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June 07, 2007 at 11:07 AM
Total deferred annuity assets grew 1.2% during the first quarter, to almost $1.97 trillion, according to LIMRA International.
Indexed annuity assets climbed 5.9%, to $109.1 billion, while variable annuity assets rose 2%, to $1.4 trillion. Fixed-rate annuity assets fell 2.3%, to $450.5 billion, according to LIMRA, Windsor, Conn.
Investment earnings amounted to 1.7% for variable annuities, 1% for fixed annuities and just 0.8% for indexed annuities.
Total individual annuity sales amounted to about $58 billion, up 2% from the total for the first quarter of 2006.
Sales of variable annuities rose 8%, to $42 billion, and sales of fixed annuities fell 12%, to less than $16 billion. Sales of fixed annuities suffered from the effects of a difficult interest rate environment, according to LIMRA.
The LIMRA fixed annuity category includes fixed deferred annuities, including both fixed-rate and indexed annuities, as well as immediate annuities and structured settlements.
