John Hancock Life Insurance Company of Boston has formed three new mutual fund and annuity distribution partnerships, each expected to bring in more than $25 million a year, according to Tim Waterworth, a vice president at John Hancock's financial institutions group.
Although John Hancock has similar partnerships with more than 200 financial institutions, only 10 percent of the partnerships generate $25 million or more a year, Waterworth said.
The new partnerships are with Fifth Third Bank of Cincinnati, which has 150 sales representatives, SouthTrust Securities, a broker/dealer, of Birmingham, Ala., with 125 representatives, and CUSO Financial Services, a third-party marketer, of San Diego, which has 71 representatives.
All three will sell mutual funds and annuities.
