ALICO To Seek Public Listing in NY
NEW YORK--Jul. 15, 2009--
American International Group, Inc. (AIG) today announced it will
accelerate steps to position American Life Insurance Company (ALICO) as
an independent entity and seek an initial public offering and public
listing in New York, depending on market conditions and subject to
regulatory approval. This planned public offering of ALICO is a
significant step in the process that was announced by AIG on March 2 and
will result in a board of directors and management team for ALICO
separate from AIG.
“We continue to consider all strategic options through a robust,
structured and disciplined process. At this stage, we expect that a
public offering for ALICO will be beneficial to all stakeholders,
including U.S. taxpayers, policyholders, employees and distribution
partners,” said Edward Liddy, Chairman and Chief Executive Officer of
Rodney O. Martin, Jr., Chairman and Chief Executive Officer of ALICO
said, “Today’s announcement represents a roadmap for our independence.
“Our ability to weather current economic conditions across all of our
markets demonstrates the strength of our operations, diversification of
our platform, confidence of our customers and support of our
distribution partners.” ALICO is a leading global insurer operating in
54 countries with 19 million customers, over 40,000 agents and
distribution partners and assets under management of more than $89
Alico is a leading international life insurer with a unique heritage of
serving customers across the globe for over 85 years. The company
provides consumers and businesses with products and services for life
insurance, accident and health insurance, retirement planning, and
wealth management solutions. Through an extensive network of over 40,000
agents, brokers and financial institutions and 11,000 employees across
54 countries, Alico services 19 million customers worldwide.
Alico has branch offices, subsidiaries and affiliates in emerging,
developing and developed markets in Europe, Asia, the Middle East,
Africa and Latin America. Alico is domiciled in Wilmington, Delaware and
has regional headquarters in Tokyo, London, Paris, Athens, Dubai, and
American International Group, Inc. (AIG), a world leader in insurance
and financial services, is the leading international insurance
organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional and
individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services,
financial services and asset management around the world. AIG’s common
stock is listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.
Source: American International Group, Inc.
American International Group, Inc.
David Monfried, 1-212-770-7205
Teri Watson, 1-212-770-7074