ALICO (American Life Insurance Company)

ALICO (American Life Insurance Company)

• 1921 – Founded: ALICO was founded in Shanghai, China, by Cornelius Vander Starr. It was created to sell life insurance to the Chinese population, which was a novel concept for a foreign firm at the time.
• 1939 – Relocation: Due to rising political tensions and the looming war in Asia, the company moved its headquarters to New York City.
• 1950s – Global Expansion: ALICO expanded aggressively into the Middle East, Japan, and the Caribbean, becoming a pioneer in offering U.S.-style life insurance products internationally.
• 1970s – AIG Era: ALICO became a core subsidiary of American International Group (AIG), serving as AIG's primary international life insurance arm.
• 1980s – Market Leader: The company cemented its position as the market leader in Japan's foreign life insurance sector, known for its strong agency sales force.
• 2008 – Financial Crisis: During the global financial crisis, AIG faced liquidity issues, leading to plans to divest ALICO to repay government loans.
• 2010 – Acquisition: MetLife, Inc. acquired ALICO from AIG for approximately $16.2 billion. This was a strategic move by MetLife to become a top-tier global insurer.
• 2011 – Rebranding: MetLife began rebranding ALICO operations in various countries to the MetLife brand, though the ALICO name was retained in some markets (like Japan) for stability during transition.
• 2012 – Integration: Full integration of ALICO’s systems into MetLife completed, making MetLife one of the largest life insurers in Japan and Europe.
• Present – Status: ALICO operates today fully as MetLife, though the original legal entity names (e.g., MetLife Alico) still appear in certain international regulatory filings.

Source: MetLife History | AIG History

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