Total annuity sales in 2011 ticked up 8 percent to reach $240.3 billion, according to LIMRA's fourth quarter 2011 U.S. Individual Annuities Sales survey, which represents data from 94 percent of the market.
"While we saw significant growth in the first half of 2011, third and fourth quarter annuity sales fell quarter-over-quarter, tempering the double-digit growth seen at the mid-year mark," said Joseph Montminy, LIMRA assistant vice president, annuity research. "In this economic environment, VA companies are carefully managing the risks associated with their guaranteed living benefit riders, which has had an impact on overall sales trends."
In the fourth quarter, total annuity sales dropped slightly to $57.4 billion.
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:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 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.
