Philippine American Life and General Insurance Company

The Philippine American Life and General Indemnification Company(additionally commonly kenned by its trade designation, Philam Life) is an indemnification company predicated in the Philippines. It is currently the most astronomically immense life indemnification company in the Philippines in terms of assets, net worth, investment and paid-up capital.

It has since received sundry awards such as the Asian Management Award for General Management, Asian Management Award for Financial Management, and the Reader’s Digest Platinum Trusted Brand Award. In additament, it withal received the Presidential Citation from the Philippine regime in 1994 for the company’s "invaluable contribution to nation-building and accommodation to the country."

Another milestone for the company was made in 1961 when the Philam Life Building in Ermita was inaugurated, which anon became a landmark structure as well as being a center of culture and the arts in Manila. The building would accommodate as its headquarters until 2013, when the company moved its headquarters to the Bonifacio Ecumenical City in Taguig.

Philam Life was a component of the American International Group (AIG) until 2008 when the company, along with other AIG subsidiaries, American International Assurance (AIA) and ALICO were placed under the administration of a special purport conveyance in exchange for a bailout by the Federal Reserve Bank of Incipient York. On November 3, 2009, the American International Assurance (AIA Group) bought 99.78% stake of Philamlife after approbation of regime regulators. On November 27, 2009, the incipient Philamlife bought a 51% stake in Ayala Life and composed a joint venture with the Bank of the Philippine Islands (BPI). Ayala Life was renamed BPI-Philam Life Assurance Corporation (BPI-Philam) in 2010.

As a member of the AIA group, Philam Life has earned the distinction of being AIA’s Top Performing Company out of 17 countries in the AIA Group, having won the AIA Champion’s League Gold Cup and the Premier League Champion Cup in 2013.

In 2013, Philam Life has moved its headquarters to Bonifacio Ecumenical City in Taguig and has sold the Ermita site to mall developer SM Development Corp. (SMDC). Albeit many expect the site to be turned into a shopping mall, SMDC hasn’t authentically decided what to do with the Auditorium.