Prudential's annuity sales surge during Q2News added by ProWEB Media on August 6, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

Annuity sales rose sharply during the second quarter at Prudential Financial Inc., fueled by an expansion of distribution relationships in the bank and wirehouse channels.

According to Bernard Winograd, executive vice president and chief operating officer of Prudential's U.S.-based businesses, "We're still in the position -- and have been for some time -- where now growth is coming from new distribution relationships."

Prudential's variable annuity sales rose to $5.31 billion during the second quarter, up from $3.37 billion the previous quarter. Meanwhile, fixed annuity sales fell slightly for the quarter to $32 million from $41 million one year ago.
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