First Quarter 2008 VA Net Sales Rise 12.3%, to $7.2 billion
June 17, 2008
The net assets of U.S. variable annuities were $1,397 billion at the end of the first quarter of 2008, down 6% from $1,485 billion at the end of the 2007. But they were a half percent higher than the $1,390 billion at end of the first quarter of 2007, according to NAVA, the Associations for Insured Retirement Solutions.
Total VA sales, or premium flows, for the first quarter 2008 was $41.6 billion, up 1.7% from the first quarter of 2007, while net sales were $7.2 billion, up 12.3% from first quarter of 2007 net sales of $6.4 billion. Of total first quarter 2008 sales, 64.2% were in qualified plans and 35.8% in non-qualified plans.
About 56% of total assets, or $784 billion, was held in equity accounts, a decline of 6.1% from the $834 billion or 60% in the first quarter of 2008 compared to the same period in 2007. About $263 billion, or 18.8% of assets, was held in fixed accounts.
For more information on related topics, visit the following:
