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 > Fixed Annuities

Bank Annuity Sales Fall Slightly

Your article was successfully shared with the contacts you provided.

Banks sold $3.5 billion worth of annuities in February, down from $3.7 billion in February 2004.[@@]

Fixed annuity sales of $2 billion for the month were down slightly from $2.2 billion a year earlier, while variable annuity sales were even with the $1.5 billion reported a year before, according to Kenneth Kehrer Associates, Princeton, N.J.

Demand for fixed annuities remains strong, according to Brad Powell, president of the institutional marketing group at Jackson National Life Insurance Company, Lansing, Mich., which sponsors the monthly survey.


© 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.