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Securian Aims for the Bank Annuity Market

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Securian Financial is building a team of six regional vice presidents to manage its entry into the bank distribution channel for individual annuities.

(Related: Retail Channels Gobbling Up Bigger Share of Assets)

Chris Owens is the St. Paul, Minnesota-based company’s national sales vice president for retail life and annuities.

The company has already hired Kate McLees Hannon and Karl Krause to be regional sales vice presidents for the bank channel, and it says it plans to hire four more regional vice presidents for the bank channel by the end of the year.

Securian says it will be developing annuities aimed at the bank channel, as well as offering the annuities already on its shelves through the bank channel.

Securian sells fixed, indexed, variable and immediate annuities, and it offers contracts with chronic care riders.

Securian’s main life insurance operating companies are Minnesota Life Insurance Company and Securian Life Insurance Company. The company ended 2018 managing about $79 billion in assets.

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