Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Annuities > Variable Annuities

NAVA: Net Flow Of Cash Into Variable Annuities Climbs 88%

Your article was successfully shared with the contacts you provided.

NU Online News Service, Aug. 20, 2003, 5:22 p.m. EDT – U.S. variable annuities attracted $33 billion in premiums during the second quarter, up from $29 billion in premiums during the second quarter of 2002, according to the National Association for Variable Annuities, Reston, Va.

Because withdrawals slowed even more than deposits increased, the net flow of cash into variable annuities climbed 88%, to $12 billion.

Total VA net assets reached $880 billion at the end of the quarter, up from $831 billion a year earlier.

NAVA figures show that consumers who put money in variable annuities are being a little more aggressive. The percentage of VA assets parked in fixed accounts fell to 29% at the end of June, down from 31% at the end of the first quarter. The percentage in stock accounts increased to 47%, from 46%.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.