Philamlife and BPI to form bancassurance joint venture

Philippine American Life and General Insurance Company is to acquire a 51% stake in Ayala Life Assurance, the life insurance subsidiary of Bank of the Philippine Islands.

Philippine American Life and General Insurance Company Philamlife is acquiring a 51% stake in Ayala Life Assurance, the life insurance subsidiary of Bank of the Philippine Islands BPI, for an undisclosed amount. The acquisition will pave the way for a bancassurance joint venture between Philamlife, the Philippines' largest life insurance firm in terms of assets, and BPI. The joint venture is subject to regulatory approvals.

Ayala Life is the seventh largest life insurance company...

To continue reading, please login or register for free

Click for more on: philamlife | bpi | ayala life

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...