First Chicago NBD Corp.'s first proprietary fixed annuity made up 50% of the $8 million of fixed annuities sold by the banking company last month.

Pegasus Flex-Choice Annuity, underwritten by Western National Life Insurance Co. and managed by First Chicago NBD Investment Management Co., offers a 7% rate on a five-year annuity and 7.25% on a seven-year product. Flex-Choice, First Chicago's first proprietary annuity, was launched Dec. 1.

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