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Article: VA Sales Tool A Nosedive In The First Quarter.(variable annuity)(Statistical Data Included)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- June 4, 2001
- Author:
CopyrightCOPYRIGHT 2001 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Last May, the first quarter headlines from a VARDS Press Release on variable annuity industry sales read, "Variable Annuity Sales and Assets Reach All-Time Record." First quarter 2000 total premium flow had hit $36.5 billion, eclipsing 1999's first quarter premium by 36%.
What a difference a year makes! Not since the 1994/1995 period have we witnessed such a significant annual first-quarter-to-first-quarter decline in premium flow. During the 94/95 period, sales declined 23.8%. First quarter 2001 total premium flow of $28 billion is 23.3% lower than first quarter 2000's $36.5 billion.
Internal exchanges in 2000 were 6.73% of total premium flow. First ...