Sales of deferred annuities during the first quarter were up 6.8% to $84.7 billion from the fourth quarter and 41.9% when compared to the same period last year.
This is according to Wink Inc.'s first-quarter annuity sales report which includes participation from 104 annuity providers. The category includes variable annuity, structured annuity, indexed annuity, traditional fixed annuity and multi-year guaranteed annuity (MYGA) products.
Sales of non-variable deferred annuities – including indexed annuities, traditional fixed annuities and MYGAs – were $62.9 billion during the first quarter, up 8.7% compared to the previous quarter and up 98.2% year over year. Meanwhile, sales of variable deferred annuities – including structured annuities and variable annuities – were $21.8 billion, up 1.6% from the previous quarter but down 22% compared with last year.
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