Annuity sellers jockey for position in a record-breaking 1Q, LIMRA reports

May 24, 2023 by John Hilton

The income annuity market saw its highest quarterly sales ever, topping $4.2 billion in the first quarter 2023. Single-premium immediate annuity sales more than doubled (127%) in the first quarter to $3.3 billion. The majority of the SPIA sales growth came from independent and full-service broker-dealers, whose sales increased 352% and 209%, respectively. Deferred-income annuity sales surged 127% to $830 million in the first quarter.

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Wink’s Note: View Wink’s Sales & Market Report, 1st Quarter,2023 HERE for sales of all deferred annuities.

Originally Posted at InsuranceNewsNet on May 23, 2023 by John Hilton.