Wealth management

In Brief: Symetra-IFMG Link Eyes Banco Popular

Published February 21, 2006, 2:00 a.m. EST

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Updated February 17, 2006, 6:24 p.m. EST

1 Min Read

Symetra Life Insurance Co. announced that it had formed a partnership with Independent Financial Marketing Group Inc. to offer Symetra annuities to customers of Banco Popular North America, a Rosemont, Ill., bank.

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Independent Financial's broker-dealer subsidiary is to offer Symetra annuities to customers in Banco Popular branches and through the Purchase, N.Y., third-party marketer's network of financial consultants, Symetra said Thursday. Independent Financial is a subsidiary of Sun Life Financial Inc., a Toronto financial services company that sells savings, retirement, pension, and life and health insurance products.

Banco Popular, a subsidiary of the Puerto Rican bank holding company Popular Inc., is to sell the Bellevue, Wash., insurer's annuities through investment centers in California, Texas, Florida, Illinois, and New Jersey. The bank has $44 billion of assets and 137 branches in six states.

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Wealth management

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