ING Relaunches Aetna Variable Annuity; Product To Be Sold Under New Name - ING SmartDesign Variable Annuity
PRNewswire
WEST CHESTER, Pa.
Jul 16, 2001
ING Variable Annuities, the variable annuity marketers of Atlanta-based ING Americas and the third largest marketer of variable annuities in the financial services industry, today announced that it has launched a new variable annuity based on a design it obtained when ING acquired Aetna Financial Services in December 2000.
Formerly known as the Aetna Variable Annuity, the new product will now be known as the ING SmartDesign Variable Annuity. In addition to the new name, the ING SmartDesign Variable Annuity has expanded its investment sub-accounts. This is the first in a series of products to be developed under the ING SmartDesign name. The ING SmartDesign product line will have a separate wholesaling team from the current ING GoldenSelect wholesaling team. The ING GoldenSelect line of variable annuities remains unchanged.
"Launching the ING SmartDesign Variable Annuity is part of ING's efforts to maximize the synergies throughout its retail organization," said Keith Gubbay, president and CEO, Investment Products Distribution, ING Variable Annuities. "Our ING SmartDesign and ING GoldenSelect are distinct, yet complementary product lines, and help us attract a broad cross-section of registered representatives and financial advisors. The product lines will have unique value propositions and serve the retirement planning needs of different customer segments."
The investment options in the ING SmartDesign Variable Annuity include portfolios managed by Fidelity Management; Janus Capital Corp.; Massachusetts Financial Services (MFS); Alliance Capital Management, L.P.; Eagle Asset Management, Inc.; ING Investment Management, LLC; ING Pilgrim Investments, LLC; INVESCO Funds Group, Inc.; Pioneer Investment Management, Inc.; Jennison Associates, LLC; Putnam Investment Management, LLC; Brinson Advisors, Inc.; and Pacific Investment Management Company (PIMCO).
"The new investment options add breadth and depth to the ING SmartDesign Variable Annuity and enhance the attractiveness and flexibility of the product," said Jim McInnis, president, Sales, ING Variable Annuities. "Our objective is to manufacture products that are focused on customers' needs for achieving their financial goals for retirement. With ING SmartDesign and ING GoldenSelect, we have investment products for any consumer that a registered representative or financial advisor may encounter."
ING SmartDesign Variable Annuity is underwritten by Golden American Life Insurance Company and distributed by Directed Services, Inc., member NASD.
ING Americas comprises integrated financial services operations in North America and South America with business operations in the U.S., Canada, Mexico, Argentina, Brazil, Chile, Colombia, Peru, the Netherlands Antilles, as well as reinsurance operations in Bermuda, and Ireland. ING Americas offers a comprehensive array of products and services, including life, health and property & casualty insurance; fixed and variable annuities; reinsurance; guaranteed investment contracts and other institutional investment advisory services; defined contribution plans; and mutual funds. To date, ING Americas and its affiliates have $163 billion in assets under management. ING Americas' parent company, Amsterdam-based ING Group (NYSE: ING), is one of the largest integrated financial services organizations in the world with $453 billion of assets under management.
SOURCE: ING Americas
Contact: Dana E. Ripley of ING Americas, +1-770-980-3317, or cellular,
+1-404-202-6679
Website: http://www.ing-usa.com/