Tuesday, August 25, 2009
Variable Annuity Sales Fall 24% as AIG, Hartford Scale Back
Variable annuity sales in the U.S. fell for a fifth straight quarter as insurers, weakened by the stock market slump last year, scaled back offerings of the equity-linked retirement products.
Sales slipped 24 percent to $31.9 billion in the three months ended June 30 from $42.2 billion in the year-earlier period, trade group LIMRA International said in a statement. Bailed-out companies ING Groep NV, American International Group Inc. and Hartford Financial Services Group Inc. posted declines of more than 50 percent. MetLife Inc. sales rose 27 percent to $4.5 billion, and the firm earned the top spot in the rankings...
Bloomberg: Variable Annuity Sales Fall 24% as AIG, Hartford Scale Back
Sales slipped 24 percent to $31.9 billion in the three months ended June 30 from $42.2 billion in the year-earlier period, trade group LIMRA International said in a statement. Bailed-out companies ING Groep NV, American International Group Inc. and Hartford Financial Services Group Inc. posted declines of more than 50 percent. MetLife Inc. sales rose 27 percent to $4.5 billion, and the firm earned the top spot in the rankings...
Bloomberg: Variable Annuity Sales Fall 24% as AIG, Hartford Scale Back
Permalink posted by markw @ 4:37 AM 
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