Business Briefs

New C-5 landmark

Glaston Tower, Ortigas & Co.’s first office tower, recently broke ground at Ortigas East,  the property firm’s P50-billion redevelopment of the estate formerly known as Frontera Verde.

The 34-story Glaston Tower is set to provide office spaces for tech start-ups and more established, traditional businesses such as consulting and trading companies, law firms and financial corporations.

Consisting of 25 office floors, eight levels of podium parking, and two levels of basement parking, The Glaston Tower will also have food and retail establishments on the ground floor, while being connected to a new regional mall through a sky lobby located in the tower’s upper level.

Designed with a modern look, The tower will rise be a new landmark in the C-5 corridor.

Bancassurance firm grows

Bancassurance firm BPI-Philam Life Assurance Corp. continued to outpace its financial performance in previous years, according to data released by the Insurance Commission.

Across the board, the company grew by more than P1 billion in both premium income and net worth, posting increases of 6 percent and 22 percent, respectively.

BPI-Philam’s growth contributed to the strong industry standing of parent firmPhilam Life, posting a combined premium income of P40.2 billion.