U.S. variable annuity sales fell to $33.5 billion during the second quarter, down 0.5% from the total for the second quarter of 2004, the National Association for Variable Annuities reports.[@@]
Combined U.S. VA net assets increased to $1.1 trillion at the end of the quarter, from just over $1 trillion a year earlier, according to NAVA, Reston, Va.
Net inflow for the quarter was $5.2 billion, down from $12 billion for the second quarter of 2004.
During the first 6 months of this year, total VA sales fell to $65.1 billion, down from $68.5 billion for the first half of 2004.
First-half net flows fell to $10 billion, from $22 billion, NAVA says.