Index annuities see third-quarter uptick

Index annuity sales crept up during the third quarter, hitting $6.7 billion, according to data from AnnuitySpecs.com of Pleasant Hill, Iowa. That’s up 5.2% from the same period last year. Meanwhile, year-to-date sales of index annuities were $19.5 billion, up 3.9% from the year-ago period. Aviva PLC of London was the top manufacturer of index annuities, raising its market share by 7% from the second quarter. The carrier’s American Investors Income Select Bonus is the top-selling index annuity in the market, according to AnnuitySpecs.com. Sales of indexed life hit $129.5 million during the third quarter, an increase of less than 1% compared with the third quarter in 2007. Year-to-date, indexed life sales were $381.2 million, 9.0% from the comparable period last year. Aviva also had the top spot in this category, with the most market share. However, London-based Old Mutual plc’s MasterChoice Indexed Universal Life was the top-selling indexed life contract during the quarter.