Sales of individual annuities in the United States decreased for the third straight quarter.
Total individual annuity sales for the first nine months of 2009 were $181.6 billion.
Fixed annuity sales continued to decline at a rate of 19% compared to the same period the previous year.
Variable annuity sales were hurt by a significant downturn in Section 1035 exchanges as carriers have been scaling-back on product features while increasing prices.
Source: Wall Street Journal
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Anonymous replied on Permalink
Total Annuity Sales
Does the $181 billion figure include all types of annuity sales in the United States?
tom replied on Permalink
Total U.S. annuity sales
Yes, pretty sure the $181b figure includes all annuity types--variable, fixed, fixed indexed, etc.
Also fairly certain that the figure is for "gross sales" which would include dollar amounts through 1035 exchanges, etc.
While 1035 exchanges have been hammered by less attractive variable annuity prices/features, the net annuity sales figures are typically significantly less than gross sales.