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Bank Annuity Sales Climbed In July

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Strong fixed annuity sales helped increase bank annuity sales to $4.5 billion in July 2008, up 32% from the total recorded in July 2007.

Fixed annuity sales increased to $2.8 billion, from $1.3 billion, as variable annuity sales fell to $1.7 billion, from $2.1 billion, according to Kehrer-LIMRA Inc., a unit of LIMRA International, Windsor, Conn.

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