The traditional gap between sales of fixed annuities and variable annuities through banks narrowed toward the end of 2004.[@@]
Sales of fixed annuities in banks slid to $1.9 billion in December 2004, down from $2.4 billion in December 2003, but bank VA sales climbed to $1.6 billion, from $1.4 billion.
Kenneth Kehrer Associates, Princeton, N.J., published those figures in the latest report in a series of monthly reports sponsored by the institutional marketing group at Jackson National Life Insurance Company, a unit of Prudential P.L.C., London.
Total bank annuity sales fell 7% between December 2003 and December 2004, to $3.5 billion.