ALICO will be moving its regional headquarters to the Gate Building at the DIFC to service its operations in the Middle East, Africa and South Asia (MEASA) region.

American Life Insurance Company (ALICO) has been present in the Middle East, Africa and South Asia region since 1952 and maintains a leading presence in 14 territories across the region providing a wide range of Life, Accident and Health insurance products through diversified distribution channels, starting from Bangladesh (since 1952), Lebanon (since 1953), Saudi Arabia (since 1954), Kuwait (since 1954), Jordan (since 1958), Bahrain (since 1960), United Arab Emirates (since 1962), Qatar (since 1962), Oman (since 1971), Turkey (since 1988), Pakistan (since 1995), Palestine (since 1996), Egypt (since 1997) and Nepal (since 2001).

Welcoming ALICO, Dr. Omar Bin Sulaiman, Director General of the DIFC Authority said, 'This is a significant addition to our portfolio of major international insurance companies located at the DIFC. With ALICO's well-positioned presence and fast growing record, we all stand ready for even greater growth potential in the future.

Mr. Patrick Choffel, ALICO MEASA's Regional President said, http://www.difc.ae About the DIFC: The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services.

In just over one year, more than a hundred top international institutions have joined the DIFC as members. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.

4. The DIFC Courts - An independent court system set up to uphold the provisions of DIFC laws and regulations, the courts provide comprehensive legal redress in civil and commercial matters within the DIFC. The laws, enacted by His Highness Sheikh Maktoum bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, provide for a new court system designed especially for the DIFC and the sophisticated transactions that will be conducted within it.

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