Well, if you were looking for some good news, you might have found it in a recent annuities report.
The forty-ninth installment of the Advantage Index Sales & Market Report showed that total third quarter sales of indexed annuities reached $7.5 billion, an 11.3 percent jump from the same period last year.
Compared to the previous quarter, sales were down 9.9 percent, but as Sheryl J. Moore, president and CEO of AnnuitySpecs.com, noted, “Sales are always going to decline when coming off a record quarter.
“The big story this quarter is the shake-up in rankings among the indexed annuity carriers. While some companies’ sales are up more than 75 percent, others’ sales are down almost 60 percent. The top ten has never looked quite like this!” Moore is predicting that 2009 will prove to have been record setting.