BBVA Compass has partnered Western National Life Insurance Company to launch a Asset Builder Annuity, a new flexible-premium, tax-deferred fixed annuity offered through BBVA Compass Insurance Agency.
The new annuity product is issued, guaranteed and has been cobranded with Western National Insurance Company.
BBVA retail banking senior executive vice president and head Shelaghmichael Brown said that the new Asset Builder Annuity may address the need for many customers, while also allowing the company to build its brand.
“In addition, Western National has engaged BBVA Compass Wealth Management to manage a portion of Western National’s assets tied to this product,” Brown said.
BBVA Compass is a subsidiary of Compass Bancshares, a wholly owned subsidiary of BBVA.