HOUSTON, Sept. 5 /PRNewswire/ -- American General Corporation (NYSE: AGC)
today announced several senior management appointments in the independent
producer division of its life insurance segment operations.
    William A. Simpson, 58, has been named chairman and chief executive
officer of The Franklin Life Insurance Company.  Simpson succeeds Robert J.
Gibbons, 54, who has assumed new responsibilities in American General's
operations support group and will report directly to the parent company's
office of the chairman.  Simpson, who previously served as president and chief
executive officer of Old Line Life Insurance Company, is succeeded by Richard
A. Hollar, 50, who most recently served as senior executive vice president and
chief marketing officer of Old Line Life.  Both Simpson and Hollar will report
directly to Rodney 0. Martin Jr., 45, president of American General's
independent producer division.
    In commenting on the announcement, Robert M. Devlin, chairman and chief
executive officer of American General, said, "We are pleased to have
individuals in our organization like Bill and Rick who possess both the
management skill and industry expertise necessary to lead their respective
organizations during this dynamic period in the life insurance industry.
These seasoned life insurance executives will play an important role in
implementing our strategy for improving growth and profitability in the newly
formed independent producer division."
    Simpson's 32-year financial services industry career includes 22 years
with Transamerica, where he served in a variety of senior management positions
including president and chief operating officer of Transamerica's life
insurance companies.  He joined USLIFE Corporation in 1990 and was president
of its life insurance division.  He later served as vice chairman and chief
executive officer of All American Life Insurance Company.  Simpson, a native
of Oakland, California, received his B.S. degree in business administration
from the University of California at Berkeley in 1961.  He is a Chartered Life
Underwriter (CLU) and completed the executive management program at Columbia
Business School in 1980.
    Hollar began his 27-year financial services industry career with American
General and later served as regional director and executive vice president of
Philadelphia Life Insurance Company.  He served as president and chief
marketing officer of First Delaware Life Insurance Company before joining
USLIFE Corporation in 1990 as executive vice president of All American Life.
Hollar, a native of Long Beach, California, received his B.B.A. degree from
The University of Texas at Austin in 1969.  He is a Chartered Life Underwriter
(CLU) and a LIMRA Leadership Institute Fellow (LILIF).
    The Franklin Life Insurance Company, with assets of over $7 billion and
life insurance in force of $35 billion, is a leading provider of individual
life insurance products to families and businesses throughout the United
States.  Headquartered in Springfield, Illinois, Franklin's sales force of
over 3,000 agents operates through 34 regional offices.
    The Old Line Life Insurance Company, with assets of $1.5 billion and life
insurance in force of $50 billion, markets traditional and interest-sensitive
life insurance and annuities.  Headquartered in Milwaukee, Wisconsin, the
company meets the needs of middle- to upper-income households through a
distribution network of over 11,000 independent agents.
    American General Corporation is one of the nation's largest diversified
financial services organizations with assets of $77 billion and shareholders'
equity of $6.7 billion.  Headquartered in Houston, it is a leading provider of
retirement services, life insurance, and consumer loans to 12 million
customers.  American General common stock is listed on the New York, Pacific,
London, and Swiss stock exchanges.

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