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AIG seeks to add 600 advisers in Benmosche’s annuities push

Chief Executive Officer Robert Benmosche, 69, is focusing on annuities as more Americans approach retirement and competitors including MetLife Inc. limit sales.

By Zachary Tracer | Updated on January 13, 2014

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.

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