2Q Annuity Sales Tumble Amid Economic Fallout From COVID-19
July 29, 2020 by Staff Reports
Total annuity sales were $48.8 billion in the second quarter, down 24% from second quarter 2019, according to preliminary results from the Secure Retirement Institute annuity sales survey.
“The second quarter annuity sales decline is a direct result of the global pandemic and its economic fallout. In addition to the record-low interest rates and continued market volatility, social distancing has significantly disrupted business operations for companies and advisors over the past three months,” said Todd Giesing, senior annuity research director, SRI.
Wink’s Note: Wink’s Sales & Market Report’s 2nd Quarter, 2020 sales will be published mid-August. Email firstname.lastname@example.org for updates.