The Insured Retirement Institute indicates that total annuity sales fell almost 7 percent from the fourth quarter 2009 to the first quarter of this year, from $50.9 billion to $47.4 billion.
Meanwhile, in the year-over-year period examined, annuity sales are down 27 percent, from $64.4 in the first quarter 2009.
In terms of fixed annuities, sales dipped 14.7 percent from $19 billion to $16 billion. This means FA sales are down a whopping 51.9 percent from a year earlier, when sales stood at $34 billion.
And finally, variable annuity sales only dropped by 1.5 percent, from $31.9 billion to $31.4 billion in the first quarter. Year-over-year sales of VAs were actually up by 3 percent, from $30.4 billion.