Annuity Sales Jump Most Since 2002 on Interest Rates Gain
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Sales of annuities jumped 17 percent in the fourth quarter, the biggest gain in 11 years, as higher bond yields buoyed insurers that offer the savings products.
Insurers sold $61.9 billion of annuities, compared with $52.7 billion a year earlier, according to estimates today from industry group Limra. The increase was fueled by sales of fixed annuities, which jumped 45 percent to $25.6 billion.