Sales of all fixed annuities dipped 3.1 percent in third quarter, according to a new report.
Beacon Research, Evanston, Ill., published this finding in the latest edition of its “Fixed Annuity Premium Study.” The report tracks and analyzes fixed annuity sales on an ongoing basis.
Fixed annuity sales totaled $16.6 billion in the third quarter of 2012, down from $17.1 billion recorded in the second quarter of this year. Compared to the third quarter of 2011, fixed annuity sales were down 12.8 percent, declining to $16.6 billion from $19 billion.
However, indexed annuity sales edge up 0.5 percent over the year-ago period, rising to $8.74 billion in the third quarter from $8.69 billion in the third quarter of 2011.
What Your Peers Are Reading
Income annuities also enjoyed a year-over-year gain attaining $2.374 billion in sales in third quarter of 2012, up from $2.226 billion for the year-ago period, a 6.7 percent rise.
Income annuity sales for the third quarter also were 3.8 percent higher than in the second quarter: $2.374 billion versus $2.287 billion, respectively.