BOSTON - John Hancock Life Insurance Co. announced three alliances to expand distribution of its products through banks and other financial institutions.
Fifth Third Bank of Cincinnati, the San Diego third-party marketer Cuso Financial Services, and SouthTrust Securities of Birmingham, Ala., are to offer John Hancock mutual funds, variable and fixed annuities, and other insurance products, including life insurance.
Hancock said it expects sales in the bank distribution channel to rise by $300 million this year, to about $1 billion. The insurer had $128.2 billion of assets under management at March 31.
