L-R: ICD Chairman Pete Maniego, ICD Deputy Commissioner Martin Yasay, AIA Philippines Chief Legal Officer & Corporate Secretary Carla Domingo, ICD Board Member Benedicta Du-Baladad, and ICD Honorary Member Jose L. Cuisia, Jr., at the Global Governance Summit at the Marriott Hotel Manila.

AIA Philippines Life and General Insurance Company, Inc. (AIA Philippines), one of the country’s largest life insurance companies, and BPI AIA Life Assurance Corporation (BPI AIA), won the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards, a prestigious accolade recognizing exemplary corporate governance practices.

For AIA Philippines, this is the seventh consecutive year of being honored with a Golden Arrow Award, and for BPI AIA, the fifth straight year. Both companies received three-arrow recognitions.

The ACGS measures the performance of companies by the Philippine Code of Corporate Governance and internationally recommended corporate governance practices as espoused by the ACGS. The award covers areas such as the rights of shareholders, equitable treatment of shareholders, the role of

shareholders in corporate governance, disclosure and transparency, and the responsibilities of the board. Companies that score at least 80 points in the ACGS Assessment are given the award.

“AIA Philippines and BPI AIA value its customers, employees, stakeholders, and shareholders, and upholding the highest standards of corporate governance is how we keep their trust,” said AIA Philippines President and Chief Executive Officer Melita Teo. “We would like to thank the Institute of Corporate Directors (ICD) for recognizing our efforts in corporate governance, which is intertwined with our commitment to providing world-class and exceptional service to our customers and creating long-term value for all our stakeholders.”

AIA Philippines’ and BPI AIA’s corporate governance framework encompasses governance and risk culture, social responsibility, and ethics. AIA Philippines’ Board of Directors is composed of qualified and excellent members who are responsible for the sustainable performance of the Company, which include compliance with statutory and corporate obligations.

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About AIA Philippines

AIA Philippines (AIA Philippines Life and General Insurance Company, Inc.) is one of the country’s largest life insurance companies. Originally established on 21 June 1947 as Philam Life (The Philippine American Life and General Insurance Company), AIA Philippines has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises. Today, AIA Philippines is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group, which operates in 18 markets across the Asia-Pacific region.

AIA Philippines has PHP266.75 billion in total assets¹ and PHP72.54 billion in net worth¹ as of 31 December 2023 while serving nearly 1,200,000 individual policyholders and almost 1,000,000 insured group members.

Based on the Insurance Commission results as of 31 December 2023, the combined total premium income of AIA Philippines and BPI AIA was at PHP27.93 billion.

AIA Philippines understands the needs of its customers and provides holistic solutions that include life protection, health insurance, savings, education, retirement, investment, group, and credit life insurance. Its subsidiaries include BPI AIA Life Assurance Corporation (formerly BPI-Philam Life Assurance Corporation), its bancassurance arm; AIA Investment Management and Trust Corporation Philippines, its trust company managing its local funds; and MediCard Philippines, its wholly owned health maintenance organization (HMO) company.

About AIA

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 – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR², Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR³, and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$286 billion as of 31 December 2023.

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, AIA serves the holders of more than 42 million individual policies and over 18 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 codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.

About BPI AIA

BPI AIA LIFE ASSURANCE CORPORATION is a strategic alliance between two leading companies in the country – AIA Philippines and Bank of the Philippine Islands (BPI). AIA Philippines is the premier life insurance company in the country and the market leader for over 70 years. BPI is a leading universal bank with over 170 years of experience in the local banking industry and an extensive branch network of more than 700 branches and 2,000 ATMs and CAMs.

BPI AIA’s professional and expertly trained Sales Executives are assigned in BPI branches nationwide or work remotely using digital tools to render financial advisory services that address customers' financial and protection needs.

With the combined expertise and resources of the two trusted companies, BPI AIA policyholders are assured that their insurance is backed by financial strength and stability. To know more about us, visit our website. Like us on Facebook, follow LinkedIn, chat with us on Messenger and subscribe to our YouTube Channel.

For more information:

Michelle Velete
Communications Lead
AIA Philippines
michelleelaine.velete@aia.com

Andrea Suarez
Media Relations Manager
Ogilvy Philippines
andrea.suarez@ogilvy.com

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¹ Based on the 2023 annual accounts Securities and Exchange Commission (SEC) filing.
² Hong Kong SAR refers to the Hong Kong Special Administrative Region.
³ Macau SAR refers to the Macau Special Administrative Region.