The Department of Finance (DOF) has awarded Insurance Commissioner Emmanuel F. Dooc with the Baldomero B. Aguinaldo award.
The award is given to officials who are known to embody the values and traits in the DOF credo. Two officials from the DOF and its attached agencies were given the award during the anniversary party of the DOF on April 26 at the Bureau of Treasury office.
The award was given by Secretary of Finance Cesar V. Purisima, to Dooc, for his leadership in the insurance industry. During his term, the commissioner was able to expand the penetration of the insurance industry in the country and continues to ensure that citizens are covered with quality insurance services.
This resulted to the increase in the sector’s contribution to the economy’s GDP from 1.03 percent in 2009 to 1.56 percent in 2014, with 37 million Filipinos, or 37.35 percent of the population being covered by life insurance.
Dooc’s implementation of Republic Act (RA) 9829, or the Pre-Need Code of the Philippine and RA 10607, or the Amended Insurance Code was also a big factor to the increase of quality and affordable insurance services for Filipinos.
Dooc was also cited for “enhancing the resilience of the overall economy by prescribing minimum capital requirements for insurance companies, and brightening the sector’s prospects with the influx of investors who now place renewed faith in our nation’s insurance industry.”
The Baldomero B. Aguinaldo award was created in recognition of the outstanding achievements of the people behind the DOF. Awardees who have received such recognition include Bureau of Internal Revenues Commissioner Kim Jacinto Henares, National Treasurer Rosalia V. de Leon, DOF Undersecretary John Philip P. Sevilla and Finance Undersecretary Jeremias N. Paul Jr.