Annuity Sales See Historic Drop In 3Q
November 30, 2017 by Cyril Tuohy
Third-quarter annuity sales were down…
Wink’s Sales & Market Report said third quarter non-variable deferred annuity sales dropped 11.1 percent to $20.2 billion compared to the year-ago period.
According to Wink, Third-quarter fixed indexed annuity sales fell 11 percent to $12.7 billion compared with the year-ago quarter, and traditional fixed annuities with a one-year guaranteed fixed rate fell 36 percent to $810 million compared to the year-ago period.
The dive in annuity sales in the midst of a robust equity market and at a time when 10-year Treasury yields are higher than they were last year left some industry experts stumped for answers.
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