According to a report from LIMRA, sales of indexed annuities reached $32.1 billion in 2010, an increase of 7 percent over 2009.
Variable annuity sales were up last year, too; the Insured Retirement Institute found that the total number of assets placed into variable annuities in 2010 was $1.5 trillion. In the fourth quarter alone, sales improved 18 percent over the fourth quarter of 2009.
For indexed annuities and variable annuities, these numbers are all-time highs, and continue a steady increase from the previous three years.
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Fixed annuities, however, are not fairing as well. Though the product remains a competitive option, sales dropped 31.2 percent in the fourth quarter of 2010 ($71.7 billion) compared to the fourth quarter of 2009 ($104.2 billion).
Last year was the first time ever that indexed annuities outperformed fixed-rate deferred annuities, which generated 40 percent of fixed annuity sales in the fourth quarter.
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