Although total annuity sales dropped 8 percent in the first three months of 2012 compared with last year, MetLife was the top seller of annuities with $5.5 billion in sales, while Prudential was the top seller of variable annuities with $4.9 billion in sales, followed by Allianz Life of North America, which sold $1.4 billion in fixed annuity sales, according to new data.
LIMRA, previously known as Life Insurance Marketing and Research Association, found that fixed annuities dropped 10 percent in the first quarter to $18 billion compared with variable annuity sales, which dropped seven percent to $36.8 billion.
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