In May 1954, University of Arkansas Finance Professor Harold A. Dulan, with UA Law Professor E.J. Ball and UA master of business administration graduate Lewis Callison, created the nation's first commercial variable annuity life insurance company. In November 1954, the Participating Annuity Life Insurance Company sold the first commercial variable annuity ever offered to the U.S. public. This pioneer company was later bought by Aetna. Today, variable annuities are used world-wide in estate planning for participation in economic growth and as a hedge against inflation.
This marker is located at the east entrance of the Business Building.
Year Placed: 1999