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Non-variable annuity sales up 20 percent year-over-year

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Non-variable annuity sales for the second quarter were up 22 percent compared with the first quarter, and increased 20 percent from the same period last year, according to preliminary data from Wink’s Sales & Market Report. Each category of non-variable products — indexed annuities, traditional fixed annuities and multiyear guaranteed annuities — had sales increases of 20 percent or more over second-quarter 2017, with the exception of traditional fixed annuity sales, which were down 12 percent from a year ago. “I would say that the annuity industry is ready to get back to business,” said Sheryl Moore, author of the report. “The recent increases in rates, coupled with the regulatory reprieve, will result in a confluence of sales momentum to close out 2018 with record sales levels.”