2010 data can’t match last year’s flight to safety, says Beacon chief in first-ever report
Fixed annuity sales plummeted 51.9% in the first quarter of 2010 compared to a year ago, the Insured Retirement Institute (IRI) said in its first-ever quarterly annuity sales report, released Tuesday, May 18, with data provided by Morningstar Inc. and Beacon Research.
The 51.9% decline in year-to-year quarterly sales of fixed annuities reflected an $18 billion drop from $34.8 billion in the first quarter of 2009. Fixed annuity sales for the first quarter were about $16.7 billion, down from $19.6 billion as of December 31, 2009, representing a 14.7% quarterly decline...
Investment Advisor: Fixed Annuity Sales Drop 51.9% in Year, IRI/Morningstar/Beacon Report Shows