ABOUT PHILAM LIFE

Who We Are

The AIA Group exists to provide our customers with financial protection, security, and a comfortable future.

As a company, we understand that life is unpredictable. It has its highs as well as its challenges - and everyone is on a different journey. That’s why our starting point has always been understanding people. By being genuinely engaged with people’s real lives, we gain deeper insights that enable us to offer a range of insurance and wealth management products that fit the needs of the individual.

Over the last 90 years, we’ve built our business upon serving the ever-changing needs of people and companies in Asia. Our personal, relationship-based approach has made us part of the fabric of life here. And we will continue to protect generations of people, for many years to come, whatever life brings them.

So whether you need support in achieving your ambitions, supporting a family, enjoying retirement, or anything else: we understand where you’re coming from, because we’ve been there ourselves.

That’s why we like to think of ourselves as the real life company.

The Largest Independent Listed Pan-Asian Life Insurance Group in the World

 

AIA Group Limited and its subsidiaries (collectively “the AIA Group” or “the Group”) comprise the largest independent publicly listed pan-Asian life insurance group in the world. It has wholly-owned main operating subsidiaries or branches in 14 markets in Asia Pacific - Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau and Brunei and a 26% joint venture shareholding in India.

The Group traces its origins in Asia back more than 90 years. It is a market leader in the Asia Pacific region (ex Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It has total assets of US$107.9 billion (as at 30th November 2010).

The AIA Group meets the savings and protection needs of individuals by offering a comprehensive suite of products and services including retirement planning, life insurance and accident and health insurance. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of more than 260,000 agents and over 21,000 employees across Asia Pacific, AIA serves the holders of over 23 million individual policies and over 10 million participating members of group schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code ‘1299’.

Our History



Helping Filipinos and Contributing to the Country’s Development Since 1947

Philam Life has a rich history in the Philippines – from its establishment in 1947 that helped in the recovery of post-war Philippines up to its present status as the leader in the life insurance industry.

1930s – AIG founder Cornelius Vander Starr sets up offices in the Philippines through the Asia Life Insurance Company (Asia Life) and the United States Life Insurance Company (U.S. Life).

1947 – C.V. Starr and Earl Carroll establish Philam Life as a domestically incorporated insurer, a move that would allow the company to infuse tremendous capital into the country’s post-war economy.

1949 – Philam Life becomes the number one life insurance company in the Philippines.

1961 – Inauguration of the Philam Life building in United Nations Avenue, Manila. The building becomes an infrastructural landmark and a center of culture.

1969 – Cesar Zalamea becomes the first Filipino President of Philam Life.

1981 – Rodrigo de los Reyes, the third President of the company further strengthened Philam Life by focusing on building the agency force.

1992 – Philam Life is conferred the Asian Management Award for General Management. A year later, the company would win its second straight Asian Management Award for Financial Management.

1993 – Former Central Bank Governor Jose L. Cuisia, Jr. assumes the presidency of Philam Life. In recognition of his excellent stewardship of the company, Mr. Cuisia would later be named CEO of the Year and Personality of the Year by the Raul Locsin and Asia Insurance Industry Awards, respectively.

1994 – Philam Life receives the Presidential Citation from the Philippine government for the company’s invaluable contribution to nation-building and service to the country.

1997- Philam Life celebrates its 50th year anniversary; establishes Philam Foundation to pursue its CSR initiatives.

2000 – Philam Life Tower, one of the country’s tallest and most technologically advanced buildings is inaugurated.

2003 – Philam Life receives ISO accreditation for its product development process. Two years later, its accreditation expands to include branch servicing.

2006 – Philam Life becomes the first financial institution to receive the Reader’s Digest Platinum Trusted Brand Award.This is the third consecutive Platinum Award received from Reader’s Digest.

2007 – Philam Life celebrates its 60th year anniversary.

2008 – Philam Life pioneers innovative products such as: Winning Edge, a single premium, index-linked variable life product that provides investors with access to global equity indices and their potential upside returns while keeping the principal investment intact; and Asset Builder, the first VUL product in the Philippine market without a premium charge, making it possible to maximize 100% of one’s total investment.

2009 – Philam Life receives its sixth consecutive Platinum Trusted Brand awards from Reader’s Digest Asia (2004-2009), making it the first and only financial institution in Asia to receive such a distinction.

In the same year, Philam Life also introduces new pioneering products – Health 100, the country’s first health insurance product that provides a comprehensive range of living benefits up to age 100 and Prime Yield, the country’s first dollar-denominated High Water Mark (HWM) VUL product.

It is likewise on this year when Jose L. Cuisia, Jr. retires from his post as President and CEO of Philam Life upon reaching the mandatory retirement age of 65 after serving the company for 16 years. Mr. Cuisia is succeeded by Trevor Bull who previously served as Managing Director of Tata AIG Life Insurance Company in India.

Philam Life also partners with Bank of the Philippine Islands (BPI) to form BPI-Philam, which serves as its bancassurance arm.

On November 3, 2009, Philam Life becomes part of the AIA Group, a leading pan-Asian life insurance organization that traces its roots in the Asia-Pacific region for more than 90 years.

June 2010 – Philam Life launches “The Power of We” and “The Power of Insurance” advertising campaigns.

“The Power of We” campaign highlights the power of people working together to achieve their dreams and aspirations in life.

“The Power of Insurance,” on the other hand, aims to create a more compelling need for insurance and introduce Philam Life to the broader market who are uninsured.

Philam Life receives two Trusted Brand Awards in the insurance (Philam Life) and investment fund (PAMI) categories from Reader’s Digest Asia.

2011 – Rex A. Mendoza is appointed as the new Philam Life Chief Executive Officer. He has been a senior executive with Philam Life before, assuming various management positions for more than 20 years. With his leadership and expertise in the Financial Services Industry, Mr. Mendoza will continue to strengthen Philam Life’s already strong leadership position in the Philippines with a view to accelerate its growth to the next level.

Philam Life also receives its 7th Platinum Trusted Brand Award from Reader’s Digest Asia.

Our Achievements



Earning the Trust and Loyalty of Customers from Generation to Generation

Philam Life has the strongest brand name in the industry and has acclaimed management strength and leadership. The company has reaped numerous awards that are testaments to its reputation for excellence and responsiveness to customer needs:

Philam Life was conferred the prestigious Asian Management Award for two consecutive years (1991 to 1992) for strong performance in General and Financial Management.

Philam Life received 18 Professional Education Awards from the Life Office Management Association (LOMA) for outstanding employee development programs.

Philam Life was recognized by the Philippine government through the Overseas Workers Welfare Administration (OWWA) for its outstanding programs for Overseas Filipino Workers.

Philam Life received the Presidential Citation from the Philippine government for its contribution to nation-building.

Philam Life is the first and only financial institution in Asia to receive Eight Platinum Trusted Brand awards from Reader’s Digest Asia (2004-2009). The awards were based on consumer surveys measuring trustworthiness, credible image, quality, value, understanding of customer needs and innovation.

Our Financial Highlights



Unmatched Financial Strength in the Life Insurance Industry

In 2011, Philam Life has achieved these financial milestones:

Gross Revenues of P37.5 billion
Premium Income of P20.0 billion
Investment Income of P13.1 billion
Consolidated Assets of P207.3 billion
Stockholders’ Equity of P66.4 billion
Gross Insurance Benefits & Claims of P11.0 billion

SOURCE: 2011 Annual Report

Our Affiliates

Philam Life has formed several strategic partnerships and alliances over the years thereby strengthening its life insurance and wealth management business to better deliver our commitments to our valued clients.

Philam Foundation

Philam Foundation is the corporate social responsibility arm for the Philam Group of Companies. Established in 1997 to commemorate Philam Life’s 50th Golden Anniversary, the Foundation has focused its assistance in the areas of Health, Education, Arts & Culture and Livelihood Development (HEAL). For 2011, Philam Foundation’s major thrust is Education.

Philam Asset Management, Inc. (PAMI)

Philam Asset Management (PAMI) is an asset management company that administers, distributes and provides investment advisory to nine (9) mutual funds.

BPI-Philam Life Assurance Company

BPI-Philam Life Assurance Corp. is a strategic bancassurance alliance between two leading companies in the country today - The Philippine American Life and General Insurance Company (Philam Life) and Bank of the Philippine Islands (BPI).

Philam Properties Corporation

Philam Properties Corporation (PPC) provides corporate real estate services for Philam Life and affiliate companies by managing the company’s real estate portfolio across the Philippines from new development, commissioning, management, marketing/leasing, tenancy administration, and disposition.

Our Management Team

Philam Life Board of Director

EDMUND S.W. TSE
Chairman of the Board, Philam Life
Non-Executive Chairman, AIA Group

JOSE L. CUISIA
Vice Chairman, Philam Life
Ambassador Extraordinary and
Plenipotentiary to the U.S.A.

REX MA. A. MENDOZA
President & Chief Executive Officer

REYNALDO C. CENTENO
SEVP & Chief Technology and Life Operations Officer

OMAR T. CRUZ
EVP & President & CEO, BPI-Philam

CESAR A. BUENAVENTURA
Independent Director, Philam Life
Managing Director, Buenaventura, Echauz & Partners

FRANCIS G. ESTRADA
Independent Director, Philam Life
Independent Director, Ayala Land Incorporated
Advisory Board Member, Rizal Commercial Banking Corporation
Vice-Chairman, Institute for Corporate Governance

RICARDO J. ROMULO
Director, Philam Life
Senior Managing Partner, Romulo, Mabanta, Buenaventura,
Sayoc & De Los Angeles Law Offices

WASHINGTON Z. SYCIP
Independent Director, Philam Life
Founder, SGV Group

GORDON T. WATSON
Director, Philam Life
EVP & Regional Chief Executive, AIA Group

Senior Management

REX A. MENDOZA	REYNALDO C. CENTENO	OMAR T. CRUZ
President & Chief Executive Officer	SEVP & Chief Operating Officer	EVP, President & CEO, BPI-Philam
JESSICA C. ABAYA	ROMULO P. CAMBALIZA	ARIEL G. CANTOS
SVP & Head of Marketing	SVP & Head of Information Technology	SVP & Chief Agency Officer
GERARD M. CARIASO	JOSE ROEL V. TEVES	ARLEEN MAY S. GUEVARA
SVP &  Head of Human Resources	SVP & Head of Operations & Strategic Initiatives Offices	SVP & Chief Investment Officer
ANDREAS W. ROSENTHAL
SVP & Chief Financial Officer