Sales of registered index-linked annuity (Rila) rises 21% while that of fixed index annuity (FIA) slowdown deepens.
In the first quarter, Rila sales jumped 21% year-over-year to US$21.2 billion, marking the second highest sales quarter, according to preliminary results from Limra’s US Individual Annuity Sales Survey, representing 87% of the total US annuity market. Meanwhile, FIA sales slipped four percent to US$26.6 billion during the three months. Limra has attributed the slight decline in FIA sales to the growing interest in Rila products by annuity carriers and distribution, the industry associati