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Japan Post To Sell AIG Sub VA Contracts

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Units of Japan Post Holdings Company Ltd. have agreed to market variable annuities from ALICO Japan.

Japan Post Bank Company Ltd. and Japan Post Network, subsidiaries of Japan Post, Tokyo, have been selling life insurance products from ALICO Japan since December 2007.

Japan Post Bank has 234 branch offices, and Japan Post Network has 24,600 offices.

ALICO Japan, Tokyo, is a branch of American Life Insurance Company, Wilmington, Del., which, in a turn, is a unit of American International Group Inc., New York.

The Japan Post units will be selling a new ALICO Japan variable annuity with a flexible premium payment design, according to AIG.