Minnesota Life launches wholesale initiative

<p>ST. PAUL, Minn. -Minnesota Life Insurance Company, an affiliate of Securian Financial Network, has launched a major wholesaling initiative to expand annuity distribution and sales. “Annuities are a scale and risk management business,” said Kerry Geurkink, director, Annuity Marketing. “Minnesota Life very much understands the risk management side. We currently are recruiting a team of wholesalers who will help us increase our scale by expanding our distribution system.” Minnesota Life has relied on a nationwide network of more than 1,000 financial advisors to distribute its products. The network was branded in May as Securian Financial Network. According to Geurkink, the evolution in the financial services industry away from exclusive access to products means that advisors in the Securian Financial Network sell products from other manufacturers and Minnesota Life will distribute its products through additional outlets. Minnesota Life plans to have a wholesaling team of twenty Professionals-ten internal and ten external-in place by the end of 2003, with a goal of selling $1 billion in annuities in 2005.</p>