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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, Asian Management Award for Financial Management, and the Reader's Digest Platinum Trusted Brand Award.
The AIA Tower, formerly the Philamlife Tower, is an office skyscraper located in Makati, Philippines. [10] It is owned and developed by Philam Properties Corporation, the real estate arm of the Philippine American Life and General Insurance Company (Philamlife, now AIA Philippines). [6]
AIG's corporate headquarters are in New York City and the company also has offices around the world. AIG serves 87% of the Fortune Global 500 and 83% of the Forbes 2000. [11] AIG was ranked 60th on the 2018 Fortune 500 list. [12] According to the 2016 Forbes Global 2000 list, AIG is the 87th largest public company in the world. [13]
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On 21 December 2012, AIG sold all of its 13.69% shareholding in AIA. [11] Since 2 June 2013, AIA has had an exclusive bancassurance agreement with Citibank that encompasses 11 AIA markets in Asia-Pacific, namely Hong Kong, mainland China, South Korea, Singapore, Thailand, Malaysia, Indonesia, the Philippines, Vietnam, Australia, and India. [12]
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AIG's AIU Insurance unit has run a P&C insurance in the country since 1946, and is now the largest foreign nonlife insurer with 14,000 agents nationwide. [3] In retail auto and L&H space, AIG owns American Home and Fuji Fire and Marine Insurance company. [4] Since Jan 2018 AIU and FFM business units merged in AIG Sonpo.
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