Fixed annuity sales by banks and other depository institutions increased by 3% from the same period one year ago, according to a new report.
The American Bankers Association, Washington, D.C., published this finding in a summary of results from a Fixed Annuity Premium Study conducted by Beacon Research, Evanston, Ill. The report tracks fixed and variable annuity features, rates and sales.
One-third of the bank channel carriers tracked by Beacon’s study reported increased sales compared to the same period last year, with 52% reporting improved quarter-to-quarter results. Western National maintained its position as the leading bank channel company among study participants.