Sales of variable annuities jumped 16 percent in the second quarter, according to research organization LIMRA and its 2011 U.S. Individual Annuities Sales survey.
Total annuity sales hit $62.4 billion in the second quarter, an increase of 9 percent over last year.
Year-to-date, annuity sales reached $122.4 billion, improving 13 percent from the first six months of 2010. For the fifth quarter in a row, VA sales have improved, boosting overall annuity sales.
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