Insular Life interested in joining gov't infra push

Cathy Yang, ABS-CBN News

Posted at May 16 2017 12:11 AM | Updated as of May 17 2017 12:11 PM

Insular Life CEO Nina Aguas (L) talks to ANC's Cathy Yang (R).

MANILA - Insular Life is interested in taking part in President Duterte's infrastructure program.

The largest Filipino owned insurance firm said it sees an opportunity in the government's plan to spend P8 trillion on infrastructure during Duterte's term.

Insular chief executive officer Nina Aguas said they are currently in talks with big local companies for possible partnerships, but they are worried about entering projects that may carry political risks.

"For example, I know the toll roads have been privatized, long term, but the political reality of it is when they want to raise tolls, I think there's a bit of a political undertone to that and people resist the increase," Aguas said in an interview with ANC's Cathy yang.

Aguas also admitted that Insular Life is being "courted" by several foreign entities interested in buying out the mutual life insurance company.

But she added that for now, it is best for insular to stay independent.

Aguas said 2016 had been a "flattish year" for the insurance industry but Insular managed to offset some of the weakness through non-life revenues incurred in leasing out its properties.