NU Online News Service, May 28, 2004, 2:44 p.m. EDT – U.S. variable annuity net assets soared to $1 trillion at the end of the first quarter, up 28% from $801 billion a year earlier.[@@]

Total variable annuity premium flow, or total sales, increased 16%, to $34.7 billion, and net flow also increased 16%, to $9.6 billion, according to the National Association for Variable Annuities, Reston, Va.