IRI Finds 15% Drop in Q3 Annuity Sales
December 11, 2017 by Allison Bell
The Insured Retirement Institute says it’s seeing the same slump in U.S. individual annuity sales that two other insurance industry organizations have detected.
Revenue from new U.S. sales of individual annuities fell to $44 billion in the third quarter, down 15% from the total for the third quarter of 2016, according to IRI.
The Washington-based group gets its non-variable annuity data from Beacon Research and its variable annuity data from Morningstar.
Wink estimated, based on its own insurer survey, that non-variable annuity sales were down 11%.