U.S. Individual Annuity Sales on Pace for Record Growth

Total individual annuity sales are on a record setting pace, growing six percent through the first three quarters of 2007 to reach $189.4 billion, according to LIMRA International.

"Current equity market volatility on the variable annuity side and a widening gap between short-term and long-term interest rates on the fixed annuity side make a favorable environment for selling annuities," said Dan Beatrice, analyst for LIMRA's annuity research. "Variable annuity sales are near certain to come in at record levels for 2007, and while fixed annuity sales will likely be down for the year, we anticipate strong fourth quarter sales growth."

U.S. Individual Annuity Sales on Pace for Record Growth
Source: Insurance News Net