Total annuity sales up in first quarter
May 21, 2014 by Daniel Williams
Total annuity sales improved 11 percent in the first quarter of 2014, compared to the first quarter of 2013, totaling $57.7 billion according to the LIMRA Secure Retirement Institute (LIMRA SRI).
Annuity sales were driven largely by fixed annuity sales, which experienced a 43 percent increase in the first quarter, compared to prior year, reaching $23.5 billion.
“Despite recent declines in interest rates – falling from just over 3 percent at the end of 2013 to 2.7 percent at the end of the first quarter- we are still predicting approximately 10 percent growth for fixed annuities in 2014,” said Todd Giesing, senior analyst, LIMRA SRI Annuity Research.
Originally Posted at LifeHealthPro on May 21, 2014 by Daniel Williams.
Categories: Industry Articles
