PSC, Pioneer Insurance fetes SEAG Medalists, doubles coverage

The Philippine Sports Commission (PSC) brought about 25 athletes to represent the 247 medalists of the 32nd Southeast Asian Games to the offices of Pioneer Insurance in Makati City on Monday, July 17, to celebrate their victories. As an incentive, Pioneer Insurance announced that coverage for all SEAG medalists will be doubled until January of 2024.

Led by Olympic silver medalist in boxing, Nesthy Petecio, the athletes expressed their appreciation for the gesture of recognition.

Pioneer Insurance, which has been actively supporting sports since the famed ‘Thrilla in Manila’ was held in the Philippines in 1975, is not lost on the hard work a national athlete needs to invest in order to achieve success, as they expressed their joy in finally meeting some of the country’s champions.

PSC Commissioner Walter Torres, Commissioner Bong Coo and Commissioner Fritz Gaston, Pioneer Insurance Group Head Lorenzo Chan and Pioneer Insurance Group President and CEO Atty. Betty Medialdea, together with national athletes who won medals at the 32nd SEA Games in Cambodia. [PSC photo]

Lorenzo Chan, Pioneer’s Group Head, said that their company has been a staunch sports supporter “win or lose.” He further encouraged the national athletes to appreciate both situations since “without defeat one cannot fully appreciate winning.”

This was echoed by the company’s President and CEO, Atty. Betty Medialdea who added that being in the company of true champions that day reminded all of them what an indomitable spirit and determination can achieve. She vowed to explore future collaborations between PSC and Pioneer Insurance, aiming to develop more projects that will benefit the country’s national athletes.

PSC Commissioner Bong Coo, who delivered a short speech on behalf of PSC Chairman Richard Bachmann, expressed excitement to join hands with Pioneer insurance to provide financial education to our athletes and explore possibilities of wider coverage for our champions.

This incentive is on top of the monetary incentives our medalists will receive under the Expanded Incentives Act or Republic Act 10699. Under the law, the government through the PSC, will grant financial rewards to SEAG medalists in the amount of P300,000; P150,000 and P60,000 for gold, silver and bronze medalists respectively. The incentives awarding is scheduled on July 20, Wednesday, at the Malacañang Palace with no less than President Ferdinand Marco, Jr. in attendance.