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24 June 2016
Philam Life is pleased to announce the appointment of Mr. Ariel G. Cantos as its new Chief Executive Officer, effective June 24, 2016. Mr. Cantos succeeds Mr. Axel Bromley, who has decided to relocate to the United States for personal reasons.
Prior to his appointment, Mr. Cantos held the role of CEO of BPI-Philam, the bancassurance joint venture of Philam Life and the Bank of the Philippine Islands (BPI), the leading bancassurance operation in the Philippines.
Gordon Watson, Regional Chief Executive, AIA Group, said, “I am delighted that Aibee is assuming the role of CEO of Philam Life. Aibee has spent his entire career with Philam and has successfully held a range of senior leadership positions over the course of his long career. I am confident that Aibee will help lead Philam Life to new levels of growth and success. I would also like to acknowledge the work of Axel Bromley, who helped to lay the foundation for Philam Life’s transformation journey. We wish Axel and his family all the best in their next chapter of life back in the United States.”
Mr. Cantos, known among peers as “Aibee,” joined Philam Life as a management trainee and over a career spanning almost 30 years, subsequently held a number of senior roles, including Profit Center Head of Accident & Health Products, Sales Director of Manila Agencies, and Sales Director of Provincial Agencies. His most recent position at Philam Life was Senior Vice President and Chief Agency Officer, where he led over 450 agency leaders and 6,000 advisors, before joining BPI-Philam in 2013.
As CEO of Philam Life, Mr. Cantos will lead a team that is united in its commitment to achieve Philam Life’s Vision to become the undisputed leader in life insurance and wealth management in the Philippines.
Mr. Cantos said, “I am truly honoured to have the opportunity to lead Philam Life. The outlook for our Company is extremely bright, as we continue to strengthen our distribution channels by advancing our Premier Agency strategy as well as driving bancassurance growth and expanding our portfolio of corporate clients. We will also continue to invest in new technologies and modern facilities to ensure that our advisors are well equipped to provide the best possible experience to our large customer base as we help them to lead longer, healthier, and better lives.”
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About Philam Life
The Philippine American Life and General Insurance Company (Philam Life) is the country’s premier life insurance company. Established on 21 June 1947, Philam Life has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises.
Philam Life has PHP236.4 billion in total assets as of 31 December 2015 and has delivered timely payouts of over PHP10 billion in education benefits (2004-2015) and over PHP131 billion in insurance benefits (1950-2015), while serving close to 600,000 individual policyholders and over 2 million insured group members.
Philam Life understands the real life needs of its customers and provides the right plans and the right solutions including life protection, health insurance, savings, education, retirement, investment, group and credit life insurance. It also offers bancassurance and fund management products and services through its subsidiaries – BPI Philam Life Assurance Company (BPI-Philam) and Philam Asset Management Inc. (PAMI).
Philam Life is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar and Cambodia.
The business that is now AIA was first established in Shanghai almost a century ago. 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 had total assets of US$168 billion as of 30 November 2015.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 29 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).