AIG subsidiary gets green light to enter Lithuania and Latvia
The approval was given by KNUiFE, Poland's Insurance and Pension Funds Supervisory Commission, for Amplico Life to establish branches in the two neighboring eastern European countries. Tomasz Frontczak has been named director of the Amplico Life branches in both Lithuania and Latvia, which will operate under the name of AIG Life. The branch in Lithuania will be located in Vilnius, while the Latvian office will be situated in Riga. "American Life Insurance Company (ALICO) is well established in Central and Eastern Europe and we view the long-term growth potential of the life insurance markets in Lithuania and Latvia as promising," said Ken Nottingham, AIG executive vice president of life insurance and ALICO's chairman and CEO. "We are pleased to lend our expertise in providing quality life insurance products and services to individuals and businesses in Lithuania and Latvia and look forward to advancing the presence of ALICO in the European Union in the years to come."