U.S. retirement savers continued to pour cash into individual annuities in the first quarter.
Overall sales amounted to $98 billion, down 5.7% from the total for the first quarter of 2024, according to issuer survey data compiled by Wink.
But 2024 was a terrific year for annuity sales, and sales at the 12 highest-volume issuers increased 6.4%, to $59 billion.
An issuer had to report at least $3.3 billion in sales to rank in the top 12 in the latest quarter. That was up from a cutoff of $2.96 billion in the year-earlier quarter.
Some big issuers may be letting sales cool this year simply because they added so much annuity exposure last year.
But, at the top 12 issuers, the median rate of increase was 4.8%.
For a look at the sales numbers the 12 biggest issuers reported to Wink, see the gallery accompanying this article.
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