C08949-2019

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Dec 19, 2019
2. SEC Identification Number
CEO2536
3. BIR Tax Identification No.
003-828-269-V
4. Exact name of issuer as specified in its charter
ABOITIZ EQUITY VENTURES INC.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
32nd Street, Bonifacio Global City, Taguig City, Metro Manila, Philippines Postal Code 1634
8. Issuer's telephone number, including area code
02) 8 886-2800
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stock P1 Par Value 5,632,792,557
Amount of Debt Outstanding (September 30, 2019) 308,529,580,608
11. Indicate the item numbers reported herein
9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Aboitiz Equity Ventures, Inc.AEV

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Singlife and Aboitiz partner to disrupt Philippine life insurance market
Background/Description of the Disclosure

Singlife and Aboitiz partner to disrupt Philippine life insurance market

Aboitiz Group listed firm Aboitiz Equity Ventures Inc. (AEV) and Singapore Life Private Limited (Singlife) have partnered to establish a new digital life insurance company in the country.

The joint venture, Singlife Philippines, majority of which is owned by Singlife (65%) with partners Di-Firm (20%), and AEV (15%), is set to make insurance and financial products more accessible to Filipinos nationwide.

With Singlife’s unique fintech expertise in digitalizing life insurance offers and with AEV’s strategic position across industries in the local market, Singlife Philippines is poised to claim its share in the local life insurance market.

According to the Philippine Insurance Commission, the life insurance market has shown significant growth over the past five years with total premium income growing 9% per annum and sales of new policies growing at approximately 15% per year. However, the penetration of individual life insurance is still low at around 6% of the insurable market. This is expected to increase to 12-18% in the medium-term, fueled by an emerging segment of people purchasing policies for the first time.

A substantial part of this segment consists of people between 25 to 50 years old, with net income between PHP 25-50K per month and a preference for online and mobile services. For this new generation of mobile-first consumers already booking rides and purchasing everyday goods online, Singlife Philippines believes it can also fulfill their financial planning needs through a mobile app.

Singlife Philippines

Singlife Philippines, headquartered in Manila, is a majority-owned subsidiary of Singlife that will soon begin reshaping the financial services industry in 2020. The company’s vision is to unlock the potential of money for everyone by offering innovative financial solutions that help people manage, grow and protect their money distributed according to their preferences.
Singapore Life Private Limited (Singlife)

Singlife is the first independent life insurance company that is fully licensed by the Monetary Authority of Singapore since 1970. Valued at USD 360mn, the company has been recognized for its deep expertise in technology to provide a superior experience for its customers, attracting investments from major life insurers such as Aflac, Aberdeen Standard Investments, and Sumitomo Life Insurance.

Aboitiz Equity Ventures

Aboitiz Equity Ventures Inc. is the public holding company of the Aboitiz Group with major investments in power, banking and financial services, food, infrastructure, and land. Today, AEV is recognized as one of the best-managed companies in the Philippines and in the region, consistently cited for its commitment to good corporate governance and corporate social responsibility. With five generations of Aboitiz Group business successes behind it, AEV continues to drive change for a better world by advancing business and communities.
Other Relevant Information

Please see attached Press Release
Filed on behalf by:
Name Sammy Dave Santos
Designation Associate General Counsel