Fidelity International and American Life Insurance Company (‘ALICO AIG Life’) today announced that they are to work together to bring an enhanced choice of products to ALICO's customers in the Gulf region.
Under the terms of the arrangement, ALICO AIG Life will provide its clients in the region the opportunity to access a selection of Fidelity International’s Funds via the various investment strategies of its life insurance unit linked savings and retirement products.
Cormac Sheedy, Fidelity’s Director of Sales, Middle East said: “The announcement brings together two of the strongest financial services providers in the region. We see this very much as a partnership: in addition to providing access to our fund range, we will also be working closely with the team at ALICO AIG Life and providing training to ensure staff are able to explain the benefits of these products to their customers.”
Carl Tachdjian, Director of ALICO AIG Life’s Bancassurance Operations in the Gulf, said: “The use of proven Fidelity funds, such as the FF Emerging Markets Fund, FF China Focus Fund and FF Asia Pacific Property Fund will assist our customers in better achieving their financial objectives under ALICO's life insurance policies. It has always been our objective at ALICO AIG Life to provide our policyholders with access to selective investment strategies via cooperation with world-class fund houses.”
American Life Insurance Company (ALICO), is one of the largest international life insurance companies in the world, with more than US$294 billion of life insurance in force as of December 31, 2006.
Fidelity is one of the best-known names in international investment. Present in the Middle East for more than five years, Fidelity International Limited (“FIL”) and its subsidiary companies serve the major markets of the world by providing investment products and services to individuals and institutional investors outside the US. The FIL Organisation manages a total of US$ 280.7 billion of assets.
© 2007 Al Bawaba (www.albawaba.com)
