Philam Life Annual Report 2012

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CORPORATE SOCIAL RESPONSIBILITYPhilam PaaralanEstablished in 2011, Philam Paaralan is the flagshipprogram of Philam Foundation in partnership with theDepartment of Education. It aims to promote “HealthyEducation” through classroom building in underserved and/ or calamity stricken areas in the country.As an addition to the eight Philam Paaralan classroomsbuilt in 2011, another six classrooms were built in theMindanao area after it was hit by Typhoon Pablo. In 2012,Philam Paaralan was able to build and turn over a twostorey,four classroom building in Cagayan de Oro City and aone-storey, two classroom building in Iligan City.Philam Paaralan was also able to get sponsorship fromPhilam Life through the company’s P65 per policy soldcampaign wherein a total of P2.149 million was raised. Theprogram was also able to promote its cause in numerousevents, leading to several sponsorships from some companiesand individuals.KaAkbay Philam Volunteer CorpsThe KaAkbay Philam Volunteer Corps continued to grow in2012 with the total number of volunteers reaching 182 andtotal number of volunteer hours at 1,947 hours renderedthrough 14 volunteer activities.Brigada Eskwela is a program in partnership with theDepartment of Education’s Adopt-A-School Program whichaims to clean and refurbish public schools in time for thenew school year.In 2012, the KaAkbay program was able to simultaneouslylaunch Brigada Eskwela in Philam Offices in the NationalCapital Region, Cebu and Davao.Philam Centralized Assistance for Employees in Need(PhilamCAN) and Philam Centralized Aid for Agents(PCAFA)Philam Centralized Assistance for Employees in Need(PhilamCAN) marked its 5th campaign year in 2012 wherein90 employees were given financial assistance in the totalamount of P462,000.A total collection of P253, 346.95 was raised from PhilamLife employees which was matched by Philam Foundationmaking the total fund reach a total of P506,693.90.On the other hand, Philam Centralized Aid for Agents(PCAFA) was able to help out 23 agents and agency employeesin 2012 in the total amount of P128,000. A P3.3 millionadditional fund was received from Philam Life representingthe total Agency Welfare Fund. It will be included in thePCAFA and will be managed by Philam Foundation. TotalPhilam CAFA fund now stands at P3.5 million.The program continues to support and encourage PhilamGroup employees to join various advocacies through itsregular activities while exploring other volunteering activitieslike Brigada Eskwela.1 2 31) Philam Foundation Executive Director Max Ventura turns over a Philam Paaralan prototype to DepEd Assistant Secretary Reynaldo Laguda withPhilam Life President and CEO Mr. Mendoza; 2) Justo Lucban Elementary School students were among the beneficiaries of Philam Paaralan’s ‘Fit forSchool’ program to promote proper hygience to more than 500 students; 3) KaAkbay volunteer Vic Gatbonton participates in a tree planting activity withthe League of Corporate Foundation at Ipo Dam, Norzagaray, Bulacan.10
CORPORATE GOVERNANCEProfile of the DirectorsEdmund S.W. Tse (75)Non-Executive Chairman/DirectorMr. Tse is Non-Executive Chairman of AIA Group Limited,a leading pan-Asian life insurance organization with aunique heritage of serving the world’s most dynamic regionfor 90 years.An industry veteran, Mr. Tse began his career in theindustry when he joined AIA in Hong Kong in 1961. In1975, he was appointed President and Managing Directorof Nan Shan Life Insurance Company, Limited (Nan Shan),one of the top insurance companies in Taiwan ownedby American International Group, Inc. (AIG). He wasappointed Chairman of Nan Shan in 1990.In 1983, Mr. Tse was named President & CEO of AIA, and in2000 became Chairman and CEO of AIA. In 1996, Mr. Tsewas elected to the AIG Board of Directors and appointedAIG Vice Chairman in 1997. He was elected AIG Senior ViceChairman in 2001, and served as AIG Co-Chief OperatingOfficer from 2002 to 2003. Following his retirement asChairman and CEO of AIA in June 2009, Mr. Tse served asthe Honorary Chairman of the company until December2010. Mr. Tse is also the Non-Executive Chairman of ThePhilippine American Life & General Insurance Company.In recognition of his outstanding efforts to thedevelopment of Hong Kong’s insurance industry, Mr.Tse was awarded the Gold Bauhinia Star (GBS) by theGovernment of the Hong Kong Special AdministrativeRegion (HKSAR) in 2001. The University of Hong Kongconferred on Mr. Tse an Honorary Fellowship in 1998, andan Honorary Degree of Doctor of Social Sciences in 2002.In 2003, Mr. Tse was elected to the Insurance Hall of Fame,the most prestigious award in the insurance industry. Hewas the first and so far the only Chinese to receive thisprestigious award.A keen supporter of philanthropic and educationalactivities, Mr. Tse serves many community and professionalorganizations as well as educational institutions. Theseinclude the Asia Society Hong Kong Center AdvisoryCouncil, the Business and Professionals Federation of HongKong, the Advisory Board for B.Sc. (Actuarial Science)Program of the Department of Statistics and ActuarialScience, the University of Hong Kong, the Board of Trusteesand the Board of Education Development Foundationof Fudan University, and the China Overseas FriendshipAssociation. He is also President of the AIA Foundation,which supports charitable causes in Hong Kong.Ambassador Jose L. Cuisia, Jr. (68)Non-Executive Vice- Chairman/DirectorAmbassador Cuisia, who is currently the Vice-Chairmanof Philam Life, recently took his new diplomatic post lastMarch 1, 2011. He is also the Chairman of the Board forThe Covenant Car Company, Inc. (TCI).The Ambassador isalso the Vice-Chairman of the Board of SM Prime Holdings(SMPHI). He also holds directorate in BPI-Philam LifeAssurance Co. (BPLAC).Before becoming Philam Life’s President and CEO for 16years, Ambassador Cuisia served the Philippine Governmentas Governor of the Philippine Central Bank and Chairman ofits Monetary Board from 1990-1993. He was also appointedCommissioner, representative of the Employer’s Group, forthe Social Security System (SSS) in September 2010. TheAmbassador was also Governor for the Philippines to theInternational Monetary Fund (IMF) and Alternate Governorto the World Bank. Prior to service in the Central Bank, hewas also Administrator and CEO of the Philippine SocialSecurity System from 1986- 1990.The Ambassador is active in educational institutions, beingthe CV Starr Chairman of Corporate Governance for theAsian Institute of Management (AIM) and also being theConvenor-Trustee of the Philippine Business for Education(PBEd). Previously, he was also Chairman of the Board ofTrustees/Board of Governors of AIM, a former Trustee ofthe University of Asia & the Pacific (UA&P), as well as theformer Chairman of De La Salle University (DLSU) Board ofTrustees.Rex Ma. A. Mendoza (50)Executive Director/President & CEOMr. Mendoza is the President and CEO of The PhilippineAmerican Life and General Insurance Co. (Philam Life). Heholds various positions within the Philam Group such as:Vice Chairman of BPI-Philam Life Assurance Corporation(BPLAC), Chairman of the Philam Insurance Agency & CallCenter Services, Inc. (PIACCSI), Chairman of the PhilamEquitable Life Assurance Company, Inc. (PELAC), Chairmanof the Philam Foundation, Inc. and Director of The TowerClub, Inc.Previous to his current position, Mr. Mendoza was SeniorVice-President and Head of Corporate Marketing andSales Group of Ayala Land, Inc. He was a member of theManagement Committee of Ayala Land, Inc. and the11
Page 1 and 2: 2012 Philam Life Performance Report
Page 3 and 4: “The year 2012 was a year of tran
Page 5 and 6: Operating PhilosophyThe AIA Operati
Page 7 and 8: established in July 2011, reports d
Page 9: AFFILIATES & SUBSIDIARIESBPI Philam
Page 13 and 14: Cesar A. Buenaventura, O.B.E. (83)I
Page 15 and 16: Ricardo J. Romulo (80)Non-Executive
Page 17: REPORT OF THE DIRECTORSThe Board of
Page 20 and 21: PHILAM LIFE SENIOR MANAGEMENTStandi
Page 22 and 23: FINANCIAL STATEMENTSREVENUE2012 201
Page 24: About Philam LifeThe Philippine Ame

Philam Life Annual Report 2012

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