LIMRA: Variable Annuity Sales Climb in Second Quarter 2011
August 19, 2011 by Allison Bell
Total U.S. individual variable annuity (VA) sales
climbed to $41 billion during the second quarter, up 16% from the total for the
second quarter of 2010, according to LIMRA.LIMRA, Windsor, Conn., says the 58 insurers that participated
in its second-quarter annuity sales survey reported that the amount of assets in
fixed options within variable annuities grew 5%.The amount of assets in variable options within variable
annuities grew 20%.
Sales of fixed annuities fell 1%, to $21.5 billion.
Sales of indexed annuities fell 1%, to $8.1 billion.
“Recent market volatility will certainly affect third quarter
VA sales but consumer demand for guaranteed income protection will continue to
drive sales of VAs with guaranteed living benefit (GLB) riders,” says Joseph
Montminy, a LIMRA analyst.
– Allison Bell