Annuities sold in financial institutions retreated from March’s highs

Windsor, CT, July 11, 2011- Windsor, CT, July 11, 2011- Annuities sold in financial institutions retreated from March’s highs in both April and May, according to the Kehrer-LIMRA Monthly Bank Annuity Sales Survey. From March to April, total annuity sales slipped 14 percent to $3.6 billion. They fell a further 5 percent to $3.5 billion in May. On a positive note, total annuity sales were up 57 percent since the beginning of 2011. When compared to May of 2010, annuities sold through banks posted a 10 percent increase (Figure 1)., according to the Kehrer-LIMRA Monthly Bank Annuity Sales Survey. From March to April, total annuity sales slipped 14 percent to $3.6 billion. They fell a further 5 percent to $3.5 billion in May. On a positive note, total annuity sales were up 57 percent since the beginning of 2011. When compared to May of 2010, annuities sold through banks posted a 10 percent increase (Figure 1).