9/8/2026
WINDSOR, Conn., September 8, 2026—Total U.S. annuity sales rose 2% year over year to $121.2 billion in the second quarter of 2026, marking the 11th consecutive quarter of more than $100 billion in sales, according to LIMRA’s U.S. Individual Annuity Sales Survey, which represents 93% of the total U.S. annuity market.
Year to date, total annuity sales reached $228.7 billion, 1% higher than the first half of 2025—a new first-half record.
“Total annuity sales topped $121 billion, the 11th consecutive quarter above $100 billion, and lifted first-half sales to a new record,” said Bryan Hodgens, senior vice president and head of LIMRA research. “A combination of global tensions, record equity market performance and rising interest rates continued to drive demand, lifting every major product line from the first quarter.”
Registered index-linked annuity (RILA) sales set a new quarterly record in the second quarter, reaching $23.3 billion—up 10% from the first quarter and 22% higher than a year earlier. Through the first half of 2026, RILA sales totaled $44.4 billion, 21% ahead of the same period in 2025. The growth reflects strong investor demand to capture gains from the recent highs in the equity market.
“RILA set another quarterly sales record as carriers continued to pivot toward these products and broaden their distribution,” said Keith Golembiewski, assistant vice president and head of LIMRA Annuity Research. “Investors remain eager to participate in market growth but are wary of a downturn and RILAs blend of upside potential and built-in protection speaks directly to that mindset.”
Fixed-rate deferred (FRD) annuity sales were $41.8 billion in the second quarter, up 17% from the first quarter and down 9% from the second quarter of 2025. Through the first half of 2026, FRD sales were $77.4 billion, 10% lower than the same period last year.
“As crediting rates climbed throughout the second quarter, demand for fixed-rate deferred annuities increased,” Golembiewski said. “However, as volatility subsided, so did the flight to safety and the demand for these products waned.”
Fixed indexed annuity (FIA) sales were $30.6 billion in the second quarter, up 14% from the first quarter but 7% lower than the second quarter of 2025, as average cap rates were slightly below year-ago levels. Year to date, FIA sales were $57.4 billion, down 5% from the first half of 2025. Rising cap rates during the quarter helped boost sales from the first quarter.
Record equity market performance lifted traditional variable annuity (VA) sales in both the quarter and the first half. Second quarter sales reached $17.7 billion, up 3% from the first quarter and 24% from the second quarter of 2025. Year to date, traditional VA sales totaled $34.9 billion, 20% higher than the first half of 2025.
Single premium immediate annuity (SPIA) sales set a record of $4.1 billion in the second quarter, up 15% from the second quarter of 2025 and 12% from the first quarter. Deferred income annuity (DIA) sales were $1.3 billion, 9% higher than a year earlier and up 37% from the first quarter. Rising interest rates coupled with an aging U.S. population moving closer to retirement have made income annuities increasingly attractive and could likely drive demand higher in future quarters.
For more detail on second quarter results, visit Annuity Sales Estimates (Second Quarter 2026) in LIMRA’s Fact Tank. The top 20 rankings of total, variable and fixed annuity writers are also available.
Beginning with the January 2026 report, LIMRA updated its sales definition. The new definitions are:
Sales: all money paid into an individual annuity. This includes money paid into new contracts (with initial purchase occurring in the quarter) and existing contracts (where initial purchase occurred prior to the current quarter). Includes internal transfers.
Internal transfers/exchanges should be from sales of all product types (variable, fixed-rate, indexed). Internal exchanges are annuity-to-annuity exchanges in which both the original contract and the current/new contract are within the same company. These include contract renewals — however, it would exclude auto-renewals. Excludes products that trigger a surrender. Internal exchanges do not require a commissionable sale/transaction.
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