Kehrer: Banks Sell More Variable Annuities

NU Online News Service, July 2, 2003, 1:13 p.m. EDT – U.S. banks generated $4.25 billion in annuity sales in April, up from $4 billion in April 2002, according to Kenneth Kehrer Associates, Princeton, N.J.

Bank sales of fixed annuities fell to $2.6 billion, from $3.2 billion in April 2002, but sales of variable annuities increased to $1.65 billion, from $800 million, Kehrer says.