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AIA Philam Life launches investment fund targeting overseas stocks

AIA Philippine American Life and General Insurance Co. Inc. (Philam Life) said it launched Friday an investment fund geared towards overses stock markets.

The firm’s Elite Fund Portfolios Range invests in foreign markets with investment strategies tailored to clients’ risk appetite with the aid of group company AIA Investment Management Pte. Ltd. The strategies are classified as aggressive or adventurous, balanced, and conservative.

Philam Life said the fund will target industries such as technology, allowing investors to shift in and out of markets in various stages of growth across the world.

“By giving them more investment options, we are empowering them to achieve their long-term savings objective, thus bringing to life our brand purpose of helping Filipinos live healthier, longer and better lives,” AIA Philam Life Chief Investment Officer Arleen May S. Guevara said.

Separately, it said it has hit 67% of its target of 110,000 insured customers this year. While Philam Life said potential growth was dragged down by the pandemic, it plans to upgrade its digital channels to continue to deliver services during the pandemic.

“With our digitally enabled agency force, we are ready to continue addressing the protection needs of Filipinos, now at a faster rate. As we continue to adapt to the situation, this also means technology, digital and analytics will be at the center, becoming our enablers in the fulfillment of our mission,” AIA Philam Life Chief Executive Officer Kelvin Ang said.

“We remain confident of the opportunities ahead, with the low insurance penetration rate, and our strategy coupled with an increased awareness of health risks and the value of protection following the pandemic,” AIA Philam Life Chief Financial Officer Gary Ogilvie said.

The AIA Group serves 18 markets in the Asia-Pacific, including China, Hong Kong, Thailand, Singapore, Malaysia, Indonesia, Myanmar, Australia, and New Zealand. — Kathryn Kristina T. Jose

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