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WINDSOR, Conn., May 24, 2022—Total U.S. annuity sales increased 4% to $63.3 billion, driven by fixed indexed annuity (FIA) and fixed-rate deferred (FRD) sales growth, according to LIMRA’s U.S. Individual Annuity Sales Survey.

“FIA and FRD sales benefited from rising interest rates and increased market volatility, as investors sought protected growth options,” said Todd Giesing, assistant vice president, LIMRA Annuity Research. “LIMRA is forecasting these products to thrive under current market conditions, growing 5%-10% by year end.”

Overall, fixed annuity sales rose 14% in the first quarter to $35.2 billion. All fixed products except income annuities recorded positive growth:

With interest rates expected to continue to rise throughout 2022, LIMRA has forecast as much as 15% growth collectively for immediate and deferred income annuity sales.

Total variable annuity sales fell 6% in the first quarter to $28.1 billion:

To view first quarter sales results visit First Quarter 2022 Annuities Industry Estimates in LIMRA’s Fact Tank.

First quarter 2022 annuities industry estimates are based on LIMRA’s quarterly annuity sales survey, which represents 91% of the total market.

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