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AnnuityNet Handles 165,000 Transactions

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NU Online News Service, Jan. 22, 9:41 a.m. – AnnuityNet Inc., Herndon, Va., says it processed about 165,000 annuity transactions in 2002.

The transactions included new sales of fixed and variable annuity products, 1035 exchanges and subaccount transfers within variable annuities.

AnnuityNet runs a system that links retail annuity distributors with the insurers that write the annuities. The company says it will add 10 new annuity issuers and “dozens” of distributors by June 30.