U.S. sales of fixed annuities fell to about $16.4 billion in second quarter, down 9.2% from the total for the second quarter of 2006, according to Beacon Research Inc.
Researchers at Beacon, Evanston, Ill., have published those figures in a summary of results from a quarterly survey of 49 insurance companies.
Second-quarter results included figures for 239 products.
Second-quarter sales of indexed annuities amounted to $6.4 billion, up 1.6% from the total for the second quarter of 2006.
Sales of market-value-adjusted annuities fell 11%, to about $2 billion; and sales of immediate annuities rose 24%, to $1.8 billion.
Although FA sales were down when compared with the second quarter of 2006, stock market turmoil and an improved interest climate helped insurers increase FA sales over the levels reported for the first quarter of 2007, Beacon researchers report.