Fixed-rate deferred annuity sales increased 66 percent in the third quarter of 2013, according to LIMRA Secure Retirement Institute.
Total annuity sales for the quarter increased to $59.4 billion, a 9 percent increase, which is the largest year-over-year growth since the second quarter of 2011, LIMRA found. For the first nine months of the year, total annuity sales were $167.6 billion.
Total fixed annuity sales jumped 31 percent over the third quarter last year to reach $23.5 billion, another achievement that hasn't been seen since the third quarter of 2009, LIMRA said. Year-to-date, fixed annuity sales rose 6 percent to $58 billion.
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