AIA Philippines
| Company type | Private |
|---|---|
| Industry | Insurance |
| Founded | 1947 |
| Founder | Cornelius Vander Starr, Earl Carroll |
| Headquarters | Makati , Philippines |
Area served | Philippines |
| Products | Life insurance, General insurance |
| Parent | AIA Group |
The AIA Philippines Life and General Insurance Company Inc., widely recognized as AIA Philippines and previously known as Philippine American Life and General Insurance Company or Philam Life, stands as one of the foremost insurance company entities in the Philippines. By 2020, it was ranked among the top life insurance providers in the nation based on both asset size and net worth.
History
Established in 1947 by Cornelius Vander Starr, the founder of AIG, alongside Earl Carroll, AIA Philippines has built a prominent position within the market. Over the years, it has received numerous honors, including the Asian Management Awards for General and Financial Management, the Reader's Digest Platinum Trusted Brand Award, and a Presidential Citation awarded by the Philippine government in 1994.
In 1961, Philam Life inaugurated its iconic Philam Life Building located in Ermita, Manila, which served as its main office until 2013. The company later moved its headquarters to Bonifacio Global City in Taguig, before shifting again in 2023 to the AIA Tower situated in Makati.
Initially a division of AIG, Philam Life was transferred to a special purpose vehicle amid the 2009 Federal Reserve Bank of New York bailout. Following this, on November 3, 2009, AIA secured regulatory approval to acquire a 99.78% ownership interest in Philam Life. Later that same month, Philam Life acquired a majority stake (51%) in Ayala Life, creating a joint venture with the Bank of the Philippine Islands (BPI), which was rebranded as BPI-Philam Life Assurance Corporation in 2010.
Philam Life earned distinction within the AIA Group as its Top Performing Company across operations in 17 countries, capturing both the AIA Champion's League Gold Cup and Premier League Champion Cup in 2013.
On August 9, 2021, Philam Life officially transitioned its brand identity to AIA Philippines.
Manila office
The former headquarters of the company was housed in the Philam Life Building located in Ermita, Manila. Designed by architect Carlos Arguelles, it was one of the pioneering examples of the International Style architecture upon its completion in 1961.
Architecture
This medium-rise structure featured a rectangular design centered around a core area, offering approximately 20,000 square meters of office space. Its exterior included continuous ribbon-style window glazing complemented by aluminium sunshades supported through pipes and mullions. The complex also incorporated concrete canopies at entrances and a roof structure covering an auditorium. Inside, artworks by prominent Filipino artists such as Galo Ocampo and Vicente Manansala were integrated into the design by Arguelles.
The building gained acclaim for its auditorium—a theater seating 780 people—whose acoustics were engineered by Bolt, Beranek and Newman, making it well-suited for performances of classical music. The Philam Life Theater became an architectural standard for subsequent Philam Life facilities.
Current status
In 2013, Philam Life moved its main offices to Bonifacio Global City in Taguig and sold its Ermita property to mall developer SM Development Corp.. Although there was speculation about converting the site into a shopping mall, SMDC had not finalized any plans regarding the auditorium space.
Demolition work on the Ermita location commenced on August 5, 2020, amidst the ongoing COVID-19 pandemic.
Makati office
Through its real estate subsidiary, the company possesses the Philamlife Tower—currently known as the AIA Tower—ranked as the 14th tallest structure in the Philippines and situated on Paseo de Roxas Avenue in Makati. Opened in 2000, this building has been the main office of AIA Philippines since 2023, following a ten-year period based in BGC, Taguig.
Cebu office
In 2017, the firm finalized a ₱2.1 billion, 17-story corporate facility located in Ayala-owned Cebu Business Park along Cardinal Rosales Avenue. This new center replaced its previous regional office on Osmeña Boulevard in uptown Cebu City. The former site was subsequently transformed into the headquarters for Virginia Food, a regional producer of processed meats.