Fewest Open Variable Annuity Contracts Since 1997: Morningstar
April 22, 2019 by Michael Manetta
New sales of variable annuities (VAs) came in at $22.5 billion in the fourth quarter of 2018, a 4.3% decline compared to a year earlier but in line with average quarterly sales figures over the past two years.
Sales of VAs with guaranteed living benefits posted a fifth consecutive quarter of positive year-on-year (y/y) sales growth, versus negative sales growth for VAs without a living benefit in three of the past five quarters (including Q4).
Wink’s Note: Wink shows that there were 21 new structured and variable annuities introduced in 2018, not 13. There are actually only 275 “open” VAs today, not 300.