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Bank Annuity Sales Up Modestly In August

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Total bank annuity sales climbed to $3.7 billion in August, up 6% from the total for August 2005, according to Kehrer-LIMRA.

Sales of variable annuities through banks rose to $1.9 billion, from $1.8 billion, and sales of fixed annuities rose to $1.8 billion, from $1.7 billion, Kehrer-LIMRA reports.

Kehrer-LIMRA, a unit of LIMRA International, Windsor, Conn., has based the figures on a survey of a national sample of banks with at least $4 billion in assets. It was sponsored by the institutional marketing group at Jackson National Life Insurance Company, Lansing Mich., a unit of Prudential P.L.C., London.