Filed Under:Annuities, Fixed Indexed

Indexed Annuities Hit Near Record Sales in Q2

Photo credit: Renjith Krishnan
Photo credit: Renjith Krishnan

Q2 sales of indexed annuities marked their second-best quarter ever, advancing 8.3% from the first quarter and grabbing 50% of market share in the fixed annuity space. According to Beacon Research, indexed annuity sales rose to $8.8 billion from $8.2 billion in Q1 and were up 4.8% from the $8.4 billion of indexed annuities sold in the second quarter of last year. Year-to-date sales were up 6.7% as well, climbing from $15.9 billion to $17 billion.

Income annuities also showed quarter-over-quarter growth, rising 6.1% to $2.3 billion. First-half sales were up 10.1%, increasing from $4 billion in the first six months of 2011 to $4.4 billion at the end of June, reports Beacon.

He went on to note that net cash flow declined 51% during the same period. “It is unclear yet if this was an anomalous period, or representative of a ‘new normal’ in cash flows as we see retirees begin to draw income from the $1.5 trillion in aggregate account balances,” O’Connor stated in the release.

Why Indexed Sales are on the Rise

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Nichole Morford

Nichole Morford
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