| Type | Subsidiary (of AIA Group) |
|---|---|
| Industry | Insurance Financial services Real estate |
| Founded | 1947 |
| Founder(s) | Cornelius Vander Starr Earl Carroll |
| Headquarters | Philamlife Tower 8767 Paseo de Roxas Avenue, Makati City, Philippines |
| Area served | Philippines |
| Key people | Trevor Bull (President and CEO) |
| Products | Insurance annuities mutual funds |
| Revenue | PHP34.6 billion (2008)[1] |
| Net income | PHP 3.3 billion (2008)[1] |
| Total assets | PHP 158.6 billion (2008)[1] |
| Total equity | PHP 27.7 billion (2008)[1] |
| Employees | |
| Parent | American International Assurance |
| Website | Philamlife.com |
Philippine American Life and General Insurance Company known as Philamlife is an insurance company based in the Philippines.
It was a member of American International Group, but separated from the group in 2008 after it was finalized that Philamlife, American International Assurance (AIA) and ALICO (another AIG subsidiary) were placed under the administration of a Special Purpose Vehicle in exchange for the Federal Reserve Bank of New York bailout.[2]
On November 3, 2009, the American International Assurance (AIA Group) bought 99.78% stake of Philamlife after approval of government regulators.[3] On November 27, 2009, the new Philamlife bought a 51% stake in Ayala Life and formed a joint venture with the Bank of the Philippine Islands (BPI). It was later renamed as BPI-Philam Life Assurance Corp.(BPI-Philam) in 2010.[4]
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