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‘Alico sell-off would boost stability’

AIG’s proposed sale of Alico will bring greater security to UK investors in Living Time, it is claimed.

Living Time sales director Dave Harris says any purchaser of Alico will have to be a major player which will increase stability for the company.

Living Time is underwritten by Alico and Davis says investors are already feeling reassured by the announcement made last Friday.

He adds that any guarantees provided by AIG Life and Living Time will remain in place under the new owner.

Press reports suggest that global businesses that may be interested include MetLife, Manulife and Axa.

Harris says: “I would be very surprised if Alico sits in the shop window for long. I think somebody will snap it up for a good price. It would be very difficult for Alico to be sold off in individual parts. My expectation is it will be sold off in its entirety.”

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