U.S. sales of fixed annuities fell to about $22 billion in the third quarter, down 21% from the total for the third quarter of 2008.
Beacon Research, Evanston, Ill., has reported those figures in a summary of results from a survey of FA issuers.
Although FA sales were down in the third quarter, sales for the first three quarters totaled $84.5 billion, up 16% from the total for the first three quarters of 2008.
Sales of indexed annuities increased to $7.3 billion in the third quarter, up 6% from the total for the third quarter of 2008.
When compared with results for the third quarter of 2008, sales for the latest quarter were down 37% for market-value-adjusted annuities, 30% for book value annuities and 16% for income annuities.
CORRECTION: An earlier version of this article described the third-quarter performance of indexed annuities incorrectly.