American International Group (AIG) has formed a new international retirement savings unit. John A. Graf, currently executive vice president of retirement savings at AIG, will head up the new unit.

"In many markets, we already have been successful serving a full array of the financial needs of our large policyholder base. With a global franchise, AIG is uniquely positioned to become the leading provider in the worldwide retirement savings market in the years ahead," said M. R. Greenberg, chairman of AIG, in a statement.

AIG's network of foreign life insurance now extends into over 70 countries.

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