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AnnuitySpecs: FIA Sales Rise Slightly

By Staff Writer

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Sales of fixed indexed annuities amounted to $5.7 billion in the first quarter, up about 0.5% from the total recorded for the first quarter of 2007.

Researchers at AnnuitySpecs, a division of Advantage Group Associates Inc., Pleasant Hill, Iowa, say Aviva USA, Des Moines, Iowa, a unit of Aviva P.L.C., London, ranked first in both the indexed annuity and the indexed life markets.

The indexed annuity survey results include responses from 58 carriers and about 99% of indexed annuity sales.

Results on the indexed life side include all 34 carriers in market, according to AnnuitySpecs.

Indexed life sales increased 18%, to $123 million, the firm reports.

The average face amount for indexed life policies sold in the quarter was $537,827, AnnuitySpecs reports.

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