Rising sales of variable annuities could make 2011 a better year for annuity sales in banks, according to Kehrer-LIMRA.
Sales of annuities in banks fell to $2.7 billion in December 2010, down from $2.9 billion in December 2009, according to Kehrer-LIMRA, a unit of LIMRA, Windsor, Conn.
Sales of fixed annuities fell to $1.1 billion, from $1.6 billion, but sales of variable annuities increased to $1.6 billion, from $1.3 billion.
This year, variable annuities seem to be poised for sales growth, Kehrer-LIMRA says.