Click to enlargeTotal annuity sales through banks topped $4 billion in March, reaching the highest level since March 2009, according to a Kehrer-LIMRA survey, which found that both fixed and variable annuities registered double-digit growth for the second month in a row.

Combined fixed and variable sales in March were 27 percent higher than the $3.3 billion sold during the same time last year, according to a statement. Month-to-month, financial institutions sold 31 percent more annuities in March than they did in February.

"February was a banner month and we had been anticipating an additional boost in March," said Janet Cappelletti, associate research director at Kehrer-LIMRA. "Annuity sales have been relatively stagnant for the last year and we finally got the lift everyone was hoping for."

Bank-Sold Annuities Reach Two-Year High

by Banker & Tradesman time to read: <1 min
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