BBVA Compass Announces Strategic Alliance With Western National to Launch Branded Annuity

BBVA Compass announced the launch of the BBVA Compass Asset Builder Annuity, a flexible-premium, tax-deferred fixed annuity offered exclusively through BBVA Compass Insurance Agency, Inc. The Asset Builder Annuity is issued and guaranteed by fixed annuity leader Western National Life Insurance Company(1). For the first time, BBVA Compass has both cobranded an annuity product and also been engaged to manage a portion of the assets for the underwriting insurance company.

"Customers approaching retirement are seeking smart options for their money," said Shelaghmichael Brown, senior executive vice president and head of Retail Banking. "The BBVA Compass Asset Builder Annuity may address that need for many customers, while also allowing us to build our brand. In addition, Western National has engaged BBVA Compass Wealth Management to manage a portion of Western National's assets tied to this product. As a result, BBVA Compass and Western National are closely allied in this effort to offer BBVA Compass clients access to a quality financial alternative, and we have great motivation in ensuring the product's success."

The BBVA Compass Asset Builder Annuity has been cobranded with Western National Life Insurance Company. Western National is a pioneer in developing fixed annuity products specifically for sale through banks, and is the number one provider of fixed annuities through banks.

"Our strategic alliance with Western National for this product is an important venture," said Bill Helms, senior executive vice president and head of Wealth Management. "Western National was one of the first insurance companies to develop fixed annuity products specifically for sale through banks, and has been the nation's number one provider of tax-deferred fixed annuities in this market for 14 consecutive years(2). We also share a common commitment to focus on the client by delivering innovative products that can be customized to help the client meet their financial goals."

To learn more about the BBVA Compass Asset Builder Annuity and the bank's additional proprietary investment offerings, customers may stop by a local branch, call 1-800-COMPASS or visit www.bbvacompass.com.