FIA sales surged to new record in Q3, data show

In the third quarter, sales of fixed indexed annuities soared to a record $14.4 billion, well above the previous record of $12.9 billion in the second quarter of 2014, according to data from the Insured Retirement Institute. “It’s only relatively recently [FIAs] started being made available through wirehouses, independent broker-dealers, regional firms, so that’s expanding the availability of the product and creating new markets,” said Frank O’Connor, IRI’s vice president of research. InvestmentNews (12/15)