Business Evaluation Of Alico Life Insurance Co. Ltd
ALICO Life Insurance C0. Ltd.
HISTORY
American Life Insurance Company (ALICO), originally named Asia Life Insurance Company, was formed in 1921 and originally based in Shanghai, China, by Mr. C. V. Starr, the founder of what would later become American International Group, Inc. (AIG). Within ten years, Starr had opened offices across China, Hong Kong and elsewhere throughout Southeast Asia. At the outbreak of World War II, insurance operations in the region were brought to a halt, but even as hostilities wound down, the company turned its sights towards Europe, the Middle East, Africa, the Americas, and the Caribbean, offering life and accident and health insurance to the local nationals. In 1951, Asia Life changed its name to American Life Insurance Company (ALICO).
Today, ALICO conducts business in over 50 countries and territories around the world, operating exclusively outside the United States. In recent years, ALICO has expanded its presence in Central Europe, by reestablishing new life insurance operations in Romania and Bulgaria. This augments ALICO's presence in the region which includes life insurance operations previously established in Poland, Hungary, and the Czech and Slovak Republics. ALICO has also been active in Latin America, where the company established operations in Argentina, Brazil, Peru and Uruguay during the 1990s. The Middle East Region has been another area of growth for the company, with new operations established in Pakistan and Egypt in recent years.
International diversification is a principal source of ALICO's financial and business strength. It is the foundation of a strategy designed to develop a highly diversified revenue and earnings base. In many of the countries where ALICO operates, it leads the market. ALICO has cultivated the ability to respond quickly to changing customer needs and marketplace conditions. ALICO is primarily staffed with local personnel who pursue...
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