Nationwide Life Insurance Co. has quickly emerged as the one of the two largest sellers of variable annuities in the bank market place.

Over the past 15 months, the Columbus, Ohio-based company has developed alliances with about 100 banks, including Wells Fargo & Co., Wachovia Corp. Fleet Financial Group Inc., and Bank of Boston Corp., according to Duane Meek, president of the Nationwide unit that sells through financial institutions.

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