TUCSON, Ariz. - Last year's down market dampened investment product sales, but the mood was anything but somber as insurance executives gathered here to discuss their variable annuity business through banks.

The executives, attending a conference sponsored by the National Association for Variable Annuities, were told that banks' sales of the tax- deferred investment products were $3.75 billion last year. That's up from $2.82 billion in 1993, when fewer banks were in the business.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.