COPYRIGHT FROM WIKIPEDIA
Founded in 1910 in Waco, Texas, American-Amicable Life Insurance Company of Texas has a rich history marked by innovation, resilience, and a commitment to protecting families across the United States.
Origins and the Iconic ALICO Building
In the early months of 1909, a group of local businessmen in Waco established Amicable Life Insurance Company, aiming to provide accessible life insurance to the community. The company quickly recognized the need for a headquarters that would symbolize its strength and permanence. In 1910, they completed the ALICO Building—a 22-story skyscraper that was the tallest building west of the Mississippi River and south of the Mason-Dixon Line at the time. Equipped with its own power plant and artesian well, the ALICO Building stood as a testament to the company's ambition and foresight.
Endurance Through Adversity
The ALICO Building's resilience was put to the test on May 11, 1953, when an F-5 tornado struck Waco, causing widespread destruction. Remarkably, the building withstood the intense winds, swaying but remaining structurally sound. It became a critical crisis center for rescue and recovery operations, solidifying its status as a symbol of resilience in the heart of Waco.
Expansion and Growth
Over the decades, American-Amicable expanded its reach, becoming licensed to sell life insurance in 49 states and territories. By 2009, the company had over $7.1 billion of life insurance in force, covering more than 211,500 policyholders. Its products were marketed through a national distribution network of over 6,000 independent agents, primarily targeting the middle-income market—a segment that was often underserved by larger insurers.
Acquisition by Industrial Alliance
In July 2010, Canadian insurer Industrial Alliance Insurance and Financial Services Inc. acquired American-Amicable for approximately CAD 145 million. The acquisition aimed to expand Industrial Alliance's presence in the U.S. market. Post-acquisition, American-Amicable continued to operate under its established brand, maintaining its headquarters in Waco and its subsidiary, IA American Life Insurance Company, in Scottsdale, Arizona. The acquisition allowed American-Amicable to leverage Industrial Alliance's resources while continuing its mission of providing accessible life insurance to American families.
A Living Legacy
Today, the ALICO Building remains a vital part of downtown Waco, housing the home office of the American-Amicable Group of Companies and various local businesses. As both a historic landmark and a modern workplace, the building stands as a testament to Waco’s growth and enduring spirit.
As part of Industrial Alliance, American-Amicable continues to offer innovative life insurance and annuity products tailored to the individual needs of protection, wealth creation, and estate preservation. With a solid financial foundation and a commitment to responsible management, American-Amicable looks to the future with enthusiasm, aiming to protect generations to come.
