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. reports: "Mauricio Ruiz, Alico's manager in Panama, said he was not authorized to comment on any paperwork being done by the group. However, Alico's intentions are well-known. The company met with several local operators and, in February, Guillermo Constenla, executive president of the National Insurance Institute (INS), confirmed that they negotiated a possible alliance". Said alliance didn't became a reality.

More on this topic

Pan-American Acquires Assets of ALICO in Panama and Costa Rica

November 2011

Through this acquisition, PALIG will increase its already considerable business in Panama and Costa Rica, while expanding its presence in the Caribbean.

In total, the businesses that PALIG are attempting to acquire represent over $125 million in premiums and $675 million in assets, according to 2010 figures.

Alico to Strengthen Presence in Panama

March 2010

The Panamanian branch assures that the sale of Alico to Metlife they enables them to offer more services in the country.

Alico employs 150 employees in the country and provides life, corporate and personal accidents insurance.

“’Our operation will become stronger, and we will sell new products”, assured Mauricio Ruiz, manager of Alico Panamá.

INS Not Able to Develop Alliance with Foreign Insurance Companies

February 2009

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.

Mercedes Agüero, in her article in, writes: "As a coalition of these companies, INS attempted to start a line of personal insurance, especially for life and medical expenses—an untapped niche market due to the 84-year state monopoly."

Panama insurance market calm in midst of the crisis

September 2008

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 manager of AIG Panama preferred not to comment on the topic. However, Alico's manager, Mauricio Ruiz, said that when it comes to their company there will be "absolutely" no damage suffered.

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Aseguradora Ancón

Organization that operates in Panama.
Phone: (507) 210-8787

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