N.J. Bankers endorse MDS/Bankmark.

MDS/Bankmark, a leading seller of annuities through banks, has landed an endorsement from the New Jersey Bankers Association.

The association's seal of approval could help the Morris Plains, N.J., company gain entry into more bank branches statewide.

"We are excited about the endorsement and are devoting personnel to following up with the banks," Bankmark's president, Robert C. Leonard, said in an interview.

Bankmark specializes in managing insurance-sales programs in banks, and was the No. 5 seller of annuities through banks in 1992.

The company, a unit of Conseco Inc., Carmel, Ind., already has a strong foothold in the Northeast. Its client list includes National Westminster Bancorp of Jersey City, N.J.; the Bank of Baltimore, and Lincoln Savings Bank and Dime Savings Bank, both of New York.

The New Jersey Bankers Association's 104 member institutions will be able to select a wide range of annuity services from Bankmark, ranging from full-service in-house programs to third-party managed programs, said Bette Crosby, Bankmark spokeswoman.

Through the Bankmark program, banks can choose annuity products from several insurance companies, including American International Group, The Hartford, United States Life, and Western National Life.

Annuities are insurance contracts that invest in an underlying pool of securities to generate a steady stream of income. Earnings aren't taxed until they are tapped, making them a popular investment for retirement planning.

Bankmark is focusing its expansion efforts on the bank channel, Mr. Leonard said. The company, which now sells its products through about 35 financial institutions, ranked fifth last year among companies that sell annuities through banks. In 1992, sales of tax-deferred products brought in $621 million in premiums for the company.

In addition to annuities, the company will also provide mutual funds and other securities products to association members.

"Our approach to clients is to develop services that fit their specific needs," Mr. Leonard said.

The top variable-annuity issuers traded ranks in the first half of 1993, according to The Vards Report, a tracking service in Roswell, Ga. First-place honors went to Hartford Life Insurance Co., which racked up $2.5 billion in sales through June 30. In 1992, Hartford Life placed third among variable-annuity issuers.

TIAA-CREFT fell from first to second place, with $2.4 billion in sales during the same period. Lincoln National Life Insurance Co., which placed second last year, claimed the third spot, with $1.4 billion in sales.

The 10 leading variable-annuity issuers took in 64% of the $19 billion in midyear sales, according to The Vards Report.

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