Fixed Index Annuity Sales Jumped 20% in 2nd Quarter, 2008
September 8, 2008 by Linda Koco
September 07, 2008 at 04:00 PM
Index annuity sales in the 2nd quarter 2008 jumped 20% over the 1st quarter and 5.55% over the 2nd quarter 2007, according to the Advantage Index Sales & Market Report.
Sales of the fixed version of the product–fixed index annuities–totaled nearly $7 billion for the quarter, according to AnnuitySpecs.com, Pleasant Hill, Iowa, publisher of the report. The average FIA premium was $52,460.
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The report also covers sales of index life policies. In 2Q 2008, these sales reached $130.6 million–up 6.28% from 1Q 2008 and up 12.73% from 2Q 2007. The top 5 index life sellers in 2Q 2008–Aviva, American General, National Life Group, Aegon Companies, and Allianz–took 65.3% market share.
Originally Posted at National Underwriter on September 7th , 2008 by Linda Koco.
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