In November 2010, MetLife, Inc. acquired Alico, and a restructuring of the MetLife group’s European companies is now taking place.
As part of the first phase of this restructuring process, certain lines of Alico’s UK business were transferred to various companies within the MetLife group on 1 September 2012. The products that were part of this transfer include:
- High Net Worth policies (including Premier Access Bond, Premier Bond, Select) – transferred to MetLife Limited
- Living Time – transferred to MetLife Europe Limited
- Employee Benefits – transferred to MetLife Europe Limited
- PAX/XPAX/RPAX/CPAX – transferred to MetLife Europe Limited
- Bulk Purchase Annuities – transferred to MetLife Assurance Limited.
As part of the second phase of this restructuring, Alico’s Irish business (Alico Life International Limited) was transferred to MetLife Europe Limited.
What does this mean for MetLife policyholders?
There will be no changes to existing MetLife policies as a result of the proposed transfer of Alico’s Irish business to MetLife Europe Limited.
What happens next?
The transfer of Alico’s Irish business to MetLife Europe Limited was approved by the High Court of Ireland on 24 October 2012, and the transfer took effect on 1 November 2012.
For further information about the transfer, please visit www.alicolifeinternational.com or click on the links below.