THE PHILIPPINE American Life and General Insurance Co. (Philam Life) has named its new chief executive officer (CEO) effective next month after its current head announced his retirement.
In a statement on Tuesday, Philam Life said its Hong Kong-based parent firm AIA Group has appointed Kelvin Ang as its local unit’s new CEO effective March 1.
Mr. Ang was designated as the new CEO as Philam Life’s current CEO Ariel G. Cantos announced his retirement after working for the insurance company for 35 years.
Mr. Ang has been with the AIA Group for 21 years. He recently served as AIA China’s chief agency officer (CAO) as well as the general manager.
The new CEO has also “effectively led the agency transformation in Malaysia from 2015 to 2018,” the statement read.
“He has been supporting AIA Hong Kong, China and Vietnam, with a strong track record in driving and delivering business results, building scale in the premier agency force across the company,” Philam Life said in the statement.
“It’s my pleasure to take on this new assignment, and [I’m] grateful to AIA and Philam Life for the trust and opportunity,” Mr. Ang was quoted as saying in the statement. “As we move into 2019, you can expect that the company will remain true to its customer-centric thrust, and will live up to its promise of helping Filipinos live healthier, longer and better lives.”
Even as Mr. Cantos steps down from his CEO position, he will remain as Philam Life’s board member as well as the chairman of Philam Foundation. He will also act as Mr. Ang’s senior adviser until March 21, 2020.
“It has been a privilege to have served Philam Life during an important period of transformation. I now pass the baton to Kelvin, my successor, who will continue to deliver on our promise and commitment to our customers,” said Mr. Cantos.
The Philam Group is the biggest life insurer in the country. As of end-2017, Philam Life and its bancassurance affiliate BPI-Philam Life Assurance Co. posted a combined total premium income of P40.2 billion.
It is serving almost 600,000 individual policyholders. — K.A.N. Vidal