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05 July 2017
CEBU CITY, PHILIPPINES – Philam Life remains committed to its participation in nation building as it strengthens its presence in the Visayas region on the occasion of its 70th anniversary.
The company recently inaugurated the Philam Life Center Cebu, located along Cardinal Rosales Avenue, right at the heart of Cebu’s Central Business District. It is the first Prime Building in Cebu that is pre-certified LEED Silver and is expected to set a new standard in quality. Its construction is the benchmark of international best practices such as high floor loading capacity, high wind load capacity (250kph), high elevator handling capacity, high clear ceiling height (3 meters) and energy efficient design.
The building is a pioneer in technology, given its high efficiency and back-up system; built to cater to the requirements of modern offices in today's economy. It is expected to attract top tier traditional offices and multinational tenants who are looking to situate their offices in city landmarks that are prime, safe and sustainable.
To date, it has already earned several accolades from the Property Guru Philippines Property Awards, including winning the Best Office Landscape Architectural Design and being highly commended for Best Green Development, Best Office Development and Best BPO Office Development.
Cebu’s growth and economic development has captured the interest of Philam Life to invest in the area. Dr Mark Konyn, AIA Group’s Chief Investment Officer said, “Philam Life is part of the AIA Group and at AIA, we share a vision that promotes sustainable economic development across all of the 18 economies where we operate in Asia-Pacific. From an investment perspective, this is illustrated by our commitment to support the local capital markets, to invest in infrastructure, and to direct domestic savings into productive investments that create growth opportunities for people locally.”
“Philam Life has recognized the region’s viability as early as the 1950s when we built our first building, Philam Life Cebu, along Jones Avenue, now called Osmeña Boulevard,” said Aibee Cantos, Philam Life’s Chief Executive Officer. “As we look forward to our next 70 years and beyond, we remain committed to be part of spurring the economic momentum the region has achieved.”
The Philam Life Center Cebu inauguration was graced by Cebu Government Officials and AIA Group and Philam Life Executives. From left to right: Philam Life Chief Investment Officer Arleen Guevara, AIA Group Head of Real Estate Investment Parkes Lee, Philam Life CEO Aibee Cantos, Hon Cebu Vice Governor Agnes Magpale, AIA Regional Chief Executive Jacky Chan, AIA Group Chief Investment Officer Dr Mark Konyn, Hon Cebu City Vice Mayor Edgardo Labella.
About Philam Life
The Philippine American Life and General Insurance Company (Philam Life) is the country’s premier life insurance company. Established on June 21, 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 P245.9 billion in total assets as of December 31, 2016 and has served more than 700,000 individual policyholders and over 2,500,000 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, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar.
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$185 billion as of 30 November 2016.
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 30 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”).
Abbie L. Remo
Philam Life Head of Corporate Communications and PR
Mobile no. +63(917) 6265058