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CARD MBA receives Golden Arrow Award for Good Corporate Governance

Press Release
March 2, 2021

SAN PABLO CITY – The CARD Mutual Benefit Association (CARD MBA), the microinsurance arm of CARD MRI, was awarded a Two Golden Arrow Award during the virtual ceremony of the ASEAN Corporate Governance Score (ACGS) on February 19, 2021.

The Golden Arrow Awards recognizes publicly listed companies (PLCs) and insurance companies from participating ASEAN countries that has scored at least 80 points in the 2019 ACGS Assessment. ACGS is an initiative introduced by the Asian Development Bank (ADB) and the ASEAN Capital Markets Forum in 2011 to serve as a point of reference to understand the corporate governance standard that a company has. CARD MBA was given a score of 91.8 by the Institute of Corporate Directors (ICD), a non-profit organization that sets standards for corporate governance and the domestic ranking body for the Philippines.

“We are ecstatic that we continue to improve each year. From One Arrow in 2018, we have now stepped up and received Two Arrows. This inspired us to ensure that the culture of corporate governance in our institution continues so that we can provide the best service to our stakeholders,” CARD MBA CEO Ms. May Dawat said. She mentioned that together with other institutions of CARD MRI, improving the quality of service and relationship to the Filipino people is a step towards a better quality of life.

CARD Mutual Benefit Association (CARD MBA) is an institution under CARD MRI that offers microinsurance services and covers unforeseen accidents and death. Currently, CARD MBA has more than 21 million insured individuals and more than 6 million active members.

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