Annuity Sales Spike 14% in 2018
Annuity sales continued reaching new heights in 2018, according to LIMRA Secure Retirement Institute. In 2018, total annuity sales increased 14 percent over 2017, reaching $232.1 billion. Total annuity sales for the fourth quarter were $62.1 billion, a 22 percent increase over the fourth quarter of 2017.
Fourth quarter 2018 represents the highest quarterly total annuity sales since first quarter 2009, and the first time annuity sales have exceeded $60 billion since the fourth quarter of 2015. Fourth-quarter indexed annuity sales set an all-time quarterly record at $19.5 billion, a 40 percent increase, compared with fourth quarter 2018 results. For the year, fixed indexed annuity sales rose 27 percent to $69.6 billion, compared with prior years. This is also a record and exceeds the previous annual fixed indexed annuity sales record by $10 billion.