MAKATI CITY, Philippines, March 7, 2025 – BPI AIA Life Assurance Corporation (BPI AIA), a strategic joint venture between Bank of the Philippine Islands and AIA Philippines, announced its achievement as the #1 bancassurance company in the Philippines based on New Business Annualized Premium Equivalent (NBAPE), according to the official data from the Insurance Commission as of December 31, 2024. This accomplishment coincides with BPI AIA receiving the prestigious World Finance Award for Best Life Insurance Company in the Philippines for the seventh consecutive year.

The company also ranked #2 in Net Income and #4 overall in the industry, further solidifying its position as a leading player 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 Officer of BPI AIA. "2024 was a year of both challenges and significant wins for the BPI AIA team. We navigated a highly competitive landscape and emerged stronger, driven by our unwavering purpose to build a better everyday life and future for all Filipinos."

BPI AIA's success in 2024 was fueled by several key factors. The company launched three innovative products—Future Ready, Wealth Advantage, and Aspire Premier—which resonated strongly with customers and significantly contributed to sales performance. BPI AIA's dedicated and highly trained sales force played a crucial role in reaching customers and providing tailored financial solutions.

Furthermore, BPI AIA strategically focused on enhancing its digital capabilities to provide seamless and convenient customer experiences, recognizing the increasing demand for accessible and user-friendly online platforms. The company also prioritized building strong relationships with BPI branches to effectively reach a wider customer base, leveraging the bank's extensive network to connect with more Filipinos and offer them tailored insurance solutions.

The World Finance award recognizes BPI AIA's consistent excellence in the life insurance sector, highlighting its commitment to innovation, customer service, and financial strength. The award considers various factors, including financial performance, product innovation, market leadership, and corporate governance.

Looking ahead, BPI AIA is positioned to continue its leadership in the life insurance industry, further advancing its customer-centric approach and leveraging technological innovations to create even more personalized and accessible solutions for Filipinos. With a steadfast commitment to excellence, BPI AIA aims to empower individuals and families across the Philippines to take control of their financial futures and achieve long-term security. As the company celebrates its continued success, it remains dedicated to fulfilling its mission of building a better everyday life for all Filipinos.

A key driver of BPI AIA's success has been its pioneering spirit in digital transformation. It has consistently led the industry in adopting digital solutions, from launching iPos, the first paperless insurance application system in 2013, to introducing eADA for streamlined premium payments, eKYC for remote customer onboarding, and eBiller and ePlan for enhanced customer experience. These advancements have made insurance more accessible and convenient for millions of Filipinos nationwide.

The partnership with BPI has been instrumental in extending this reach and impact even further, leveraging BPI's extensive network and customer base to provide financial protection to a wider segment of the Filipino population. BPI AIA's life insurance protection products complement the bank's various offerings, allowing customers to have a full financial portfolio for their needs.

BPI AIA has also demonstrated resilience and adaptability in the face of challenges. During the COVID-19 pandemic, the company swiftly pivoted to virtual operations, ensuring uninterrupted service to customers, providing free COVID-19 coverage to customers, and creating new jobs amidst the crisis.

In 2021, with the transformation of AIA Philam Life to AIA Philippines, BPI-Philam likewise evolved into BPI AIA, marking a significant milestone and ushering in further advancements, including the integration of MyData in BPI, which allows customers to experience a simpler and faster application process, and the launch of PamilyaProtect, a revolutionary microinsurance product which can be purchased via Facebook Messenger. These initiatives led to n BPI AIA being recognized as the World Finance Best Life Insurance Company in the Philippines. This commitment to providing innovative solutions is exemplified by the launch of BPI AIA Aspire, a peso-denominated participating life insurance plan offering double protection, guaranteed cash benefits, and savings potential to help Filipinos achieve their dreams.

"Over the past 15 years, BPI AIA has provided financial security to millions of Filipinos, laying a strong foundation for a secure future for generations to come," says BPI AIA Chief Executive Officer Karen Custodia. "We're committed to expanding financial literacy programs, developing new insurance products for underserved segments, and leveraging AI to personalize customer experiences."

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About BPI AIA 

AIA BPI AIA LIFE ASSURANCE CORPORATION is a strategic alliance between two leading companies in the country –Bank of the Philippine Islands (BPI) and AIA Philippines Life and General Insurance Company Inc. (AIA Philippines). BPI is a leading universal bank with over 170 years of experience in the local banking industry and an extensive branch network of more than 850 branches and 2,500 ATMs and CAMs. AIA Philippines is the premier life insurance company in the country and the market leader for over 70 years.

BPI AIA's professional and expertly trained Sales Executives are assigned in BPI branches nationwide or work remotely using digital tools to render financial advisory services that address customers' financial and protection needs.

With the combined expertise and resources of the two trusted companies, BPI AIA policyholders are assured that their insurance is backed by financial strength and stability.

To know more about us, visit our website. Like us on Facebook, follow LinkedIn, chat with us on Messenger and subscribe to our YouTube Channel. 

Trix Catly
Senior Media Relations Manager
Ogilvy Philippines
trix.catly@ogilvy.com