Philippine Insurance Magnate Headlines UA Insurance Day; Ambassador to Receive Humanitarian Award

TUSCALOOSA, Ala. – Alfonso T. Yuchengco, foreign affairs advisor to the president of the Philippines and a secretary in the presidential cabinet, former Philippine ambassador to China, Japan and the United Nations and head of the Yuchhengco Group of Companies, will receive The University of Alabama Global Insurance Humanitarian Award at the Alabama Insurance Day 2008 Conference Thursday, Oct. 9.

The Yuchengco conglomerate encompasses 60 companies in insurance, banking, education, construction and health care.

The Thursday presentation will be held on the UA campus in the Insurance Hall of Fame Lecture Hall and Portrait Gallery in Alston Hall, part of the Culverhouse College of Commerce.

Yuchengco has received a number of awards and citations, including Order of the Sacred Treasure, Gold and Silver Star, from the emperor of Japan in 2003; the Grand Cordon of the Order of the Rising Sun, from the emperor of Japan; the Order of Sikatuna, Rank of Datu, from then Philippine President Fidel Valdez Ramos; Knight Grand Officer of Rizal, Knights of Rizal; Order of Lakandula, Rank of Bayani (Grand Cross); and Most Distinguished Alumnus and Hall of Fame Awardee, Far Eastern University, 1955 and 2003, respectively.

“Secretary Yuchengco is a very astute businessman, who is responsible for a number of innovations in the field of insurance,” said Dr. William Rabel, professor of finance and the John and Mary Louise Loftis Bickley Endowed Teaching Chair of Insurance & Financial Services.

The presentation of the award and the day-long conference reflects a resurgence in the insurance program at the University, Rabel said.

Alabama I-Day will begin with a continental breakfast in the Alston Hall courtyard at 7:45 a.m., followed by several sessions covering a range of topics including insurance-related issues, disaster recovery, and healthcare. Lunch will be served for attendees at Bryant Denny Stadium in The Zone with a second session afterward.

The Culverhouse College of Commerce and Business Administration was established in 1919, and in 1929, it became the 38th school to earn admission into the American Association of Collegiate Schools of Business. The excellence of the UA business school has been acknowledged on a national level. The undergraduate program is ranked 29th among public universities by U.S. News, and the Culverhouse School of Accountancy is ranked 15th among public universities by U.S. News. The graduate accounting program is ranked 15th and the undergraduate program 14th by Public Accounting Report.