OONA Insular Insurance Corporation (OONA Insurance), formerly Mapfre Insurance, has announced Ramon Zandueta as its new President and CEO. He will be officially taking over the reins from acting CEO Jean Israel by May 1, 2023.
Zandueta is currently the managing director and chairman of the board of Marsh Philippines, the local arm of the global insurance broker and risk advising company.
“We are delighted to have on board industry veteran Ramon Zandueta as we roll out our plans for OONA Insurance in the Philippines,” said OONA Group CEO Abhishek Bhatia. “Mon will be bringing with him not only tried and tested leadership but also over four decades of expertise in the insurance and risk business.”
Zandueta’s illustrious career in the industry began in 1982 with Ayala-FGU as part of its reputable management training program. He then joined Marsh as the company’s local correspondent broker in the Philippines in 1988. Zandueta also played a key role in the combination of Corporate Insurance Brokers and Johnson & Higgins in 1997 to form Marsh Philippines. He then led the company’s Risk Management Segment and was Head of Broking Operations for the Philippine office until he was promoted to CEO in 2004.
After 17 years of continued growth and establishing various specialty practices in the country, Zandueta assumed the position of chairman of the board in 2021. Throughout his storied career, he has prioritized people and has been a friend and a mentor to many fueled by his passion for building teams and molding new generations of leaders.
“I am excited with this new journey, and 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. The company 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.
Established in 2021, OONA already has presence in Indonesia and Philippines and is fully backed by a $350 million equity commitment by Warburg Pincus. OONA will deploy a unique value creation strategy as it strives to become the region’s pre-eminent technology-forward and retail-focused general insurance player.