Fixed Annuities Sales Surge in First Quarter: IRI
June 24, 2019 by Elizabeth Festa
Total annuity sales reached $57.8 billion for the first quarter of 2019, a slight dip from the last quarter of 2018, with fixed annuity sales surging from the year-ago quarter, according to the Insured Retirement Institute.
Market volatility late last year and interest rate pressures tell part of the story, according to data researchers.
Industrywide annuity sales rose 17.5% year over year but dipped 3.6% from the fourth quarter, the IRI said Friday, based on data reported by Beacon Research and Morningstar.
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