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Institutional Sales Team Pays Off

INVESCO Funds Group of Denver announced last month that Manulife Financial and Sun Life Financial, both of Toronto, have added INVESCO products to their annuity product lines. Last week, the company announced that several INVESCO sector funds have been added to the product lines of five more insurance companies.

Last June, INVESCO hired Tom Kolbe as vice president and manager of institutional sales, a new position at the company. Kolbe was previously with Protective Life Insurance Company of Birmingham, Ala. At the same time, an institutional sales team was organized to pursue the variable annuity business according to the company. The team now consists of eight people, according to Molly Cisneros, a spokesperson for the company.

The five additional companies using the funds are: Annuity Investors Life Insurance Company of Cincinnati, Ameritas Life Insurance of Lincoln, Neb., American National Insurance Company of Galveston, Texas, First Variable Life Insurance of Oakbrook. Ill. and Conseco of Carmel, Ind.