inlifer’ during her entire career life, [Dela Cruz] took on increasing management responsibilities and strengthening the company’s core operations,” the company said. “She championed Insular Life’s strategy of customer-centricity and led in incorporating the ‘Magandang Araw’ servicing brand into the corporate culture, which later became one of the corner stones of Insular Life’s brand identity.”
Insular Life Executive Chairperson Nina D. Aguas thanked Dela Cruz “for her leadership, commitment, consistency and stability that has allowed the company to survive the many challenges, staying focused on the welfare of our policyholders, employees and agency force.”
“We wish her all the very best as she takes on a truly deserved retirement from corporate life,” Aguas added.
Succeeding Dela Cruz as president and CEO is Senior Executive Vice President and Insurance Distribution Group Head Raoul E. Littaua.
Littaua joined the company in 2018 as Chief Agency Officer. He is currently the Chief Distribution Officer in charge of agency operations and bancassurance. He is also Board Director of Inlife Health Care Inc.
“A veteran of the life insurance business, he introduced several changes in agency distribution channel that led to revitalizing the company’s agency force making the company an attractive business partner for field managers and agents,” the company said. “His brainchild, ‘Project Alpha,’ has enabled [Insular Life] to bring and develop promising and productive millennial agency leaders and financial advisors. He transformed the bancassurance business model resulting in impressive business results amidst the pandemic.”
Prior to joining Insular Life, Littaua worked with two global life insurance companies in various roles in progressive capacities in operations, agency management, bancassurance, marketing and human resources. At Sun Life, he established the nationwide customer service centers, and initiated the Company’s process improvement efforts when he was the insurance operations head. When he was moved as Senior Vice President for Sales and Marketing, he conceptualized and spearheaded various sales and marketing campaigns that contributed to the company’s strong market performance. It was also under his watch that solid marketing discipline was introduced making the competitors notice the company’s innovative marketing drives. He was Board Director of Sun Life Foundation, Sun Life Prosperity Money Market Fund, Sun Life Financial Plans Inc. and Sun Life Prosperity Bond Fund.
As Allianz PNB Life Insurance Corp. senior vice president and chief distribution officer, Littaua strengthened their bancassurance partnership and established agency channel.
A strong advocate of renewable energy, he worked with the Department of Environment and Natural Resources as technical consultant for foreign-assisted projects and special projects. Among his projects were Philippine solid waste management project, coral reef rehabilitation and eco-tourism development, climate change adaptation and biodiversity project, and digitization of Cadastral Lands.
Littaua graduated from the De La Salle University with an AB Psychology degree. He completed an Executive Development Course from LOMA/LIMR A in conjunction with Penn State University.