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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.”

For more details on the sales results, go to Second Quarter 2023 Annuities Industry Estimates in LIMRA’s Fact Tank.

Second quarter 2023 annuity industry estimates, representing 87% of the total market.

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