New LIMRA Secure Retirement Institute report shows increase bumped by spike in fixed indexed annuity sales.
Just as LIMRA also reported this week that FIAs had their highest sales quarter ever, Wink’s Sales & Market Report says Q2 2019 sales bested previous record by 3%.
Under the new plan, effective September 15, the company will no longer accept applications for annuities or new retirement plans, while continuing to service and support existing clients in both businesses. As a result of this decision, the company will reduce its workforce by approximately 300 positions.
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The Securities and Exchange Commission’s recent introduction of a proposal that would modernize the process of disclosing information about variable annuities was met with cries of “it’s about time” from annuity industry advocates.
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Year-to-date, Fixed Indexed Annuity sales are 22% higher than the first three quarters of 2017. Variable annuity sales continue to rebound, increasing 25% from prior year according to 3Q sales report from LIMRA Secure Retirement Institute.
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.
Total annuity sales have best quarter in a decade, led by fixed annuity sales hitting all-time high, LIMRA Secure Retirement Institute reports.
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.