The product, called the MONY Variable Annuity, will now include the INVESCO Financial Services, Health Sciences and Telecommunications VIFs among its other offerings. The product will be distributed through MONY Life Insurance Company, a member of the MONY Group. The parent firm oversees $55 billion in assets and offers mutual funds, annuities, life insurance and financial services.
Having the products picked up by MONY was a boost for INVESCO, which has been trying to step up its variable annuity business. INVESCO said it recently assigned a sales team to bolster its share of the annuity market. The team is tasked with maintaining current accounts and garnering new ones in the sub-advisory and insurance trust channels.