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Bank Annuity Sales Level Off In April

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Sales of annuities in banks stayed about even in April with April 2005 levels, despite a 20% decline in sales of fixed annuities.

Sales of fixed annuities fell $2 billion in April, down from $2.5 billion, while sales of variable annuities rose to $1.9 billion, from $1.4 billion.

Combined sales held steady at about $3.9 billion, according to Kenneth Kehrer Associates, Princeton, N.J.

Jackson National Life Insurance Company, Lansing, Mich., sponsors the survey.

Jackson National is a unit of Prudential P.L.C., London.


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