Later this year, Firstar Corp. will join a select group of banks offering annuities whose assets will be largely bank-managed.

Last month, the Milwaukee-based banking company, which has $18 billion in assets, signed a letter of intent with Western National Life, the Houston-based insurer, to jointly establish a proprietary fixed-rate annuity.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.