RIYADH, 20 January 2008 — Top executives of American Life Insurance Company (ALICO) visited the Kingdom of Saudi Arabia and met with senior officials of Arab National Bank (ANB) in Riyadh on Wednesday.
Headed by Joyce A. Phillips, president and chief operating officer, ALICO, the executives also attended several meetings and private sessions with government officials and prominent local business people to explore partnership opportunities.
“During my visit, I was very pleased to be discussing ways to reaffirm ALICO and AIG’s presence in the Kingdom of Saudi Arabia,” said Phillips. She was accompanied by Patrick Choffel, regional president for ALICO’s Middle East, Africa and South Asia Region.
“Arab National Bank is honored to host Ms. Phillips,” said Dr. Robert Eid, managing director and CEO of Arab National Bank. “We have enjoyed meeting with the recognized leader in insurance and banking, and we look forward to the prospect of building on the partnership discussions we have had during her visit.”
Phillips’ visit to the Kingdom is her first. The trip is significant, given her previous role at Citigroup as head of international retail banking where she was responsible for strengthening the company’s retail banking product distribution and expansion in 42 countries.
ALICO, a member company of American International Group, Inc (AIG), is one of the largest international life insurance companies in the world.
With more than $294 billion of life insurance in force as of Dec. 31, 2006, ALICO conducts business globally in more than 55 countries.
AIG, a world leader in insurance and financial services, is a leading international insurance organization with operations in more than 130 countries and jurisdictions.