Last year a good year for annuities
February 5, 2014 by David Port
According to the Chinese calendar, 2013 was the Year of the Snake. But the investment and insurance community may well look back on it as the Year of the Annuity.
Fresh sales data from Beacon Research and the Insured Retirement Institute (IRI) document an annuity sales boom, at least through the first three quarters of last year. Industry-wide annuity sales for the third quarter of 2013 reached a two-year high of $57.5 billion, according to IRI, led by fixed annuities, sales of which grew 50 percent from the first quarter to the third quarter of last year, during which they recorded their highest sales levels since 2009. Click here to read…