Moody’s Investors Service
Strong variable annuity sales in first half of 2011Posted by RJ and Makay on Aug 22, 2011 |
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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.
Fitch Ratings announced Tuesday that it was keeping the United States’ long-term credit rating at AAA with a stable outlook. Citing the “exceptional creditworthiness” of the U.S., Fitch said it maintained the coveted AAA rating because of the country’s ability, with its broad and diverse economy, to withstand economic shocks. After the announcement, U.S. officials said government leaders must still make progress on cutting budget deficits.
