The implementation of the DOL fiduciary rule's impartial conduct standards last June is clearly weighing on the annuity market, according to the LIMRA Secure Retirement Institute.
Total sales of variable annuities in 2017 dropped below the $100 billion mark for the first time in 20 years, according to LIMRA. Variable annuity sales were $95.6 billion in 2017. In 2011 they topped $158 billion.
Sales for the entire annuity market were $203.5 billion last year, an 8 percent decrease from 2016. Total sales topped $265 billion in 2008.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
