SAFECO Life & Investments has added a new investment portfolio to its line of variable insurance products. Products affected include SAFECO Life & Investment Spinaker series variable annuities, Safeflex group variable annuities, and Premier Accumulation life variable universal life. The company based the new portfolio selection on the overall financial well being of the investment manager, performance, competitive fees and expenses, portfolio managed tenure, disciplined investment style, and education and training support. The portfolio includes 11 new investment options from four new investment managers.