Fixed annuity sales fell 7% in the third quarter to $19 billion, according to Beacon Research’s Fixed Annuity Premium Study. For the year to date, sales fell slightly less than 1% to $58.3 billion.
Beacon divides the fixed-income universe into four segments: Fixed-rate MVAs, Fixed-rate non-MVAs, Indexed and Income. They had varying degrees of success for the quarter and for the year. For the year-to-date, the biggest decrease came from fixed-rate MVAs, which declined 15%. The biggest increase came from Income annuities, up 3.2%. And for the third quarter, fixed-rate MVAs fell 33%, while Income annuities were up 5.4%.
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