AFLAC considers Alico deal

AFLAC Inc. Chairman Daniel Amos has indicated the insurer will consider acquiring Alico Japan and two other insurance firms operating in Japan under American International Group Inc.

"We are interested in reviewing a proposal to acquire Alico" if such a request is made, Amos said Tuesday.

The three units AIG plans to sell are Alico Japan, AIG Star Life Insurance Co. and AIG Edison Life Insurance Co.

But Amos also sounded a cautionary note about a possible purchase, saying the current information is sketchy.

AFLAC will study the matter only if it believes a deal would benefit shareholders and policyholders, Amos said.

The U.S. Federal Reserve said last month it will lend up to $85 billion to AIG to skirt bankruptcy, effectively putting one of the world's largest insurers under state control.

AIG, the biggest insurance firm in the U.S., launched Alico Japan as the first foreign life insurance company in Japan in 1973. In terms of premium revenues, Alico Japan now ranks fifth in the Japanese life insurance market.