Variable annuity sales dip 9%, marking first time in 20 years that annual VA sales fell below $100 billion. Jackson National Life, New York Life and Allianz Life top sales in variable annuities, fixed annuities and indexed annuities, respectively.
Recent Variable Annuities News
Uncertainty over DOL’s partially implemented rule blamed for 5% decline in fixed indexed annuity sales, the product line’s first annual decline since 2009, according to just released figures from LIMRA’s Secure Retirement Institute.
Voya Financial selling its closed block variable annuity, fixed and fixed indexed annuity businesses
Athene part of a consortium of investors involved, and will take over the significant majority of Voya’s individual fixed and fixed indexed annuity policies in force with approximately $19 billion of account value.
Study finds those who bought annuities designed for accumulation tend to be under 61, while buyers over age 62 tend to purchase annuities designed to create guaranteed income.
As total annuity sales drop 15% in 3Q compared to last year, IRI’s “State of the Industry” identifies and predicts sales trends impacted by uncertainty over the DOL Fiduciary Rule.
Quarterly U.S. annuity sales fell below the $50 billion mark for the first time in 15 years during the third quarter of 2017 according to LIMRA Secure Retirement Institute’s Third Quarter 2017 U.S. Retail Annuity Sales Survey, released on Nov. 29.
While 2017 annuity sales totals are still tracking toward a decline, the Institute has revised its 2018 forecast and now predicts a 5% increase of overall annuity sales next year.
A North Carolina company has entered into an agreement to buy LBL in a deal expected to lead to Lincoln Benefit Life back into selling life insurance and annuity products.
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