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Variable annuity sales rose 19% to $80.7 billion in the six months ended June 30, compared with the first half of 2010, LIMRA said on its website.  In the second quarter, sales rose 16% compared to Q2 2010, reaching $40.9 billion, according to LIMRA’s second-quarter 2011 U.S. Individual Annuities Sales survey.  New York–based MetLife, the largest U.S. life insurer, regained the top spot in variable annuity sales in the first half of this year, leading a group of five firms that dominate this sector of the industry.

“This is definitely the year of the indexed annuity!” said Sheryl J. Moore, President and CEO of AnnuitySpecs.com.  The 52^nd edition of AnnuitySpecs.com’s Indexed Sales and Market Report showcases the news. Forty-three indexed annuity carriers participated in this year’s report, which represents 99% of indexed annuity production.

Total second quarter sales were $8.3 billion, down 0.1% from the same period last year. Compared to the previous quarter, sales were up over 22.8%. Moore maintains that with CD rates being at 1% and fixed annuities crediting a 3.65% on average, it is no surprise that this was the second-highest quarter for indexed annuity sales.  As for the carriers, Allianz Life continues to be number one in the market, with a 19% market share. Maintaining second place is Aviva, with American Equity, Lincoln National and North American Company following, respectively.  Allianz Life has the number one selling indexed annuity for the fifth straight quarter: MasterDex X.