News | 09.29.21
Annuity Sales Reach Near-Record in Second Quarter
According to a report from the Secure Retirement Institute (SRI), sales of annuities increased sharply this year. Data shows sales between April and June were at the second-highest level ever. SRI says sales in the second quarter totaled $68.2 billion across all products. That is up by 40 percent from the second quarter of last year. Over the first half of 2021, sales were up 23 percent to $129.2 billion. Todd Giesing, assistant vice president of annuity research at SRI, says sales are up due “strong economic conditions and consumer pent-up demand after more than a year of living with the uncertainty of the pandemic." He adds, “Early indicators suggest third-quarter sales will be more in line with first-quarter 2021 results, given the resurgence of the pandemic over the summer and falling interest rates."
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