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Total VA Sales Increase 1.5%

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NU Online News Service, Aug. 27, 2004, 5:48 p.m. EDT

Total variable annuity premium flow flattened out in the second quarter.[@@]

Total flow, or total sales, increased to $33.4 billion in the latest quarter, up 1.5% from the total for the second quarter of 2003, according to the National Association for Variable Annuities, Reston, Va.

But net VA premium flow increased 4.6%, to $12.5 billion, and strong sales earlier in the year helped increase the VA asset total to $1 trillion at the end of the quarter, up from $886 million a year earlier.