Despite the growth, two leading US insurance carriers have seen their sales noticeably decline amid increasing competition.

Fixed index annuity (FIA) sales had another record high as its sales totaled US$30.7 billion for the second quarter of the year, a 21% increase year-on-year (YoY), according to the US Individual Annuity Sales Survey released by Limra yesterday (28 August). Regardless of possible rate cuts later this year — FIA sales should remain strong through 2024 and are expected to exceed the record set in 2023 - Bryan Hodgens, Limra For the first six months, FIA sales came to $59.3 billion, up 23%

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