|ALICO SUBSIDIARY BRANCHES APPROVED IN LITHUANIA AND LATVIA|
NEW YORK--May 19, 2005--American Life Insurance Company (ALICO), today announced that its Poland based subsidiary, AMPLICO Life First American-Polish Life Insurance and Reinsurance Company, JSC, has received approval from KNUiFE, Poland's Insurance and Pension Funds Supervisory Commission, to establish branches in the countries of Lithuania and Latvia. ALICO is a wholly owned subsidiary of American International Group, Inc. (AIG).
"ALICO is well established in Central and Eastern Europe and we view the long-term growth potential of the life insurance markets in Lithuania and Latvia as promising," said Ken Nottingham, AIG Executive Vice President, Life Insurance and ALICO's Chairman and Chief Executive Officer. "We are pleased to lend our expertise in providing quality life insurance products and services to individuals and businesses in Lithuania and Latvia and look forward to advancing the presence of ALICO in the European Union (EU) in the years to come."
Tomasz Frontczak has been named Director of the AMPLICO Life branches in both Lithuania and Latvia, which will operate under the name of "AIG Life." The branch in Lithuania is located at 14 Basanaviciaus Street, Vilnius, LT-03224 and the Latvia office is located at 4 Tornu Street, Riga, LV-1010. Previously, Mr. Frontczak was President of AIG PTE, a pension fund management company in Poland that is owned jointly by ALICO and AMPLICO Life.
In Poland, AMPLICO Life offers a comprehensive range of life insurance policies, including ordinary life policies, accident and health, and life insurance with investment fund. AMPLICO Life insures a wide range of clients under individual, group and credit life policies.
American Life Insurance Company (ALICO) is among the largest international life insurance companies in the world, with operations in more than 50 countries. ALICO's branches and subsidiaries market a broad range of life, accident and health insurance products, such as traditional life, supplemental medical and personal accident products, group life, annuities and pension and medical business, through a network of agents and brokers. In Central and Eastern Europe, ALICO life insurance operations are also located in Bulgaria, Czech Republic, Hungary, Poland, Slovakia, Romania, Russia and Ukraine.
American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top- ranked life insurer. AIG's global businesses also include retirement services, financial services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed in the U.S. on the New York Stock Exchange and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.