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Editor Note:
 
 
“AlHuda CIBE is organizing World largest Conference on Islamic Banking & Finance on 7th April, 2008 at Lahore – Pakistan “
 
 
 
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ALICO - wins license to operate life insurance business in qatar
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American Life Insurance Company (ALICO), a member company of American International Group, Inc. (AIG), announced today that it has been granted a license by the Qatar Financial Centre Regulatory Authority to operate a retail life insurance business in the Qatar Financial Centre. ALICO is the first life insurance company to receive an expanded license, which is in addition to a wholesale life insurance license first obtained in February 2007.
“We are pleased to have been granted this expanded license by the QFC Regulatory Authority,” said Joyce A. Phillips, ALICO President and Chief Operating Officer. “The regulatory approval allows ALICO the opportunity to expand its wholesale and retail life insurance services that are offered through the vibrant financial hub currently at the heart of Qatar’s dynamic economic growth.”
ALICO has been operating in the Middle East since 1952 and in Qatar since 1963. ALICO has regional offices in the Dubai International Financial Center and maintains a leading presence in 14 territories across the region.
“ALICO has a long-standing presence in the region, and we currently operate in all countries within the Gulf Cooperation Council,” said Patrick Choffel, Regional President for ALICO’s Middle East, Africa and South Asia Region. “We’ve been actively contributing to the economy of Qatar for more than 40 years and we look forward to expanding our operations as a result of this extension.”

 
 
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