PhilamLife Insurance is for Sale?

PhilamLife

Philstar reports today of “insurance giant” AIG’s plan to let go of some of their assets so they could come up with enough money to “repay its $85-billion bailout loan from the Federal Reserve Bank of New York”.

And yes, one of these assets is the PhilamLife (Philippine American Life and General Insurance Co.). It’s sad, cause for one, I have a policy there at PhilamLife, although it’s now dormant cause I decided to discontinue it when I read a report about a rally there in one Pinoy message board (my computer memory says you could read it at entrepreneur.com.ph/board/index.php?topic=38787.0… hehe).

Though Philam assures their clients that things are okay on their part, it’s still both sad and frightening to know that such a big insurance company (170 billion pesosesos worth) is a bit unsteady nowadays.

Oh, I pray that this is just a phase… a lot of Pinoys would be affected, if ever.

Hopefully, something good will come out of this.

Rate this:

3.2