LIMRA: Q1 a wipeout for annuity sales
May 23, 2013 by Maria Wood
Annuity sales took a steep tumble in the first quarter, according to LIMRA. Even indexed annuities, which have shown strength while other categories sagged, didn’t escape the slump.
When the numbers from 58 companies representing 94 percent of the market were tallied up for the first quarter, total sales reached $51.7 billion, a 6 percent drop from a year ago.
Breaking out by product type, variable annuities (VAs) charted a 4 percent decline in sales in Q1, sliding to a total of $35.5 billion, the sixth consecutive quarter of decreases on a year-over-year basis. Click here to read…
Originally Posted at LIfeHealthPro on May 22, 2013 by Maria Wood.
Categories: Industry Articles
