Aug. 29, 2023
Total U.S. annuity sales were $181.1 billion in the first half of 2023, increasing 27% and setting a new record. While second quarter sales didn’t match the record high set in the first quarter, annuity sales jumped 10% from prior year results to $87.1 billion.
“Economic conditions — particularly equity market performance and interest rates — have shifted but continue to be favorable for the annuity market.,” said Todd Giesing, assistant vice president, LIMRA Annuity Research. “In the second quarter, registered indexed-linked and fixed indexed annuity sales set records as investors seek solutions that offer greater upside growth potential while maintaining some level of downside protection. LIMRA is forecasting a strong second half of the year and expects 2023 sales to potentially surpass the record sales set in 2022.”