Indexed Annuities Break Quarterly And Annual Sales Records
February 23, 2016 by LIMRA
WINDSOR, Conn., Feb. 23, 2016—Breaking previous quarterly sales records, indexed annuity sales totaled $16.1 billion in the fourth quarter, 32 percent higher than prior year, according to LIMRA Secure Retirement Institute’s fourth quarter U.S. Individual Annuities Sales Survey.
In 2015, indexed sales reached a record-breaking $54.5 billion – an increase of 13 percent from 2014.
“Indexed annuity sales have experienced eight consecutive years of positive growth,” noted Todd Giesing, assistant research director, LIMRA Secure Retirement Research. “The growth was driven by many companies, rather than just the top players as we have seen in the past. We also are seeing some companies who have traditionally been strong in the variable annuity market, focusing more attention on the indexed annuity market.”
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Wink’s Sales & Market Report 4th Quarter, 2015 and year-end sales will be released mid-March due to insurers’ year-end earnings calls.