American International Group, Inc. (AIG), recently declared that Robert Scheinerman, presently President, Individual Retirement, will become President, Group Retirement. Adding to the strength and breadth of its administration team, Todd Solash has joined AIG as President, Individual Retirement.
“The aim of our Individual and Group Retirement businesses is to serve our clients and distribution partners with diligence, innovative solutions and care, assisting millions of Americans to achieve financial security in retirement,” said Jana W. Greer, President and CEO, Individual and Group Retirement, AIG. “In recently’s economic, market and regulatory environment, it is essential that our industry-leading Retirement businesses benefit from practiced executives like Rob and Todd, and exceptionally skilled senior administration teams who are highly focused on serving our customers and expanding our market leadership.”
Since joining AIG in 2003, Mr. Scheinerman has assisted propel AIG’s Individual Retirement business forward in the face of many complex and challenging market cycles. During his tenure, AIG has achieved strong market positions, counting number two in total annuity sales through the third quarter of 2016 and top five positions across all major annuity lines – variable, index and fixed.
In his new capacity, Mr. Scheinerman will spearhead the continued expansion of VALIC, AIG’s Group Retirement business. VALIC is a top five industry leader in the not-for-profit Defined Contribution retirement market, serving more than 23,000 employer plans and 1.9 million clients. Mr. Scheinerman will continue to be based in Houston, where the Group Retirement business is headquartered.
In his new role, Mr. Solash will have responsibility for the growth and administration of the Individual Retirement business, counting product manufacturing, market strategy, and operations. He will be based in Woodland Hills, California, where the Individual Retirement business is headquartered. Mr. Solash joins AIG from AXA Equitable, where he held key senior administration positions, counting Senior Executive Director, Head of Individual Annuity Business. Earlier in his career, Mr. Solash was a partner at Oliver Wyman Financial Services, where he consulted with major life insurers, property casualty insurers and banks on various strategy, product development and risk issues.
Both Mr. Solash and Mr. Scheinerman will report directly to Ms. Greer.