Data from Beacon Research and Morningstar, Inc. is in and Q3 2014 news on annuity sales is not all peaches and cream. Total annuity sales hit 56.9 billion, a five percent decline from the previous quarter and a one percent drop from the same period a year ago.
According to a report released by the Insured Retirement Insititute (IRI), “variable annuity sales were flat in the third quarter of 2014, coming in at $35.2 billion. This was a 1.1 percent decrease from $35.6 billion in the second quarter of 2014, but a 0.4 percent increase from nearly $35.1 billion in the third quarter of 2013.”
For fixed annuity sales there was a classic case of huge increases finally leveling off. After rising to its highest levels in five years, FA sales plummetted 10.7 percent from the previous quarter and dipped 3.5 percent from Q3 2013.