An increase in fixed annuity volume helped banks increase sales of annuities to $4.7 billion in February, up 68% from the February 2007 total.
Sales of fixed annuities in banks jumped to $2.7 billion, from $1 billion, according to Kehrer-LIMRA, a division of LIMRA International, Windsor, Conn.
Sales of variable annuities in banks increased 6%, to $1.9 billion.