Annuity sales dipped 4.3 percent in the third quarter,
The Insured Retirement Institute (IRI), Washington, D.C., today published this finding on Monday from an annuity industry sales survey based on data reported by Morningstar, Inc. and Beacon Research.
Industry-wide annuity sales for the third quarter reached nearly $52.9 billion, down from $55.3 billion in the previous quarter.
However, income annuity sales increased to nearly $2.4 billion in the third quarter, up 3.8 percent from about $2.3 billion in the second quarter. Income annuity sales were also up 6.7 percent year-over-year from $2.2 billion in the third quarter of 2011.
What Your Peers Are Reading
Indexed annuity sales totaled $8.7 billion, down just 1.2 percent from $8.8 billion in the second quarter and up 0.5 percent year over year from just under $8.7 billion in the third quarter of 2011, the report reveals.