His accomplishments in the industry earned him 2007's Management Man of the Year.
Mr. Cuisia's speech to the Third Floor as he makes his final rounds.
Thanks to Tata for my picture with Mr. Cuisia. :)
Showing posts with label Philamlife. Show all posts
Showing posts with label Philamlife. Show all posts
Saturday, August 08, 2009
Cheers to the Living Legend
Ms. Jose L. Cuisia Jr. has retired from Philamlife last month, in view of his 65th birthday. In his 16 years of service to Philamlife, he has consistently made the company the number 1 life insurer in the Philippines. This lead to Philamlife's continuous growth and stability, even despite what happened to its mother company. Now, it continues to grow and lead the industry for more than 60 years now.
His accomplishments in the industry earned him 2007's Management Man of the Year.
Mr. Cuisia's speech to the Third Floor as he makes his final rounds.
Cheers to the company's Captain, General, Head Coach. Happy Retirement! :)
Thanks to Tata for my picture with Mr. Cuisia. :)
His accomplishments in the industry earned him 2007's Management Man of the Year.
Mr. Cuisia's speech to the Third Floor as he makes his final rounds.Thanks to Tata for my picture with Mr. Cuisia. :)
Tuesday, October 28, 2008
PHILAMLIFE: A PRIZED ASSET
Written for an internal newsletter, October 27, 2008.
It is very difficult to talk with clients who have been victims themselves of the past pre-need fiasco. Given their past experience in some pre-need institutions, they now have their conclusion that Philam will end up with the same situation. Many thanks to some news media who helped aggravate the growing misconception of clients, that task to convince them that we will not end up the same as the other defunct pre-need companies became much more difficult.
In order to properly address a policyholder’s concern, one must look through the policyholder’s eyes. Being a Philam policyholder myself, I had my own share of questions and made it as a guide to properly explain the situation to policyholders. The bottom-line of all these is the question, “What will happen to my money if something happens to Philamlife?” That was precisely the main thought of most of the people I talked with during my stint in the conservation team. I was stationed at Cubao RO, where I saw lots of people flocking the business center to either take out a loan, or surrender, primarily because of the news that Philamlife is for sale. I was part of a team composed of people from Philam Call Center, OFW Marketing, and Customer and Area Marketing Office.
I was able to convince a couple who wished to surrender their Pension Builder policy.
The conversation started out with both of them very much angry with the most recent news about AIG divestment and Philamlife’s “for sale” status. Their ire got even worse when they saw in the news that owners of the infamous pre-need company are planning to buy Philamlife.
I started my two-cents worth with a bit of history about the pre-need fiasco. I told them the fact that since most pre-need companies sold educational plans that were open-ended, they found it very hard to keep up with the rising tuition fees. This, coupled with laws that deregulated tuition fee increases, developed problems for pre-need companies in terms of liquidity.
I told them that Philamlife, being a leader in the life insurance industry, has no similar problem. I boasted our strong asset figures of more than P170 billion as of December 2007. Aside from this, I explained the concept of liquidity reserves, which we have accumulated to at least P76 billion. I told them that Philamlife is not closing down, but is simply being sold. The change in ownership will not affect their policies since whoever the new owner will be, the company is bound to fulfill all contractual obligations to the policyholders. The Insurance Commission has very stringent regulations to make sure that the company will honor its commitment to give the policy benefits due each Philamlife client.
To convince them further, I reassured that Philamlife is being sold not because it is going bankrupt—but rather we are considered as one of AIG’s prized assets which makes our company very attractive for prospective buyers. I added a few facts about our parent company, AIG’s current situation and the reasons why we are being sold. I strongly stated that we are not being sold because we are bankrupt, but because we are one of their strongest assets.
Then, the man asked me, “What happens if all of them withdraw?” I answered, “Then we shall give them their cash surrender values. As I have previously said, the IC attests to the fact that we can pay for all present benefits due.
The couple then added a few more minor questions on my employment status and our current situation in the company. After that, the couple’s frowns turned into nods and smiles, indications that they were somehow assured that Philamlife is not going bankrupt, but simply changing its ownership. The husband then gave me a pat on the back and jokingly said, “Okay, we believe you. Make sure you don’t close down okay?”
And I jokingly replied, “I wouldn’t be here in front of you if we are going bankrupt. I’d better be off in the streets looking for a new job.” Then we separated with smiles on our faces.
Monday, October 06, 2008
On Philamlife
Philamlife is not closing down. It's just being sold. AIG thinks that Philamlife is a good asset so they sell. It's like a big ship with a replacement Captain. Everything's gonna be just fine.
I try to avoid entries about my company, but I feel that it's about time that I somewhat contribute to spreading the word about Philamlife's situation. For Philamlife employees and agents, it is business as usual. Philamlife remained market leaders for the past 60 years, they're still market leaders now, and will be market leaders even after the sale. The employee force is strong, the agency force is diverse, the market base is deep. Just like what Mr. Cuisia has mentioned, the winning bidder will definitely be an instant market leader in the insurance industry.
----------------------------
10 groups keen on Philamlife
By Ted P. Torres
Tuesday, October 7, 2008
www.philstar.com
The Philippine American Life Insurance Co. (Philamlife) said yesteday it has received offers from about 10 groups after the firm was identified as among the assets to be sold by American International Group (AIG) to pay off its debts.
At the same time, the company sought to dispel concerns that the sale of the country’s largest insurer would affect its ability to pay claims.
Offers to buy Philamlife, the country’s biggest insurer, have come in from both local and foreign firms, some of which were private equity funds, Jose Cuisia, company chief executive told reporters.
“Closer to 10,” Cuisia said when asked about the number of interested buyers. He said he was not aware if there were others who had separately approached AIG’s advisers Blackstone Group LP and J.P. Morgan Chase & Co with an offer.
“I would say these are very respectable groups, also successful groups, which is why it is very encouraging for us,” he said.
But some of the interested buyers were unlikely to meet AIG’s criteria, Cuisia said, adding a strong reputable brand name, financial strength, and a strategic fit were the three key ingredients the US parent required for a successful sale.
“Some will immediately be crossed out,” Cuisia said.
A few of the buyers expressed interest to acquire AIG PhilAm Savings Bank alone while most were keen on buying the whole group, Cuisia said.
The Philamlife Group, the Philippines’ largest insurer, has an asset base of P170 billion and consolidated stockholders equity of P49.5 billion, policies-in-force worth P143 billion, and a work force of over 1,500.
Going by the AIG’s criteria, mega conglomerates like the San Miguel group, and the Ayala Group, are among a few local groups that are in a position to make an acceptable offer.
The San Miguel group has the money and an infrastructure for a financial arm, but not the expertise while the Ayala group has both the money and the expertise. The Ayala group has Ayala Life Assurance Corp., ranked in the top 10 players in the life sector, and BPI/MS, one of the biggest non-life firms in the country.
Valuation is likely to be a crucial issue. The question is how much a premium to add considering the fact that Philamlife has been the leader in the life insurance industry for almost six decades now.
“Whoever buys Philamlife automatically becomes the leader in the Philippines, what greater premium is that?” industry experts said.
Philamlife has over one million policyholders or roughly one third of all the life insurance policyholders in the Philippines. It has a sales force of over 8,000 against a little over 2,000 for its nearest competitors.
Cuisia said he does not know if the sale will be as a block or by company.
So far, he said several local banks have approached him for AIG Philam Savings Bank. Philamlife holds a 45-percent equity in the bank, while AIG holds another 45 percent. The remaining 10 percent is held by the Philamlife Employees Retirement Fund.
Based on 2007 data from the Insurance Commission, the other members of the top 10 life insurers in the Philippines in terms of assets are Sun Life of Canada (Philippines), Insular Life Assurance Co., AXA Philippines, Manufacturers Life Insurance (Manulife), Ayala Life, Pru Life Insurance of UK, Great Pacific Life Assurance (Grepalife), Generali Pilipinas Life Assurance, and Pioneer Life.
SunLife of Canada is affiliated with Sunlife Financial of Canada, Insular Life is a domestic mutual company, AXA is affiliated with AXA of France and reportedly among the biggest in Europe, Manulife is affiliated with Manulife Financial said to be among the biggest in Canada and the US, Ayala Life is of course an affiliate of the Ayala Group, Grepalife is a member of the Yuchengco group, Generali Pilipinas is affiliated with Generali Spa of Italy, and Pioneer Life has connections with Allianz of Germany.
Experts say that whoever bids for Philamlife and subsidiaries must be ready to commit huge, long-term capital.
“But they will be rewarded with a true-jewel of Philippine financial institutions, and the top slot overnight,” they added.
According to Cuisia, the company remains “strongly capitalised” and would be able to meet all its commitments to depositors, investors and policy holders.
He said most of Philamlife’s investments were tied to government securities and bonds, and that the firm did not have any offshore exposure to troubled American financial institutions.
“We would like to assure our policy holders there is no reason for them to worry, to feel their investments are at risk,” he said.
“We have managed our investment portfolio prudently and conservatively.”
Philamlife deputy president and chief operating officer Michel Khalaf said the company has for decades remained a “net contributor” to AIG.
While the company will seek to retain all its employees, he said there could be some “rationalisation” if a buy-out led to duplication of jobs.
I try to avoid entries about my company, but I feel that it's about time that I somewhat contribute to spreading the word about Philamlife's situation. For Philamlife employees and agents, it is business as usual. Philamlife remained market leaders for the past 60 years, they're still market leaders now, and will be market leaders even after the sale. The employee force is strong, the agency force is diverse, the market base is deep. Just like what Mr. Cuisia has mentioned, the winning bidder will definitely be an instant market leader in the insurance industry.
----------------------------
10 groups keen on Philamlife
By Ted P. Torres
Tuesday, October 7, 2008
www.philstar.com
The Philippine American Life Insurance Co. (Philamlife) said yesteday it has received offers from about 10 groups after the firm was identified as among the assets to be sold by American International Group (AIG) to pay off its debts.
At the same time, the company sought to dispel concerns that the sale of the country’s largest insurer would affect its ability to pay claims.
Offers to buy Philamlife, the country’s biggest insurer, have come in from both local and foreign firms, some of which were private equity funds, Jose Cuisia, company chief executive told reporters.
“Closer to 10,” Cuisia said when asked about the number of interested buyers. He said he was not aware if there were others who had separately approached AIG’s advisers Blackstone Group LP and J.P. Morgan Chase & Co with an offer.
“I would say these are very respectable groups, also successful groups, which is why it is very encouraging for us,” he said.
But some of the interested buyers were unlikely to meet AIG’s criteria, Cuisia said, adding a strong reputable brand name, financial strength, and a strategic fit were the three key ingredients the US parent required for a successful sale.
“Some will immediately be crossed out,” Cuisia said.
A few of the buyers expressed interest to acquire AIG PhilAm Savings Bank alone while most were keen on buying the whole group, Cuisia said.
The Philamlife Group, the Philippines’ largest insurer, has an asset base of P170 billion and consolidated stockholders equity of P49.5 billion, policies-in-force worth P143 billion, and a work force of over 1,500.
Going by the AIG’s criteria, mega conglomerates like the San Miguel group, and the Ayala Group, are among a few local groups that are in a position to make an acceptable offer.
The San Miguel group has the money and an infrastructure for a financial arm, but not the expertise while the Ayala group has both the money and the expertise. The Ayala group has Ayala Life Assurance Corp., ranked in the top 10 players in the life sector, and BPI/MS, one of the biggest non-life firms in the country.
Valuation is likely to be a crucial issue. The question is how much a premium to add considering the fact that Philamlife has been the leader in the life insurance industry for almost six decades now.
“Whoever buys Philamlife automatically becomes the leader in the Philippines, what greater premium is that?” industry experts said.
Philamlife has over one million policyholders or roughly one third of all the life insurance policyholders in the Philippines. It has a sales force of over 8,000 against a little over 2,000 for its nearest competitors.
Cuisia said he does not know if the sale will be as a block or by company.
So far, he said several local banks have approached him for AIG Philam Savings Bank. Philamlife holds a 45-percent equity in the bank, while AIG holds another 45 percent. The remaining 10 percent is held by the Philamlife Employees Retirement Fund.
Based on 2007 data from the Insurance Commission, the other members of the top 10 life insurers in the Philippines in terms of assets are Sun Life of Canada (Philippines), Insular Life Assurance Co., AXA Philippines, Manufacturers Life Insurance (Manulife), Ayala Life, Pru Life Insurance of UK, Great Pacific Life Assurance (Grepalife), Generali Pilipinas Life Assurance, and Pioneer Life.
SunLife of Canada is affiliated with Sunlife Financial of Canada, Insular Life is a domestic mutual company, AXA is affiliated with AXA of France and reportedly among the biggest in Europe, Manulife is affiliated with Manulife Financial said to be among the biggest in Canada and the US, Ayala Life is of course an affiliate of the Ayala Group, Grepalife is a member of the Yuchengco group, Generali Pilipinas is affiliated with Generali Spa of Italy, and Pioneer Life has connections with Allianz of Germany.
Experts say that whoever bids for Philamlife and subsidiaries must be ready to commit huge, long-term capital.
“But they will be rewarded with a true-jewel of Philippine financial institutions, and the top slot overnight,” they added.
According to Cuisia, the company remains “strongly capitalised” and would be able to meet all its commitments to depositors, investors and policy holders.
He said most of Philamlife’s investments were tied to government securities and bonds, and that the firm did not have any offshore exposure to troubled American financial institutions.
“We would like to assure our policy holders there is no reason for them to worry, to feel their investments are at risk,” he said.
“We have managed our investment portfolio prudently and conservatively.”
Philamlife deputy president and chief operating officer Michel Khalaf said the company has for decades remained a “net contributor” to AIG.
While the company will seek to retain all its employees, he said there could be some “rationalisation” if a buy-out led to duplication of jobs.
Thursday, August 07, 2008
AIG Winning Edge: Out Now!
People say that August 8, 2008 will be a lucky day for investors. Why not invest your money now?!
Presenting: AIG WINNING EDGE!
Major Benefits of this product include:
Principal Protection
Protects your principal by giving you at least 100% of your initial investment at maturity
Life, Accident, & Health Insurance
Provides guaranteed life insurance protection and additional benefits in case of accidental death, disablement and/or dismemberment
International Market Participation
Provides access to worldwide markets as it allows you to participate in the potential upswing of emerging markets securities from more than 20 countries!
Fixed Term of 5 years!
Selling period is from August 8, 2008 (08/08/08) to September 9, 2008 (9/9/8).
Contact your trusted Philamlife Agent today!
PhilamlifeTel. (02) 528-5028
Website: www.ephilam.com
Presenting: AIG WINNING EDGE!
I am proud to announce the launch of the Third Offering of AIG Winning Edge, the country's first principal-protected variable life insurance!
Major Benefits of this product include:
Principal Protection
Protects your principal by giving you at least 100% of your initial investment at maturity
Life, Accident, & Health Insurance
Provides guaranteed life insurance protection and additional benefits in case of accidental death, disablement and/or dismemberment
International Market Participation
Provides access to worldwide markets as it allows you to participate in the potential upswing of emerging markets securities from more than 20 countries!
Fixed Term of 5 years!
Selling period is from August 8, 2008 (08/08/08) to September 9, 2008 (9/9/8).
Contact your trusted Philamlife Agent today!
PhilamlifeTel. (02) 528-5028
Website: www.ephilam.com
Tuesday, December 11, 2007
Wednesday, January 31, 2007
Patalastas Muna
Sa wakas, nadiskubre na rin ng aking kumpanya na puwede pala akong maging endorser ng produkto... Kaya sa inyong mga wala pang insurance ngunit walang pambili dahil sa tingin niyo ay mahal ito, Narito na ang solusyon sa inyong mga pangangailangan.
Narito na ang Aksitext.
Narito na ang Aksitext.
Sa halagang sampung piso lang, insured ka na ng P10,000.
Mabibili sa inyong suking tindahan.
Interesado sa 'kin bilang endorser ng produkto niyo? Wag mag-atubiling magkomento dito...
Friday, January 05, 2007
Arabian Christmas
It was a fun Christmas party despite not having won a single centavo during the raffle... Special thanks to Ms. Regine Tolentino for bringing more life to the party through her dancing and hosting expertise.
Theme of the party was "Arabian Nights." Thanks to Dabi (a friendly Maranao seller) and her merchandise, namely, the Sahal (The red checkered sheet) and Makuta (the black rings on the head), I was able to aptly gear up for the Philam Arabian Ball.
Not the Prince of Saudi...
The Princes of Persia with Darth Sidius
Wasn't able to upload the gypsies and the belly dancers... Maybe next time. :)
Theme of the party was "Arabian Nights." Thanks to Dabi (a friendly Maranao seller) and her merchandise, namely, the Sahal (The red checkered sheet) and Makuta (the black rings on the head), I was able to aptly gear up for the Philam Arabian Ball.
Not the Prince of Saudi...
The Princes of Persia with Darth Sidius
Wasn't able to upload the gypsies and the belly dancers... Maybe next time. :)
Monday, November 27, 2006
Knee injury - Out for season
It was a career-threatening injury for me (as if I have a basketball career!) last week when I took a bad fall during one of our semi-final games in the PBA (Philamlife Basketball Association).
It was the second quarter of semi-final game 1 vs. the Red Team. Oh, by the way, we were the green team. Although it pains to don the jersey color of Ateneo's Arch-rival, I somehow got used to it and found it quite amusing. :) We were teailing by ten points in the second quarter so I got a little excited and added a little more intensity in my game. I was not really used to saving balls a la Dennis Rodman, but this time, I did. Unfortunately, when I twisted my body to save prevent the ball from going out of bounds, my knee wasn't able to support the 204-pound physique, causing a bad fall. After that, I think everything went pitch black and I just found myself grimacing in pain, trying to keep myself from crying. It was quite a bad twist. I thought my basketball days were over...
I was carried to the sidelines since I could no longer put more weight on my badly injured left knee. Luckily, I realized it was that bad after all, since I could move my leg up and down. That means it was not fractured. A few minutes later I was able to walk, though limping. That means it was not a patella injury. I quickly packed my things and left the gym to Bubbles' house to get my knee iced (to prevent swelling and inflammation). Thank God for their ice stock, I was able to ice my knee immediately. After that I went straight home to get it iced again. And that evening was one of the most frightening evenings in my basketball injury history...
Well a week after that dreadful incident, I am already able to walk straight ( a little limping at times), thanks to the ice, Omega painkiller and Alaxan Gel, bandages, and tons of prayer... I just hope the injury heals completely soon.
By the way, we lost in that game. Luckily, we were twice to beat so we had a second chance yesterday, and fortunately, we are going to the finals on December 8!!! Hopefully I could come back to playing 100% on that day...
It was the second quarter of semi-final game 1 vs. the Red Team. Oh, by the way, we were the green team. Although it pains to don the jersey color of Ateneo's Arch-rival, I somehow got used to it and found it quite amusing. :) We were teailing by ten points in the second quarter so I got a little excited and added a little more intensity in my game. I was not really used to saving balls a la Dennis Rodman, but this time, I did. Unfortunately, when I twisted my body to save prevent the ball from going out of bounds, my knee wasn't able to support the 204-pound physique, causing a bad fall. After that, I think everything went pitch black and I just found myself grimacing in pain, trying to keep myself from crying. It was quite a bad twist. I thought my basketball days were over...
I was carried to the sidelines since I could no longer put more weight on my badly injured left knee. Luckily, I realized it was that bad after all, since I could move my leg up and down. That means it was not fractured. A few minutes later I was able to walk, though limping. That means it was not a patella injury. I quickly packed my things and left the gym to Bubbles' house to get my knee iced (to prevent swelling and inflammation). Thank God for their ice stock, I was able to ice my knee immediately. After that I went straight home to get it iced again. And that evening was one of the most frightening evenings in my basketball injury history...
Well a week after that dreadful incident, I am already able to walk straight ( a little limping at times), thanks to the ice, Omega painkiller and Alaxan Gel, bandages, and tons of prayer... I just hope the injury heals completely soon.
By the way, we lost in that game. Luckily, we were twice to beat so we had a second chance yesterday, and fortunately, we are going to the finals on December 8!!! Hopefully I could come back to playing 100% on that day...
Thursday, December 01, 2005
Red Team then, Red Team Now...
In our recently-concluded basketball tournament, we members of the Red Team (Sales, Marketing and Training Departments) have prevailed. After being the fourth of foour teams, we managed to come back in the semi-finals, defeating the team with the twice-to-beat advantage, and also beating the team rooting for a back-to-back championship! Kudos to the Red Team!
Looking back in 2003 when I first entered PMS, our Red Team also made it to the championship and prevailed. Special thanks to the powerhouse cast composed of Pabs, Do, Ogie, Wally, Norms, Ches, Jake, and myself, the PMS Red Team Stallions. We named our team as such because in triumph and pain, we celebrate with our dear old friend, Red Horse Stallion... I miss our binge-drinking sessions... Kudos to the Stallions...
Looking back in 2003 when I first entered PMS, our Red Team also made it to the championship and prevailed. Special thanks to the powerhouse cast composed of Pabs, Do, Ogie, Wally, Norms, Ches, Jake, and myself, the PMS Red Team Stallions. We named our team as such because in triumph and pain, we celebrate with our dear old friend, Red Horse Stallion... I miss our binge-drinking sessions... Kudos to the Stallions...
By the way, we were also the PMS champions in 2004, special thanks to our reinforcements, Walter and Restie...
Looking forward to next year's Tournament... BACK TO BACK, SMarT!!!
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