Financial institutions reported that they generated $9.7 billion in individual annuity sales from April through June.
That total is 9.3% lower than the comparable total for the second quarter of 2016.
But the year-over-year decrease for the second quarter is much smaller than the decrease for the first quarter: Financial institution annuity sales for the first quarter of 2017 were 15% lower than sales for the first quarter of 2016.
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LIMRA is nonprofit insurance market research consortium.