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Fixed annuities outsold variable annuities for the second quarter in a row, according to LIMRA’s U.S. Individual Annuities First Quarter Sales Report. It’s only the second time fixed annuities have done this. The first time was during the first half of 1995.
Brokers across all channels sold a total $35.6 billion in fixed annuities in the first quarter; they sold $30.7 billion in variable annuities over the same period. Fixed annuities’ success meant sales of individual annuities rose 6%, to $66 billion in the first quarter. Variable annuities saw their fourth consecutive drop in sales, dropping 27% compared to the first quarter 2008.
