Fixed annuity sales up in first half of ’11
Fixed annuity sales continue to struggle in the current low interest rate environment, falling 1 percent in the second quarter compared with the prior year. In the first half of 2011, however, total fixed annuity sales grew by 3 percent compared with the first half of 2010, reaching $41.7 billion. The top three sellers year-to-date in 2011 were American International Group Inc., New York Life Insurance Co. and Allianz Life Insurance Company of North America.
Here’s a look at how some Greater Des Moines-based companies that sell annuities performed in the fixed annuities market in the first half of the year. West Des Moines-based American Equity Investment Life Insurance Co. had a big jump in sales compared with last year, overtaking Aviva USA to become the fourth-largest seller of fixed annuities, according to the U.S. Individual Annuities Sales Survey conducted by LIMRA.