Former Insurance Commissioner Evangeline Crisostomo Escobillo (left) and retired Major General Nestor Sadiarin. Photo courtesy of Actuarial Society of the Philippines and www.geni.com
MANILA (4th UPDATE) - Former Insurance Commissioner Evangeline Escobillo died Monday following a car accident over the weekend. She was 61.
Her husband, retired Major General Nestor Sadiarin, who was with her in their car, was declared dead on arrival at a hospital in Los Banos, Laguna on Sunday.
Escobillo was first brought to a hospital in Laguna and then to The Medical City in Pasig. Her condition suddenly deteriorated Monday afternoon and she died Monday night (not Tuesday as earlier reported).
They were on their way to their rest house in Majayjay, Laguna after watching the Pacquiao-Mayweather fight in Manila when the car driven by Escobillo hit a tree.
Escobillio served as Insurance Commissioner from 2005 to 2007 during the Arroyo administration.
Sadiarin was chief of the Civil Relations Service (CRS) of the Armed Forces of the Philippines from March 2007 to December 2008.
Escobillo and Sadiarin were married in the US while she was taking her Masters in Public Administration at the Harvard University Kennedy School of Government, which she completed in 2009.
Escobillo was replaced by Eduardo Malinis allegedly after some of her reforms aimed at strengthening the insurance industry were opposed by some stakeholders.
According to the Actuarial Society of the Philippines, during Escobillo's stint in the Insurance Commission, she "made sweeping changes to ensure the robustness of the insurance industry," such as "increased minimum capitalization of insurance companies and brokers, the introduction of risk-based capital framework and the computerization of the Insurance Commission’s operating system and data file."
Escobillo graduated from the University of the Philippines in 1975 with a Bachelor of Science in Mathematics, major in Actuarial Science.
She also served as President of Anchor Savings Bank from 1996-2005.
Escobillo's wake is at the Loyola chapels in Marikina. She will be buried at the Loyola Memorial Park on Sunday.
She is survived by her 3 daughters from her first marriage, Myline, Tin, and Isabelle (Ateneo School of Medicine and Public Health Batch 2014).