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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 larger life insurance companies in the country by assets and net worth ...
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 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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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]
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]