American International Group exceeded third-quarter profit expectations on Wednesday, driven mainly by growth at its general insurance and life and retirement units. A popular investment and retirement savings option, fixed index annuities have seen strong demand in recent months as customers wade back into market-linked products following a recovery in investor sentiment this year. The surge in demand for fixed index annuities helped AIG's life and retirement unit, which saw a 24% jump in adjusted pre-tax income.
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