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• Record equity markets fuel a new sales record and demand for principal protection
• 11th consecutive quarter of total sales above $100 billion
• YTD sales reached $231.3 billion—a new first half record

WINDSOR, Conn., July 27, 2026—Total U.S. annuity sales rose 4% year over year to a record $123.9 billion in the second quarter of 2026, surpassing the previous quarterly high and marking the 11th consecutive quarter of more than $100 billion in sales, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey, which represents 84% of the total U.S. annuity market.

Year to date, total annuity sales reached $231.3 billion, 2% higher than the first half of 2025—a new first-half record.

“Total annuity sales set an all-time quarterly record, the 11th consecutive quarter above $100 billion,” said Bryan Hodgens, senior vice president and head of LIMRA research. “A combination of global tensions, market volatility and rising interest rates drove demand that lifted all major products and pushed the total market to a new high.”

Registered Index-Linked Annuities

Registered index-linked annuity (RILA) sales set a new quarterly record of $23.3 billion in the second quarter, up 11% from the first quarter and 22% higher than the second quarter of 2025. Year to date, RILA sales totaled $44.4 billion, 21% above the first half of 2025. June was the second-highest sales month ever recorded for RILA, with sales up 15% from May and more than 30% higher than a year earlier, as carriers continued to shift their focus toward these products.

“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. “With equity markets reaching new highs in June, investors were drawn to RILA’s blend of upside participation and downside protection.”

Fixed-Rate Deferred

Fixed-rate deferred (FRD) annuity sales were $44.7 billion in the second quarter, up 26% from the first quarter and down 2% from the second quarter of 2025. Through the first half of 2026, FRD sales were $80.3 billion, 7% lower than the same period last year. On a monthly basis, FRD sales rose roughly 15% both from the prior month and from a year earlier as crediting rates climbed across all durations.

“As crediting rates climbed across every duration, demand for fixed-rate deferred products accelerated,” Golembiewski said. “Investors seeking principal protection pushed FRD sales sharply higher from the first quarter.”

Fixed Indexed Annuities

Fixed indexed annuity (FIA) sales were $30.7 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 $57.5 billion, down 5% from the first half of 2025. Rising cap rates during the quarter helped boost sales from the first quarter, and monthly FIA sales were up more than 10% from the prior month and about level with a year earlier.

Traditional Variable Annuities

Traditional variable annuity (VA) sales were $17.9 billion in the second quarter, up 4% from the first quarter and 25% higher than the second quarter of 2025. Year to date, traditional VA sales reached $35.1 billion, 21% above the first half of 2025. Record equity market performance in June supported the market, though volatility during the quarter tempered results. On a monthly basis, June VA sales rose more than 10% from May and more than 30% from a year earlier, as equity markets reached a new all-time high.

Income Annuities

Single premium immediate annuity (SPIA) sales set a record of $4.0 billion in the second quarter, up 12% from the second quarter of 2025 and 9% from the first quarter. Deferred income annuity (DIA) sales were $1.3 billion, 5% higher than a year earlier and up 32% 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 will be available following the completion of participating carriers’ earnings calls.

Note

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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