U.S. individual annuity sales were 10% higher in the second quarter than they were in the second quarter of 2010, according to the Insured Retirement Institute (IRI).
IRI, Washington, has published that figure in a report based on data from Beacon Research Publications Inc., Evanston, Ill., and Morningstar Inc., Chicago.
Total individual annuity sales increased to $60 billion, from $55 billion, IRI says.
Fixed annuity sales (FA) held steady at about $20 billion.
Indexed annuity sales fell 2.4%, to $8.4 billion.
Variable annuity (VA) sales fell 16%, to $40 billion.