In 2025, the news was mixed.
Sales were strong.
Total U.S. retail annuity sales for the first three quarters of 2025 amounted to $347 billion and were 4.4% higher than the total for the comparable period in 2024, according to data from LIMRA.
Total U.S. retail life sales for the first three quarters increased 12% between 2024 and 2025, to $13 billion.
Some of the forces shaping sales, such as the aging of the U.S. population and strong current employment levels, continued to move on the expected path.
But a number of dark clouds, including worries about U.S. mortality rates, worries about assets tied to the value of office buildings, and worries about future employment levels hovered on the horizon.
Insurers and asset managers kept moving forward.
For a look at some of the events that made the headlines over the past 12 months, see the gallery accompanying this article.
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