ALICO not affected by AIG problems 

(MENAFN - Arab News) ALICO, a subsidiary of American International Group (AIG), has reassured its policyholders and partners in Saudi Arabia of its strong and stable position.

"ALICO is a separately rated company and AIG's financial situation does not affect ALICO's ability to pay policyholders' claims. ALICO remains financially strong, well-capitalized and complies with the local regulatory capital requirements," said a press release issued by the company.

ALICO has well-positioned businesses in diverse markets around the world, and its branches and subsidiaries continue to operate normally.

"We reassure all policyholders in the Kingdom that ALICO's branches and subsidiaries are regulated by the local insurance supervisory authorities in each country where it operates and ALICO satisfies local regulatory capital requirements," the press release added.

ALICO (American Life Insurance Company) is one of the largest international life insurance companies in the world. Its branches and subsidiaries market a wide range of life and health insurance products, including traditional, variable universal and credit life insurance, as well as supplemental medical and personal accident products, health and hospitalization insurance, group life, pensions and annuities through a variety of channels.

The company operates in more than 55 countries and regions around the world including Japan, Europe, the Middle East, South Asia, Latin America and the Caribbean.