Executives at Corebridge Financial say they're optimistic about sales of fixed annuities and non-variable indexed annuities.
The Houston-based company increased the amount of premiums and deposits flowing into non-variable indexed annuities to $1.9 billion in the fourth quarter of 2023, from $1.75 billion in the fourth quarter of 2022.
The flow of premiums and deposits into traditional fixed annuities soared to $3 billion, from $1.4 billion.
Kevin Hogan, the CEO of Corebridge, told securities analysts during a recent conference call that the interest rate environment is positive for fixed annuity sales.
"And I think that the fixed income asset class is something that people have really woken up to as part of a long-term savings plan," Hogan said.
What it means: Some annuity issuers are highlighting their sales of variable annuities, including registered index-linked annuities.
Corebridge is taking a different path and continuing to focus on fixed product sales.
The earnings: Corebridge held the call to go over results for the fourth quarter.
