The National Association for Variable Annuities has announced that net assets in U.S. variable annuities rose 2.7%, to $1.1 trillion, in the second quarter, from the March 31 level.
Net assets grew 8.1% from the year earlier total of $1.05 trillion.
Second-quarter variable annuity premium flow, or total sales, was $33.5 billion, 0.5% less than in the year-earlier quarter, the association said on Monday. Net flows of $5.2 billion were down 58.1% from the year earlier. Net flows for the first six months were $10 billion, down 54.8%.
The mix of premiums for the second quarter showed about 63.5% of the premium flow was in qualified plans and 36.5% in nonqualified.
The mix of net assets included $640.6 billion, or 56.5%, in equity accounts and $274.4 billion, or 24.2%, in fixed accounts.
