Sales of annuities declined in the first quarter, according to the latest annuities sales survey released Wednesday by LIMRA, an industry-funded research group.
Annuity providers generated $51.7 billion in first-quarter annuity sales, down 6% from a year earlier. Sales of variable annuities declined 4% year-over-over to $35.5 billion, while fixed annuities fell 11% to 16.2 billion. The sales figures mark the sixth consecutive quarter of declines for variable annuities and the eighth consecutive quarter of declines for fixed annuities, according to LIMRA.
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