Aegon USA Inc. has promoted William L. Busler to chairman of its financial markets division, a new post.

Mr. Busler will be responsible for developing life insurance products for the Cedar Rapids, Iowa, underwriter, said Larry N. Norman, who succeeded Mr. Busler as president of the division.

The changes are part of Aegon's desire to become more than just a vendor of annuities, Mr. Norman said.

Aegon is the fifth-largest provider of annuities through banks, selling more than $1 billion through the channel last year, according to Kenneth Kehrer Associates Inc., Princeton, N.J.

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