The question was: Which of the following variable annuity distribution channels garnered the largest percentage of variable annuity sales for the six-month period ending June 30?
a) Independent NASD firms
b) Captive agencies
c) New York wirehouses
d) Regional investment firms
e) Direct response
f) Bank/credit unions
The answer is: a). Independent NASD firms secured 35% of VA sales, which totaled $41.1 billion in the 2nd quarter of 2008, up 2.5% from $40.1 billion in 1st quarter sales. Captive agencies, New York wirehouses, regional investment firms, direct response and banks/credit unions garnered 30%, 12%, 8%, 2% and 13%, respectively.
