Beacon: fixed annuity sales decline in third quarter

However, sales of fixed rate non-market value adjusted (MVA) annuities in the third quarter ($4.434 billion) are down both compared to the second quarter ($4.783 billion) and the year-ago quarter ($6.27 billion).

Likewise, sales of fixed rate MVA products also dipped 13.9 percent during the third quarter, reaching $1.025 billion, compared to $1.191 billion in the second quarter. Compared to the third quarter of 2011, when fixed rate MVA sales totaled $1.46 billion, sales are down 29.8 percent.

For the year, fixed annuity sales in 2012 totaled $50.61 billion, off 13.1 percent from the $58.24 billion recorded in 2011.

However fixed indexed and income annuities sales both rose for the year.

Indexed annuity sales increased to $25.746 billion from $24.626 billion, up 4.5 percent. And income annuity sales rose to $6.816 billion from $6.259 billion, an 8.9 percent rise.

By carrier, Allianz was the top seller with $1.3 billion in fixed annuity sales. Aviva USA, New York Life, Security Benefit Life and American Equity took the second through fifth place positions, garnering $1.064 billion, $1.061 billion, $1.034 billion and $982 million in fixed annuity sales, respectively.