American Skandia Marketing Inc. has added 10 investment options - including a new AST Janus Mid-Cap Growth Portfolio - to its lineup of tax-deferred variable annuities and mutual funds.
All 10 are available through banks. American Skandia, in Shelton, Conn., sold $2.7 billion of variable annuities in the first quarter, $284 million through banks. The company has $34 billion of assets under management.
Similarly, Springfield, Mass.-based MassMutual Annuities announced that it has added 10 investment options to its Panorama Premier and Panarama Passage variable annuities. The Premier product had $162 million in sales in the first quarter of 2000, while the Passage had $97 million in sales. However, neither had substantial bank figures to report.
MassMutual expects to ramp up its bank distribution of its products in the coming weeks.