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LIMRA International.

LIMRA International reported that sales of variable annuities fell 15% in 2008 to $155 billion, compared to 2007's record $184 billion in sales. In the fourth quarter alone, VA sales dropped 30% to $33.6 billion. However, fixed annuity sales jumped 79% in the fourth quarter of the year and 50% for all of 2008, from $72.8 billion in 2007 to $109.4 billion in 2008. The fixed annuity sales kept overall annuity sales in the black, posting a 3% gain for the year. The fixed annuity type seeing the biggest gain was market value-adjusted products, whose sales grew 135% in 2008, to $18.3 billion. Fixed deferred annuities still accounted for the most sales, showing a 58% jump to $95.1 billion in sales.
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Title Annotation:UPGRADES
Publication:Investment Advisor
Date:Jun 1, 2009
Words:126
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