Annuity sales fall 7%

Sales of variable annuities fell by 7 per cent in the second quarter, according to research from WatsonWyatt.

However, second quarter sales matched those achieved in the final quarter of 2008, Watson Wyatt said... "There were a number of developments during the period including re-pricing exercises and product redesigns to allow for the increased costs of guarantees as well as the withdrawal of one of the leading product providers, the Hartford..."

FT Adviser: Annuity sales fall 7%