American Life Insurance in Costa Rica
The multinational company American Life Insurance is the third foreign insurer interested in operating in Costa Rica.
Monday, August 17, 2009
Alico, a subsidiary of American International Group (AIG), began the process for obtaining authorization to operate in the local insurance market.
The National Institute of Insurance of Costa Rica was not successful in formalizing an alliance with the businesses Alico and Pan-American Life to initiate a line of personal insurance.
The huge American insurer has interest in the local market via AIG Panama and American Life Insurance Co, a branch of Alico Delaware, whose main holding in the US is owned by AIG.
The Panamanian branch assures that the sale of Alico to Metlife they enables them to offer more services in the country.
Through this acquisition, PALIG will increase its already considerable business in Panama and Costa Rica, while expanding its presence in the Caribbean.
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