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June 17, 2002 at 08:00 PM
NU Online News Service, June 17, 4:55 p.m. – Bank sales of fixed annuity increased to $3.3 billion in April, up 76% from April 2001, according to a survey by Kenneth Kehrer Associates, Princeton, N.J.
Jackson National, a unit of Prudential P.L.C., London, sponsored the survey.
Bank sales of variable annuities amounted to $1 billion, up only 5% from April 2001. But even that modest increase indicates a recovery from a severe sales slump that lasted from April 2001 to February 2002, researchers say.
