BPI AIA Life Assurance Corp. (BPI AIA), a joint venture between Bank of the Philippine Islands (BPI) and AIA Philippines, said it ranked first among Philippine bancassurance companies based on new business annualized premium equivalent (NBAPE) as of Dec. 31, 2024, citing Insurance Commission data.
The company also announced it received the World Finance award for Best Life Insurance Company in the Philippines for the seventh consecutive year.
BPI AIA said it ranked second in net income and fourth overall in the Philippine insurance market.
“We are incredibly proud to regain our position as the top-ranked bancassurance company in the Philippines and to receive this accolade yet again from World Finance,” said Karen Custodia, chief executive of BPI AIA.
“2024 was a year of both challenges and significant wins for the BPI AIA team,” Custodia said.
The company attributed its performance to the launch of three new products—Future Ready, Wealth Advantage and Aspire Premier—and its sales force.