Sales of fixed indexed annuities rose 13% in the first quarter of 2012, according to a new report.
AnnuitySpecs.com, a unit of Moore Market Intelligence, published this finding in the site’s 59th edition of Indexed Sales & Market Report, which provides sales by product, company, crediting method, index, distribution, surrender charge period and other criteria. Forty-four indexed annuity carriers participated in the report, representing 99% of indexed annuity production.
The report reveals that sales of fixed indexed annuities reached $8.0 billion in the first quarter of 2012, down less than 3% from the previous quarter, but up by more than 13% compared to the same period one year ago.
“It is not surprising that indexed annuity sales are up over 2011, while annuity sales in general are down,” says Moore Market Intelligence President and CEO Sheryl Moore in a prepared statement. “No other lifetime income product is as strategically-positioned to thrive in this low-interest rate environment. In fact, the indexed annuity is well-suited for any market environment.”