International, Inc. and AGC Life Insurance Co.

Templeton American General Life of Bermuda, Ltd. plans to develop, sell and administer private placement variable life insurance products especially tailored for high net worth individuals, worldwide.

Templeton American General Life's variable products combine insurance and investment opportunities to assist in estate planning and protection and wealth accumulation and transfer.

The equal partners, Templeton International and AGC Life, said in a press statement they share a commitment to Templeton American General Life's offering of world-class variable insurance products and superior service to a worldwide client base.

While Templeton American General Life operates as an independent company and relies on its own financial strength, the Templeton International and AGC Life organisations bring long-standing records of stability, dependability, knowledge and experience to the company.

Templeton International is a wholly-owned subsidiary of Franklin Resources (NYSE: BEN), which provides through its subsidiaries, global and US investment management, shareholder and distribution services to the Franklin Templeton mutual funds and institutional accounts totalling $243 billion.

Franklin Templeton has more than 8.2 million shareholder accounts and 500 institutional relationships with 23 offices worldwide. Franklin Resources, Inc. common stock is listed on the New York, Pacific and London stock exchanges.

AGC Life is a wholly owned subsidiary of American General Corporation (NYSE: AGC), one of the largest diversified financial services organisations in the US with assets of $96 billion and market capitalisation of $17 billion.

Headquartered in Houston, it is a leading provider of retirement services, life insurance and consumer loans to more than 12 million customers. American General common stock is listed on the New York, Pacific, London and Swiss stock exchanges.