As of December 31, 2008, financial results, reported on a statutory basis, included assets under management of US $84bn, total statutory revenues of $32.3bn, after tax operating income of $1.3bn (before realized capital gains/losses), and net income of $176.9m. After tax operating income represented an increase of 30% from 2007.
ALICO holds approximately 75% of its investment assets in Fixed Income Securities and Cash. Overall investments are high quality with an average asset rating of AA. ALICO has low exposure to alternative asset classes.
The ratings agencies of Standard and Poor's ("S&P"), Moody's Investor Service, Fitch Ratings, and A.M. Best confirmed, on March 2, 2009, respectively their Strong, Good, Very Strong, and Excellent financial strength ratings for ALICO.
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Alico achieves solid operating results in 2008
- United Arab Emirates: Tuesday, April 14 - 2009 at 15:09
- PRESS RELEASE
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American Life Insurance Company (ALICO) announced today that it achieved solid operating results despite the difficult economic environment.
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Posted by Rima Ali Al MashniTuesday, April 14 - 2009 at 15:09 UAE local time (GMT+4)
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This article was updated on Sat Apr 18 2009.
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About ALICO
American Life Insurance Company (ALICO), incorporated in Delaware, USA, was founded in 1921. ALICO is one of the largest and most diversified international insurance companies in the world. ALICO branches and subsidiaries market a wide range of life and health insurance products around the world including Japan, throughout much of Europe, the Middle East, South
Asia, Latin American and the Caribbean.
ALICO products include traditional life insurance, variable universal life insurance, supplemental medical and personal accident products, health and hospitalization insurance, group life, pensions and annuities.
For more information please contact:
Reena Vivek
Regional e-Business Head
Middle East, Africa & South Asia
American Life Insurance Company
Dubai International Financial Center (DIFC)
"The Gate" Building, West Wing, 7th Floor,
P.O.Box 211012, Dubai, UAE
Direct : +971 4 3600 563
American Life Insurance Company (ALICO), incorporated in Delaware, USA, was founded in 1921. ALICO is one of the largest and most diversified international insurance companies in the world. ALICO branches and subsidiaries market a wide range of life and health insurance products around the world including Japan, throughout much of Europe, the Middle East, South
Asia, Latin American and the Caribbean.
ALICO products include traditional life insurance, variable universal life insurance, supplemental medical and personal accident products, health and hospitalization insurance, group life, pensions and annuities.
For more information please contact:
Reena Vivek
Regional e-Business Head
Middle East, Africa & South Asia
American Life Insurance Company
Dubai International Financial Center (DIFC)
"The Gate" Building, West Wing, 7th Floor,
P.O.Box 211012, Dubai, UAE
Direct : +971 4 3600 563
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