fixed annuities
Strong 2011 annuity sales: LIMRAPosted by RJ and Makay on Feb 17, 2012 |
>> Read More RJ & Makay Blog Posts
Total annuity sales reached $240 billion in 2011, an increase of 8% compared to 2010, according to LIMRA’s fourth quarter 2011 U.S. Individual Annuities Sales survey. After six straight quarters of positive growth when compared to the prior year, fourth quarter 2011 Variable Annuity (VA) sales were flat. Q4 VA sales, at $38.4 billion, were down 4% compared to Q3 2011. Overall 2011 VA sales grew 13% to reach $159.3 billion.
Third-quarter net variable annuity sales were $8.8 billion, the highest level since Q3 2007 sales of $8.9 billion, the Insured Retirement Institute (IRI) announced Tuesday. Variable annuity sales were $39 billion, down 2% from last quarter and up 14% from the year ago period. Year-to-date, total variable annuity sales are over $118 billion, 18% above the 2010 level.
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.
