For the second consecutive quarter, bank sales have propelled fixed-rate deferred (FRD) and fixed-indexed annuity (FIA) sales to reach record levels in the US.
FRD sales in banks jumped 243% and bank FIA sales leapt 61% in the third quarter - this represents the highest quarterly annuity sales results ever. Overall annuity sales were US$80.7 billion in the third quarter, a 29% increase year-on-year (YoY), according to Limra’s US Individual Annuity Sales Survey. FIAs are very attractive to investors seeking principal protection with potential investment growth opportunity - Todd Giesing, Limra Year-to-date, total annuity sales were US$2
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