News AIG Optimistic About Q3 Annuity Sales

August 12, 2020 by Allison Bell

A top executive at American International Group says U.S. annuity sales seem to be firming up.

Kevin Hogan, the chief executive officer of AIG’s Life & Retirement unit, talked about the sales pipeline Tuesday, during a conference call the company held to go over its latest earnings.

Hogan told the analysts that, because of the effects of COVID-19 and the pandemic-related social distancing rules, “the quarter was the lowest in memory.”
But, “towards the latter part of June, we saw some real signs of life,” Hogan said.

The bank channel suffered the most serious disruption: AIG annuity sales through that channel fell about 60%.

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Originally Posted at ThinkAdvisor on August 5, 2020 by Allison Bell.