Hartford Annuities Most Popular With Bank Customers Last Year.Hartford Life Insurance Co. held on to its lead last year in individual annuities sold through banks, but American General Life & Annuity Co. closed the gap, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. a survey by Kenneth Kehrer Associates, Princeton, N.J.
Hartford's bank sales were up 11% to $4.2 billion, the first time an insurer has garnered at least $4 billion in annuity premium through banks. American General increased its bank sales by 88% to $3.5 billion. Last year was the fourth consecutive year in which Hartford sold more variable annuities Variable annuities
Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. through banks than any other insurer. It also was the fourth straight year that American General did the same for fixed annuities Fixed annuities
Contracts in which an insurance company or issuing financial institution pays a fixed dollar amount of money per period. .
American General continued to pursue a joint-venture strategy by adding proprietary variable annuities with Washington Mutual “WaMu” redirects here. For the Washington, DC radio station, see WAMU.
Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. and Banc One to its existing proprietary fixed annuities with First Union, Calfed, Firstar and other banks.
Aegon and Transamerica, which merged early in 1999, increased their combined total annuity sales 88% to $2.6 billion, moving into third place over Nationwide Group. Nationwide increased its sales by 14% to $2.3 billion. Kenneth Kehrer, whose consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee
business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a conducts the survey, said both Aegon and Transamerica had been focusing on private-label products for large banks.
The Allstate Life Group increased its sales by 93% to $1.95 billion, but remained in fourth place. Kehrer said its growth came from both the increasing popularity of the Putnam Allstate 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. and from the expanded wholesaling efforts at Glenbrook Life & Annuity. Glenbrook also is one of three fixed-annuity underwriters providing products to Banc One.