MEET THE CEO: Pedro Rego
How did your career in the insurance field begin?
PR: My initiation and career in this sector happened naturally and predictably, depending on the path of growth of the company founded by my father. At the time, as soon as I finished my degree, I joined the company, where I worked in various areas and departments. I started this path in the credit and guarantee department, which I created from scratch, due to the technical affinity with the respective products.
How was F.REGO founded?
PR: F. REGO was founded in 1979 by my father, Fernando Rego, who at the time had a prominent position and was General Manager in one of the largest national insurance companies, decided, continuing his entrepreneurial spirit, to found the company to give a personal approach to customer management, as well as embracing new challenges and new business areas. Since then, and starting from a small initial team of 3 people, the company has grown to 3 offices in Portugal and a team of around 80 employees.
What were the biggest successes and challenges you faced during your career at F. Rego?
PR: It's difficult to identify, in a simple way, which are the greatest successes and challenges, since the management of a company is, in itself, a permanent challenge. I think we should be proud of the company's constant and sustainable growth, which allows us to be one of the largest national operators today, as well as having the preference as customers of some of the largest companies operating in Portugal. Among the biggest challenges, I would highlight the constant evolution of the market and the sector, with a fast and growing digitization of processes, as well as the ability to attract and retain talent, particularly from the new generations.
How would you describe the role of an insurance broker in society?
PR: Insurance brokerage, as a top position in the insurance intermediation market, provides consultancy and risk management services to its clients, playing a fundamental role in defining a risk policy and profile, as well as in the search and design of customized solutions for its customers, always based on a permanent customer service.
With historical importance, I believe that this preponderance has been growing, in the face of a notorious and continuous increase in the complexity of the risks and threats to which People and Companies are exposed. In this context, the ability to accompany, monitor and, above all, anticipate these threats becomes even more relevant for effective, thorough and sustained planning by Organizations and society itself.
How do you see the relationship between art and the insurance business? How does your company relate to art?
PR: The insurance sector, through some of its main operators, namely insurance companies, positions itself as one of the main institutional investors in art, in a logic of value reserve and patronage. On the other hand, art, as a very attractive asset, requires the existence of an adjusted insurance program that guarantees all events that may affect the piece, preserving its owners or curators from damages and liabilities. In our case, I would say that it is a perfect match, combining the personal taste and pleasure of an art lover with the need to share these values with our teams and clients, supporting the market.
Can you tell us how your company F. Rego positions itself in the art insurance market?
PR: Within the brokerage area, insurance for private and institutional collections is one of the areas of greatest activity, always seeking to advise all clients on the most appropriate ways to protect their assets. Having the privilege of having countless clients from the world of art as clients, from institutional to private collectors, as well as ateliers and galleries, we believe that we have a great proximity to this market, presenting very competitive and complete solutions.
What artists and works do you most admire?
PR: Contemporary art, from the 20th century, namely painting, is the area of greatest affinity and taste, seeking, however, to have a comprehensive character, between national and international artists, in choices and preferences. Naturally, those I most admire are the main references of movements such as expressionism, cubism, abstractionism or even surrealism.
Do you have any artistic project or investment? If yes, could you tell us more about this one?
PR: I cannot consider myself a collector, but rather a curious and passionate one, who has sought to put together a set of pieces that, above all, deserve our personal taste, without neglecting the investment aspect.
What is your opinion on investing in art? Do you think it's a good investment?
PR: It is proven that art, as an investment and reserve asset, and from a long-term perspective, is one of the best investments that can be made. If we add to this profitability the taste and personal pleasure of enjoying the talent and art of unique pieces, it seems unquestionable to me that it will be one of the most attractive sectors for personal investment.
What are the risks and rewards associated with investing in art?
PR: As with any investment, there are risks, namely arising from the unpredictability of the behavior of the markets, as well as the difficulty of always understanding which are the right bets in an investment portfolio. Such risks are not unlike those we have, for example, in the capital or real estate markets. I would say that art carries the additional risk of the asset itself and the material damage it may suffer, which must always be protected by adequate insurance. Generally speaking, like other sectors, knowledge, experience and specialized monitoring are the most effective means of mitigating risks and increasing the potential for profitability.
Have you invested in art? If so, how is this type of investment made? Can you give us some examples of investments in art you've made in the past?
PR: Yes, always with a view to combining personal taste for the piece with its potential, current and future value. I believe that, as a private individual, it is essential to invest in pieces that, in addition to valuing them, have a “relationship” with the work, that is, that we take pleasure in enjoying and appreciating it.
What advice would you give someone who is interested in pursuing a career in insurance?
PR: This is one of the most current issues in our sector, with a huge challenge in attracting and retaining talent, particularly young people.
I think it will be important, above all, to demystify a bureaucratic character and some “greyness” that historically characterize the financial sector in general, and insurance in particular. Today, we know that it is possible and highly recommended to innovate, find new ways of making and selling insurance, and above all, creating interest and curiosity to understand the important role that the sector plays in the economy and the constant evolution that it has undergone to adapt. to the new digital world in which we all move. In summary, I would say that the sector should open its doors to society, promoting awareness of its preponderance in the daily lives of People and Organizations, as well as unveiling this new face, modern, technological and with enormous potential for evolution.