Fact of the Day
LIMRA Secure Retirement Institute estimates that U.S. annuity sales declined 17.0% year-over-year to $51.0 billion in Q4'16, according to its own data release. It was the weakest quarter for sales since Q1'02. In 2016, total annuity sales declined 6.0% (y-o-y) to $222.1 billion. Variable annuity (VA) sales totaled $25.3 billion in Q4'16, down 20% (y-o-y). In 2016, total VA sales declined 21.0% (y-o-y) to $104.7 billion. Fixed annuity (FA) sales totaled $25.7 billion in Q4'16, down 13.0% (y-o-y). In 2016, however, FA sales reached a record high $117.4 billion, topping the previous high set in 2009 by nearly $7.0 billion.
Source: First Trust