AIA Philippines

The AIA Philippines Life and General Insurance Company Inc., commonly known as AIA Philippines and formerly known as the Philippine American Life and General Insurance Company or Philam Life, is an insurance company based in the Philippines. As of 2020, it is one of the largest life insurance companies in the country by assets and net worth.[2][3]

History

AIA Philippines was founded in 1947 as Philam Life by Cornelius Vander Starr, the founder of AIG, and his partner Earl Carroll.

The company has received various awards, such as the Asian Management Award for General Management, the Asian Management Award for Financial Management, and the Reader's Digest Platinum Trusted Brand Award. In addition, it also received the Presidential Citation from the Philippine government in 1994.[4]

In 1961, the company inaugurated its office, the Philam Life Building, in Ermita. The building soon became a landmark structure as well as a center of culture and the arts in Manila.

Office buildings

Manila office

The Philam Life Building in Ermita, Manila, was the former headquarters of the company. Designed by Carlos Arguelles, the building was one of the first structures built in the International Style of architecture.[9] It was completed in 1961.[10]

Architecture

The medium-rise block was a rectangular structure with a centralized core that allowed some 20,000 square meters of office space to be daylit through the use of wraparound ribbon window glazing and aluminum sunshades supported by pipes and millions.[11] Sculpted concrete formed entrance canopies and a roof for the complex's auditorium. Arguelles also used the artwork of Filipino artists like Galo Ocampo and Vicente Manansala to decorate the interior.[12]

The building was best known for its auditorium, whose acoustical profile was highly suitable for classical music. Known for its excellent acoustics, the Philam Life Theater was a 780-seat theater whose acoustics were done by Bolt, Beranek and Newman. It was considered a model for the other Philam Life buildings in terms of design.[13]

Current status

In 2013, Philam Life moved its headquarters to Bonifacio Global City in Taguig and sold the Ermita site to mall developer SM Development Corp (SMDC). Although many expected the site to be turned into a shopping mall, SMDC had not decided what to do with the auditorium.

On August 5, 2020, the demolition process began for the Ermita site amid the COVID-19 pandemic.

Architecture

Current status

On August 5, 2020, the demolition process began for the Ermita site amid the COVID-19 pandemic.

Makati office

The company also owns the 14th-tallest building in the Philippines, the Philamlife Tower (now the AIA Tower), along Paseo de Roxas Avenue in Makati, through its real estate affiliate. The building was inaugurated in 2000. It has also served as the AIA Philippines headquarters since 2023, just a decade after the company moved its headquarters to BGC in Taguig.

Cebu office

The company also built a ₱2.1 billion 17-storey corporate center within the Ayala-owned Cebu Business Park along Cardinal Rosales Avenue (facing Ayala Center Cebu) to replace the brutalist building that served as its Cebu regional office on Osmeña Boulevard (formerly Jones Avenue) in uptown Cebu City. The new building was completed in 2017.[14] The original office on Osmeña Boulevard would later become the new corporate headquarters of Virginia Food, a local processed meat manufacturer.

former name	Philippine American Life and General Insurance Company Philam Life
foundation	June 21, 1947
founders	Cornelius Vander Starr Earl Carroll
location	23/F 8767 Philam Life Tower, Paseo De Roxas, Makati City
key people	Wing-Shing (Jacky) Chan (Chairman) Kelvin Ang (President and CEO)
area served	Philippines
industry	Financial services
products	Insurance, annuities, mutual funds
revenue	₱20.88 billion (2019)‡R1R‡
operating income	₱9.19 billion (2019)
net income	₱7.69 billion (2019)
assets	₱292.97 billion (2019)
equity	₱91.2 billion (2019)
homepage	aia.com.ph/en/index.html
parent	AIA Group

History

Office buildings

Manila office

Architecture

Current status

Architecture

Current status

Makati office

Cebu office

External links

References