UJB Financial Corp. and SunAmerica Corp. have scuttled plans to launch a family of proprietary annuities after crossing swords over how to make the products profitable.

The breakup appears to mark the first time a bank and its insurance partner have split since banks began entering the proprietary annuity business two years ago. About a dozen banks have rolled out variable annuities and another 10 or so have announced plans to do so.

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