Marketers, Banks

AIG monetary network has 50 local workplaces and approximately 100 satellite tv for pc locations, Deremo said. The insurer has some other profession employer force, with 1,200 advisers, underneath the Valic emblem and additionally sells existence and retirement products thru independent marketers, banks, brokerage companies and its own broker-supplier community.

“we're capitalizing on the great of AIG to construct an unheard of monetary community,” Benmosche stated inside the assertion.

AIG expanded its impartial broking-supplier network with the acquisition of Woodbury monetary services from Hartford financial offerings institution Inc. in 2012. Benmosche final yr named Erica McGinnis as CEO of the community. That operation has more than 6,000 financial advisers who don’t get salaries from AIG and are capable of sell coverage and retirement merchandise presented by using other agencies.

AIG was the No. 2 supplier of U.S. man or woman annuities in the first nine months of 2013, up from the 6th largest a yr earlier, in keeping with statistics compiled by using industry organization Limra. MetLife, the biggest U.S. life insurer, is scaling again from capital-in depth groups consisting of variable annuities as CEO Steven Kandarian works to reduce hazard tied to market fluctuations.