Richard S. Lim has been elected president of the Philippine Life Insurance Association, Inc. (PLIA) by its members, and officiated by Insurance Commissioner Hon. Reynaldo A. Regalado. Previously serving as treasurer, Lim aims to boost financial literacy and life insurance accessibility under his leadership. He emphasises the importance of industry growth, Filipino welfare, and stakeholder engagement to further the mission of PLIA, stressing unity and regulatory enhancement for the industry’s progressive development. The PLIA, founded in 1950, represents life insurance companies in the Philippines, promoting their role in the nation’s economic growth.