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Index Annuities Hit New Sales Record In The First Quarter

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Index Annuities Hit New Sales Record In First Quarter

Index annuity sales hit $4.175 billion in the first quarter of 2004, according to Advantage Compendium, a St. Louis-based research-consulting firm.

That figure marks a new quarterly sales record for index annuities. It is 12% higher than the previous record set in the fourth quarter of 2003 and up 28% from index annuity sales reported in the first quarter of 2003.

The top 5 carriers for the first quarter of 2004 were Allianz with more than $1 billion of sales, followed by Fidelity & Guaranty, Sun (Keyport) Life, AmerUs Group and ING.

The results are published in the Advantage Equity Index Sales & Market Report.

Reproduced from National Underwriter Edition, May 21, 2004. Copyright 2004 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.