CLEVELAND — Ceres Group Inc. has signed a letter of intent to establish Ceres Marketing LLC, which will distribute annuity products developed with Great American Financial Resources Inc. and that company’s Loyal American Life Insurance Co. subsidiary.

Ceres Marketing will distribute through insurance agents, annuity producers and Ceres Group’s subsidiary. It has no plan at the moment to market through banks.

Annuities are a new business line for Ceres Group, which provides health and life insurance products and medical cost-management services.

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