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Wednesday April 16th 2014

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Total Annuity Sales Decline 6%

downgraphTotal annuity sales for Q1 2013 were $51.7 billion, a 6-percent decrease, according to the first quarter 2013 “U.S. Individual Annuities Sales” survey from LIMRA. The report includes data from 94 percent of the market, LIMRA said. Variable annuity sales declined 4 percent to $35.5 billion, the sixth-consecutive quarter of declines on a year-over-year basis. However, VA sales were 1 percent higher compared to Q4 2012, according to the report, and variable annuity guaranteed living-benefit election rates were steady at 84 percent for the first quarter. Fixed annuity sales were $16.2 billion for the quarter, an 11 percent decline compared with the same quarter last year, marking the eighth-consecutive quarter of declines according to a report at www.limra.com