LIMRA: Annuity sales post another record year in 2023
January 29, 2024 by John Hilton
For the second consecutive year, rising interest rates pushed annuity sales to another all-time record high, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey.
Powered by unprecedented fixed annuity sales, total annuity sales topped $385 billion in 2023, 23% higher than the record set in 2022.
“Economic conditions and growing demand for protected investment growth propelled fixed annuity sales to a remarkable $286.2 billion, a 36% jump from the record sales set in 2022,” said Bryan Hodgens, head of LIMRA research.
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