AIA Philippines Life and General Insurance Company, Inc. (AIA Philippines), one of the country’s largest life insurance companies, and BPI AIA Life Assurance Corporation (BPI AIA), won the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards, a prestigious accolade recognizing exemplary corporate governance practices.
For AIA Philippines, this is the seventh consecutive year of being honored with a Golden Arrow Award, and for BPI AIA, the fifth straight year. Both companies received three-arrow recognitions.
The ACGS measures the performance of companies by the Philippine Code of Corporate Governance and internationally recommended corporate governance practices as espoused by the ACGS. The award covers areas such as the rights of shareholders, equitable treatment of shareholders, the role of shareholders in corporate governance, disclosure and transparency, and the responsibilities of the board. Companies that score at least 80 points in the ACGS Assessment are given the award.
“AIA Philippines and BPI AIA value its customers, employees, stakeholders, and shareholders, and upholding the highest standards of corporate governance is how we keep their trust,” said AIA Philippines President and Chief Executive Officer Melita Teo. “We would like to thank the Institute of Corporate Directors (ICD) for recognizing our efforts in corporate governance, which is intertwined with our commitment to providing world-class and exceptional service to our customers and creating long-term value for all our stakeholders.”
AIA Philippines’ and BPI AIA’s corporate governance framework encompasses governance and risk culture, social responsibility, and ethics. AIA Philippines’ Board of Directors is composed of qualified and excellent members who are responsible for the sustainable performance of the Company, which include compliance with statutory and corporate obligations.
