May 3, 2017 marked the 85th Anniversary of AIG in the Philippines. This milestone is not only about our history, but a celebration of the larger industry and its importance for building resilience in, and for, the Philippines.
When American International Underwriters, the precursor of AIG Philippines Insurance today, was set up in the Philippines in 1932, our focus then was exclusively on Property and Casualty insurance. AIG’s mission has been to protect individuals and communities from fear of the future, and to provide a foundation for economic growth and prosperity in a world of changing and ever more complex risks. Over the years, we have pursued this mission through a variety of brands, products, and insurance lines, but the core mission has remained the same.
Over the years, we have been a proud partner in the Philippines’ story of growth through adversity, and we have endeavored to contribute our part in this story by shielding Filipinos, their companies, and their communities from threats in many forms.
Looking back on 1932, there was nothing inevitable about the outcome or that AIG would grow to be one of the leading and most-respected insurers in the nation. Our legacy has prospered because of:
• the strategic choices made to focus on where AIG could best bring value to our clients
• the unrivalled talent and capability of AIG’s people and the insights they bring to the industry
• most of all, the dedication and commitment of AIG employees who live our promise every day
In the recent year, AIG has aggressively returned to our roots of 1932 – a relentless and disciplined focus on Commercial insurance, and where AIG’s expertise, capacity, and innovative products are unique. Today, AIG provides our core services and insurance lines to a in a multitude of market segments and industries. But we’re also focused on the commercial business needs of the Philippines’ fastest-growing industries and their unique or customized needs. BPO, Hospitality and Tourism, Financial Institutions, Healthcare, Telecommunications, Energy, and Infrastructure are a few of the keystone Filipino industries that AIG serves with customized and tailored insurance solutions.
AIG is different today than we were in the beginning. Indeed, we have evolved each decade as needs of industry changed, and as we have challenged ourselves to be an innovator and to take risks, even as we protect others from risk. Only by continually doing so can we lay claim to becoming our clients’ most valued insurer. So, we inaugurate this celebration of the past 85 years, but really we welcome the opportunity to look to the future and envision the next 85 years of AIG in the Philippines.
Bring on tomorrow!
In line with the expansion program of the American Asiatic Underwriters (AAU) in growing territories, the American International Underwriters for the Philippines Inc., a subsidiary company of the AAU, has been formed in Manila to handle the growing interests of the AAU in the Philippine territory. Two decades prior, it has been reported that practically all of the insurance business in the islands were handled by European companies or Commercial houses which established Insurance departments primarily for the purpose of handling their own insurance but which later developed outside insurance as well.
C.V. Starr meets with President Ramon Magsaysay during a breakfast conference at Malacanang Palace in 1954.
AIG Founder C.V. Starr aboard a Philippine Airlines Flight as AIU Board Chariman Felino Neri and his wife greets him at the tarmac.
Cornelius Vander Starr established American Asiatic Underwriters (AAU), a general insurance company in Shanghai, China. During his leadership, he said, "We have had a very full measure of hard work, loyalty, and enthusiasm from our people. This spirit, which particularly marks our organization, is more valuable than any asset on our books."
Filemon G. Samiley, was awarded first prize in a companywide contest in the 1970s. Sam was a Sales Promotion Assistant in Philamlife’s sales training department. He holds a Bachelor of Science in Fine Arts degree in Advertising from the University of the Philippines.
The winning concept created by Filemon G. "Sam" Samiley. This corporate symbol achieves a dynamic visual balance literal and abstract representation of AIG's initials, projecting its integrity and progressive character. The letters "I" and "G" emphasize the strong relationship between international operations and group philosophy. The dark and light areas of the spherical shape surrounding the "G" are symbolic of the world in its natural state of day and night.
AIG is committed to making a positive difference in the communities where we work, live, and serve our customers. To create consistency and make a more collective impact on these communities, AIG has aligned its charitable giving around three philanthropic themes:
“AIG in the Philippines plays a key role in our vision and mission of reducing fear of the future and empowering our clients through our risk expertise and financial strength. Through our collective Insurance, Shared Services, and Technology Services businesses, AIG touches the hearts of so many people – externally or internally – and at the time they need us the most.”
– Claudia Salem, Chief Executive Officer of AIG Singapore, and Head of Country Operations, Southeast Asia
"AIG has built our reputation as true risk experts, and the ability to grow and deepen this expertise as the environment and our business partner needs evolve. This is even more of an imperative today, with technology and disruptive innovation changing the business world at an unprecedented pace. Just as AIG was positioned as a first-mover to bring insight and new insurance solutions to the marketplace in the past, we have continued to invest in the same capability for the future. We can't do that unless we understand our clients, the specific business models which they work in, and how global risk trends intersect with their unique needs. This is the power of innovation behind AIG."
- Mark Lwin, President and CEO of AIG Philippines Insurance, Inc. and AIG Shared Services – Business Processing, Inc.
“Innovation and continuous improvement are the keys to the future of our ever-evolving world. We are building a culture of innovation within AIG where we realize value by developing and commercializing new ideas. Great ideas can come from anywhere, more often from a place we least expect it. Our focus on constant development in our people’s technical and soft skills helps drive their capability to think differently, challenging existing systems and willingly collaborating to bring small changes in our daily lives. Innovation is often not about big ideas but just materializing these small changes. We will continue in this journey of constant change with the vision of being the IT Delivery Center of choice for all AIG businesses by consistently delivering high quality output at a reasonable price.”
- Pradeep Bhanotha, CEO of AIG Shared Services Corporation (Philippines) IT and Global Head of Applications Development Management Services, Technology Services
“AIG values the diversity of our employees’ backgrounds and thinking styles, and uses these attributes to build high quality teams of Global Professionals, from a local talent market. With our focus in areas of IT innovation, automation and a collaborative international working style, we ensure that our greater understanding of our internal and external customer needs is matched to our delivery of first class solutions, reducing business risk and supporting portfolio growth.”
– Andrew Gascoigne, Senior Vice President and Head of Technology Services – Philippines