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New VA sales see double-digit increase in 2010

According to the Insured Retirement Institute, sales of new variable annuities increased at a double-digit rate in 2010.

By Heather Trese | Updated on May 12, 2011

According to a new report from the Insured Retirement Institute (IRI), there was a 10.3 percent increase in new variable annuity sales in 2010. 

New sales in the year totaled $136.6 billion, compared to $123.9 billion in 2009. With total assets at an all-time high of $1.5 trillion, IRI reports that the variable annuity industry has surpassed the pre-crisis level of the third quarter of 2007.

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