Insurers filed 162 material changes affecting variable annuity products in
the second quarter, up from 76 changes in the second quarter of
2010, the analysts at Morningstar, Chicago, say in a report distributed by the
Insured Retirement Institute, Washington.

Insurers added 30 new benefits and 44 new products during the latest quarter,
and they made 15 fee changes.

In the second quarter of 2010, insurers added just 7 new benefits and 8 new
products.

But the number of variable annuity contracts closed also increased, rising to
33, from 12. The number of variable benefits eliminated increased to 20, from
10.

– Allison Bell