Posted on 19 Feb 2010
American International Group, Inc. (AIG) announced today that Timothy Schiltz has been appointed Senior Vice President of SunAmerica Financial Group and, effective April 1, 2010, will be named Chairman of AIG Star Life Insurance Co., Ltd. (AIG Star) and AIG Edison Life Insurance Company (AIG Edison).
SunAmerica Financial Group, a leader in life insurance, annuities and guaranteed income solutions, is currently comprised of AIG's domestic life and retirement services businesses. AIG Star and AIG Edison are leading life insurance, annuity, and accident and health providers in Japan. Mr. Schiltz will be responsible for the shareholder representation and oversight of AIG Star and AIG Edison by AIG. Mr. Schiltz will report to Jay S. Wintrob, President and Chief Executive Officer of SunAmerica Financial Group.
Commenting on the announcement, Robert H. Benmosche, President and CEO of AIG, said, "I am very enthusiastic about bringing AIG Star and AIG Edison together with SunAmerica Financial Group under the leadership of Jay Wintrob. Both AIG Star and AIG Edison have roots that include over 100 years of experience in the Japanese market, and we greatly value the distinct strengths of their career and independent agencies. Combined with unique bank and sponsor relationships, these two organizations are known in Japan for their broad array of quality life insurance, annuity, and accident and health products."
"Including AIG Star and AIG Edison among the group of companies at SunAmerica Financial Group will provide numerous opportunities to exchange and benefit from best practices in product development, sales and marketing, customer service and operations, and risk management," Mr. Wintrob said. "I am both honored and delighted to work with the experienced and well-respected senior management teams at AIG Star and AIG Edison, led by Norio Tomono and Kazunori Kataoka. I am confident that these accomplished businesses will benefit from Tim Schiltz's strong leadership, experience and demonstrated success in the Japanese marketplace."
Mr. Schiltz joins SunAmerica Financial Group from American Life Insurance Company (ALICO), where he was Senior Vice President and a member of the board of directors. Mr. Schiltz joined AIG in 2006 as Regional Vice President of AIG International Retirement Services in Asia. Prior to that, Mr. Schiltz served as President and CEO of Hartford Life Japan.
SunAmerica Financial Group is the fourth largest life insurance organization in the United States based on more than $221 billion of admitted assets as of September 30, 2009. It is comprised of several leading life insurance and retirement services businesses, including American General Life Companies, AGLA, VALIC, Western National Life Insurance Company, SunAmerica Retirement Markets, SunAmerica Mutual Funds, SunAmerica Affordable Housing Partners, FSC Securities, Royal Alliance and SagePoint Financial. The unified businesses, which comprise the domestic life and retirement services unit of AIG, offer a comprehensive suite of life insurance, retirement savings products and guaranteed income solutions through an established multi-channel distribution network that includes banks, national, regional and independent broker-dealers, career financial advisors, wholesale life brokers, insurance agents and a direct to consumer platform.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.