Through first six months of 2020, total annuity sales were $104.4 billion, 16% lower than prior year, with fixed indexed annuities falling to lowest quarterly total since 2015.
Registered index-linked annuity sales growth the lone bright spot as overall annuity sales decline 24% according to latest Secure Retirement Institute report.
The Secure Retirement Institute (SRI) is forecasting U.S. annuity sales will struggle in 2020, but are expected to rebound in 2021.
Wink’s Sales & Market Report finds total deferred annuity sales only declined slightly in the first quarter of the year in spite of the coronavirus pandemic.
Secure Retirement Institute report also finds registered index-linked annuities break quarterly sales record, topping $5 billion.
IRI calls amendments to streamline and simplify critical disclosures for investors in variable annuity and life insurance products a “major leap forward.”
Fixed indexed annuity sales break all-time record thanks to strong performance in the first half of the year, according to Secure Retirement Institute data.
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%.
Latest annuity sales report from LIMRA Secure Retirement Institute finds FIA sales had highest sales ever during Q2 2019.
Combined sales of fixed and variable annuities totaled $57.8 billion in the first quarter this year, a 17.5% increase compared to 2018.