Alico reassures clients and policyholders on current market volatility

While Alico's current parent company American International Group, Inc. (AIG) has been affected by the volatility in the financial markets, it is important to understand that Alico's policyholders are protected and that the Company continues to honor all its commitments to its customers.

The $85bn credit facility provided by the Federal Reserve Bank of New York to AIG to meet its near-term liquidity needs, represents a tremendous vote of confidence by the U.S. treasury and the U.S. federal government in AIG's ability to repay the loan with some asset sales.

We reassure all policyholders in Oman that Alico's branches and subsidiaries are regulated by the local insurance supervisory authorities in each country where it operates and Alico satisfies or exceeds local regulatory capital requirements.

Alico's subsidiaries and branches will continue to pay valid policyholders claims, and remains strong, liquid and well capitalized. We have strong, well positioned businesses in diverse markets around the world, and our branches and subsidiaries continue to operate in the normal course to meet obligations to policyholders.

In this context, and in response to some news articles and allegations published locally recently, we would like to stress to our customers that we are solid and that Alico did not get any cancellation requests in direct relation to these developments. On the contrary, we remain focused on the daily execution of our business and continue to provide the highest levels of services to our valued customers.