Stock market volatility hurt sales of traditional variable annuities in the third quarter but helped sales of non-variable annuities, according to new annuity issuer sales survey data from Wink.
Sheryl Moore, the CEO of Wink, said rising interest rates made multi-year guaranteed annuities, or MYGA contracts, especially popular.
"This isn't surprising, considering that I have three-year MYGAs today that are crediting nearly three times the interest that they were in the first quarter," Moore said.
