A Stronghold in the Industry
“As the President and General Manager of Stronghold Insurance, Company, Inc., Romulo I. Delos Reyes, Jr. is bullish about his company becoming the leading non-life insurance provider in the country by 2030.”
Romulo I. Delos Reyes, Jr. is the President and General Manager of Stronghold Insurance Company, Inc. – a prominent non-life insurance company of the Philippines that is celebrating its 64th year anniversary this year.
Talking about his relationship with the company, Mr. Delos Reyes began his career in 1979 as a working student and collector. Through perseverance and hard work, he advanced through various roles, including fire inspector, underwriting supervisor, and underwriting manager.
“My progression continued as I was promoted to Vice-President for operations, then Vice-President and General Manager, followed by Executive Vice President and General Manager. I am now honoured to serve as President and General Manager,” he says.
Throughout his 45 years with the company, his career trajectory has showcased a leadership style grounded in perseverance and adaptability. “Each role I undertook, whether it was leading a small team or the entire company, I have navigated and been able to lead through evolving challenges, opportunities and milestones,” he says.
About Stronghold Insurance Company, Inc.
Stronghold Insurance is among the top 10 non-life insurance companies in the Philippines. The company achieved 3rd in Net Income Performance, 3rd in Paid-Up Capital, 9th in Company Assets, 4th in Premiums Earned, and 5th in Net Premium Written as of December 2023 based on the Insurance Commission’s Report. These rankings reflect their strong financial health and competitive position in the industry.
Setting an ambitious target for the company, Mr. Delos Reyes says that, “By 2030, we envision to be the leading non-life insurance provider in the country.”
One reason why Delos Reyes’s vision is grounded in reality is because all the strategies are in place. Aside from offering a wide-range of non-life insurance products and services, Stronghold Insurance operates the widest distribution network of offices in the industry. This allows them to develop and sustain lasting personal and business relationships with their clients.
“Our Company takes pride in valuing the strong bond we have with people. As what I have always said, ‘clients’ satisfaction is the ultimate strategy above all,’” he says.
In addition to achieving industry recognition, Stronghold Insurance reached several key milestones in recent years. One significant accomplishment occurred in December 2023, when they completed the largest single premium transaction by securing the Reinsurance of the Property and Engineering Combined Risk and Catastrophe Excess of Loss Treaty Service for the Government Service Insurance System. This transaction, a collaboration with the government-owned and controlled corporation of the Philippines, provided a total coverage of 13 billion pesos (PHP13,000,000,000.00).
The company’s expansion is evident in its growing network, with over 150 offices spread across the Philippines. They have established two major multi-storey buildings in Visayas and Mindanao, reinforcing their presence and improving accessibility for customers seeking their insurance products and services.
Stronghold has also diversified into several new ventures, including rural banking, an auto shop, public transportation, non-life insurance, reinsurance broking, and holding company investments. These initiatives have strengthened their market presence and unlocked additional revenue streams.
Finally, their exceptional employee retention rate of 92%, paired with an attrition rate of only 8%, reflects the company’s dedication to maintaining a positive work environment and effective talent management, further supporting their long-term success.
Personal Achievements
Creating a supportive and nurturing environment for employees is one of the more notable personal achievements for Mr. Delos Reyes. “Having once been an employee myself before becoming a leader, I draw on my personal experiences to foster a workplace where everyone feels valued and empowered.” This perspective has enabled him to understand the needs and aspirations of the company from both a personal and leadership standpoint.
His ability to blend with the people has also given him the capacity to make everyone feel heard and valued. “I always take a hands-on approach to improve overall job satisfaction and productivity,” he says.
In fact, providing employees with opportunities for growth and advancement is one of his key focuses. Stronghold Insurance has 557 employees and 1589 General Agents. By identifying and nurturing talent, he ensures that all team members see a clear path for their professional development within the organization.
Staying Ahead of Trends
One of the strategies Mr. Delos Reyes has implemented to stay ahead of the competition is by staying ahead of industry trends. They continuously monitor market developments and integrate relevant innovations into their operations. This forward-thinking approach has allowed them to anticipate and respond to emerging trends effectively, ensuring that they remain competitive and relevant in the ever-evolving market.
CSR Initiatives
Apart from business performance, Stronghold Insurance strives to make a positive and lasting impact on society by committing to CSR.
They actively participate in medical missions for those who do not have access to medical care, and have established the DAVID C. MERCADO foundation in honour of their late Chairman Emeritus, Mr David C. Mercado, Sr. to focus on providing charity to various groups. Additionally, the company provides relief to communities affected by natural disasters. They actively distribute relief goods and support recovery efforts to help those in need to rebuild their lives.
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