Aetna announces annuity & insurance marketing agreement with Invest Financial Corp.HARTFORD, Conn.--(BUSINESS WIRE)--Aug. 28, 1995--Aetna Life Insurance and Annuity Co. (ALIAC) and its Financial Institutions Marketing Group have reached a selling agreement with INVEST Financial Corp. Under this contract, INVEST will market a full complement of ALIAC's fixed and variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. and life insurance products through its financial institutions programs throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . INVEST, which is based in Tampa, Fla., is one of the nation's leading marketers of annuities, insurance and securities products to financial institutions. Today INVEST works with over 200 banks, thrifts and credit unions nationally. Formed in 1981, INVEST is a subsidiary of Kemper Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . "We are delighted that INVEST is adding a full line of Aetna's products to its program and look forward to helping INVEST meet the insurance and investment needs of its banking customers across the United States," said David M. Sanderford, ALIAC's vice president, Financial Institutions Marketing. He added, "this represents a very important expansion and growth opportunity for Aetna, which will augment our own business development efforts in acquiring direct banking relationships for our financial products." "We are happy to be joining forces with Aetna," said Merlin R. Gackle, Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of INVEST. He added, "the Aetna name is very well known and respected throughout the country, and I am confident in our ability to achieve success with this new and important business relationship. Our subscriber banks and investment representatives are excited about this new endeavor, and look forward to working together with Aetna and presenting the products to their customers." According to Gackle, INVEST plans to introduce Aetna's flexible premium fixed annuities Fixed annuities Contracts in which an insurance company or issuing financial institution pays a fixed dollar amount of money per period. and its variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. , Aetna Marathon Plus, to most of its current banks, beginning in September. In addition, INVEST will be able to present Aetna products through its business development activities to banks joining the INVEST program. Robert K. O'Mara, National Director, Financial Institutions Marketing for ALIAC, will coordinate the relationship between INVEST and Aetna from his office in Tampa. ALIAC, with assets over $21 billion, which includes over $8 billion in variable and mutual fund assets Fund assets The total value of a portfolio's securities, cash, and other holdings, minus any outstanding debts. under management, is a wholly-owned subsidiary of Hartford based Aetna Life and Casualty Co., one of the nation's largest diversified insurance and financial services companies, with consolidated assets of $95 billion. CONTACT: Andrew Schwartz, 203/275-3767 Betty S. Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] , 813/289-5732 |
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