Philam Life to double Mindanao workforce

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Friday, April 4, 2014

PHILAM Life, a subsidiary of the AIA Group Company, will be doubling the number of its financial advisers in Davao City this year as part of its expansion plans on the island, an executive said.

Philam senior vice president and head of marketing Jessica C. Abaya told reporters during a media roundtable discussion at Marco Polo Hotel Davao that as part of their goal to become the leading life insurance company in Davao, they will be hiring more financial advisers.

"We are eyeing to double our force by the end of the year," she said.


At present, Philam has around 400 to 500 financial advisers in the Davao Region, the biggest of the 1,337 financial advisers in Mindanao.

Rolan H. Enriquez, vice president and director of agencies in Central East Visayas and Mindanao, said doubling their workforce is part of the company's efforts to deliver its services to more Dabawenyos.

One of its strategies is the Business Opportunity Program where they invite people who seek to become financial advisers or choose the profession as a career path.

Abaya said their anticipation in Davao City' life insurance is high because of the booming economy.

"More people are getting employed now and we believe that as soon as they start earning income, our task is to ensure that their income is properly managed," Enriquez said.

Enriquez said Davao is one of the fastest growing regions in terms of amount of premiums invested in Philam.

As of December 2012, Philam netted P150.7 billion in total assets, based on the Insurance Commission Rankings.

Also in 2012, Philam has a net income of P3.3 billion and net investment income of P11.8 billion.

Its current products are Family Secure, Family Provider, Health Invest, Moneyworks, Money Tree, and Bright Future Invest.

Published in the Sun.Star Davao newspaper on April 05, 2014.


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