Kehrer-LIMRA: Bank Annuity Sales Figures Mixed

February 8, 2011 by Trevor Thomas

Published 2/4/2011 

Banks sold $2.7 billion in annuities in December 2010, down from $2.9 billion in December 2009, according to Kehrer-LIMRA.  Sales of fixed annuities fell to $1.1 billion, from $1.6 billion, but sales of variable annuities increased to $1.6 billion, from $1.3 billion.

Banks have been selling more variable annuities than fixed annuities since September 2010, says Kehrer-LIMRA, Windsor, Conn.

The December 2010 sales ratio was $1.48 in variable annuities sold for every $1 in fixed annuities sold.

– Trevor Thomas

Originally Posted at National Underwriter on February 4, 2011 by Trevor Thomas.