Variable annuity net asset values have recovered to pre-financial crisis levels.
Buoyant capital markets over the past several months have resulted in the first increase in variable annuity net asset values in fifteen months.
Gross variable annuity sales in the third quarter of 2009 were $31 billion. Qualified sales were $20.8 billion while non-qualified sales were $10.2 billion.
Net sales of variable annuities in the third quarter were only $2.8 billion, which begs the question of why there were presumably $28.2 billion in Section 1035 Exchages in a rather difficult pricing environment.
Source: Insurance and Financial Advisor
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