AIG Philippines eyes opportunities in construction sector

ABS-CBN News

Posted at Feb 08 2014 08:16 AM | Updated as of Feb 08 2014 04:16 PM

MANILA, Philippines - International insurance company AIG said it is ready to capitalize on the construction boom in the Philippines.

The construction sector is expected to continue its strong growth this year, especially with the reconstruction and rehabilitation efforts in areas badly affected by super typhoon "Yolanda."

"The ongoing expansion of the Philippines economy and growth in large-scale construction projects presents AIG with opportunities to expand its construction insurance portfolio in the Philippines, and offers the Philippines construction industry an opportunity to take advantage of AIG’s recently enhanced resources and capabilities in its construction and construction-industry product offerings," according to Daniel Abramson, AIG’s global head of construction.

AIG recently held a forum "Managing Risks in Cross-Border Construction" in Makati City. The forum highlighted how a well-designed insurance solution can address complex risks and challenges in 21st century construction projects.

AIG Philippines president and CEO Mark Lwin said, "We have tremendous depth of experience in construction, and other commercial endeavors, which help our clients manage, reduce, and avoid risks.

AIG provides infrastructure solutions backed by an experienced underwriting team and has 38 engineers focused on Asia Pacific and the Philippines.