The financial crisis took a toll on the amount of total assets and total sales within the U.S. variable annuity industry. Both figures had significant declines relative to the same period in 2007. That said, combined net assets in variable annuities in the U.S. still exceed $1 trillion, and total sales of variable annuities in the U.S. in 2008 exceeded $150 billion.
Table 2. Variable Annuity Premium Sales(1)
Quarter Ended Year Ended
(Dollars in Millions) 12/31/08 12/31/07 12/31/08 12/31/07
-------- -------- -------- --------Total Sales 33,321 47,829 154,769 182,248
Net Sales 3,428 8,912 23,093 33,383
Source: Morningstar, Inc.
Source: NAVA - the Association for Insured Retirement Solutions
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