AIA Group to invest 58 million USD in its subsidiary Philam Life

AIA Group plans to invest, over the next three years, 3 billion PHP (60 million USD) in its subsidiary Philam Life (Philippines). The funds will be used to expand the business base of the life insurer and develop its distribution network.

The investment will allow to recruit and train 5 000 full-time financial advisors. The 8 000 employees already in office will also benefit from the training programmes.

AIA Group intends to take full advantage of the potential offered by the Philippines, a country with an insurance penetration rate below 2%.

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