Single Premium Buy-Out Sales Drop 77% In 1Q, LIMRA SRI Reports

June 11, 2021 by Staff Reports

WINDSOR, Conn., June 10, 2021—Following strong fourth quarter 2020 sales results, U.S. single premium buy-out sales totaled $1 billion in the first quarter, down 77% from first quarter 2020, according to the Secure Retirement Institute U.S. Group Annuity Risk Transfer Sales Survey.

“Pension risk transfer activity slowed significantly in the first quarter, with just 42 single premium buy-out contracts reported, compared with 77 buy-out contracts recorded in first quarter 2020,” said Mark Paracer, assistant research director, SRI. “Despite the sluggish start, we expect volume to pick up as the year unfolds and are projecting PRT sales to be in the $25-$30 billion range.”

Click HERE to read the full story via INN

Originally Posted at InsuranceNewsNet on June 10, 2021 by Staff Reports.