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Total US annuity sales were $56.5bn in the second quarter—9% higher than the first quarter of 2013 but 1% below 2012 results, according to LIMRA's second quarter 2013 US Individual Annuities Sales survey, which represents data from 95% of the market. “This quarter’s results are encouraging for the annuity industry—every product line improved from the first quarter of 2013,” said Joseph Montminy, AVP, LIMRA Annuity Research. “Observing the economic improvements, including interest rate increases, we believe variable annuity sales have stabilized while fixed annuity sales will continue to improve for the remainder of the year.” In the first six months of 2013, total annuity sales were down 4% to $108.2bn. |
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