American Life Insurance Company, a member company of American International Group, has been granted a license by the Qatar Financial Centre Regulatory Authority to operate a retail life insurance business in the Qatar Financial Centre.
Joyce Phillips, president and COO of American Life Insurance Company (ALICO), said: We are pleased to have been granted this expanded license by the Qatar Financial Centre Regulatory Authority. 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.
Patrick Choffel, regional president for ALICO’s Middle East, Africa and South Asia Region, added: ALICO has a long-standing presence in the region, and we currently operate in all countries within the Gulf Cooperation Council. We’ve been actively contributing to the economy of Qatar for more than 30 years and we look forward to expanding our operations as a result of this extension.