March 11, 2009 at 08:00 PM
Total bank annuity sales climbed to $5.1 billion in December 2008, up 37% from the December 2007 total.
The volume of fixed annuity sales made by banks tripled to $4.3 billion, up from $1.4 billion, according to Kenneth Kehrer Associates, a unit of LIMRA International, Windsor, Conn.
Bank variable annuity sales fell to $1.1 billion, from $2 billion.
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