It seems five quarters of decline in variable annuities compared to other years may finally be turning around. The Insured Retirement Institute announced today that the net assets of U.S. variable annuities posted an increase of 1.2 percent in year-to-year quarter comparisons. The last increase, in March 2008, was 1 percent. Total net assets topped $1.3 trillion.
Sales decreased slightly in the third quarter from $31.8 billion to $31 billion. Still, Cathy Weatherford, president and CEO of IRI, is optimistic.