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Tuesday, December 12, 2023

AIA PH optimistic on Q1 performance

One AIA Philippines, which combines the businesses of AIA Philippines and bancassurance arm BPI AIA, expects to end the first quarter on a high note, a top executive said Monday.

“The gradual return to normal at the first quarter makes us very optimistic and excited for what is ahead,” said Kelvin Ang, chief executive of AIA Philippines which was formerly known as AIA Philam Life.

“The past two years have underscored the importance of protection and health and wellness. As One AIA Philippines, together with BPI AIA, we remain committed to our mission of saving lives through our protection products, and to being the partner of Filipinos in helping them be the healthiest they can be through our health and wellness propositions,” said Ang.

BPI AIA chief executive Surendra Menon explained their move to align with the AIA Group including streamlining their systems and developing processes to elevate the services provided to clients. AIA Group’s value of new business went up by 18 percent and operating profit after tax rose 6 percent. AIA Group demonstrated its financial strength by announcing a $10-billion share buy-back program.

AIA Philippines chief financial officer Gary Ogilvie said the company closed 2021 at the top among insurers in terms of net worth and net income in the country.

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