Annuity sales in 2006 expected to top record levels

Another strong period of growth in the third quarter puts sales figures 9% higher than 2005 according to LIMRA

Individual annuity sales in the US continued to grow in the third quarter of 2006 at $58.7bn, a 9% increase over the same period in 2005, according to life insurance and financial services association LIMRA International. Sales for the first three quarters of 2006 were up 9% over the same period in 2005, reaching $177.9bn, the Connecticut-based research organisation added.