U.S. annuity sales in the first quarter of 2012 dropped 2.5 percent from the previous quarter.
Sales topped $53.1 billion compared to sales of $54.5 billion during the previous quarter, according to The Insured Retirement Institute, which based its research on data provided by Morningstar Inc. and Beacon Research.
Variable annuity sales were down 2.7 percent to $36.2 billion from $37.2 billion in the fourth quarter of 2011, according to Morningstar. Despite the dip, variable annuities net assets reached an all-time high of $1.61 trillion during the first quarter, a 7.2 percent increase from $1.5 trillion during the fourth quarter of 2011.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
