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VA Gains Push Up Annuity Sales

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U.S. sales of individual annuity rose to about $65 billion in the second quarter, up 6% from the total for the second quarter of 2006.

Researchers at LIMRA International, Windsor, Conn., have reported those figures in the latest annuity sales and assets report.

Fixed annuity sales fell 10% during the first half, to $18 billion, but variable annuity sales increased 13%, to about $48 billion.

Financial planners and independent broker-dealers made up the leading channel for variable annuities.

Independent agents were the largest sellers of fixed annuities, LIMRA says.

Indexed annuity sales fell 2%, to $6.4 billion, but indexed annuity assets increased 5.5%, to $115 billion. The percentage increase for indexed annuity assets was larger than that for any other product category included in the quarterly annuity update, LIMRA reports.


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