Jan. 13 (Bloomberg) — American International Group Inc. plans to add 600 advisers in a push to increase sales of retirement products as some rivals retreat from annuities.
The insurer will increase the number of career agents at its newly named AIG Financial Network to 2,000 by 2019 from about 1,400, John Deremo, chief distribution officer for AIG Financial Distributors, said in an interview. The New York-based company is rebranding its American General career agent force and adding annuities and other retirement products to the life insurance that the advisers have traditionally sold, according to a statement today.
"What we're really doing is moving a bit upscale into a more mass-affluent space, incorporating retirement planning into the protection focus," Deremo said. "While a lot of companies are pulling back or pulling out of markets, we are expanding."
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
