Variable Annuity Net Assets Dip from Last Quarter, NAVA Reports |
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Written by U. S. Insurance News
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Monday, 23 June 2008 |
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Combined net assets of U.S. variable annuities decreased 6 percent
during the first fiscal quarter, but they are still higher than a year
ago.
These statistics come from Virginia-based NAVA, the Association for
Insured Retirement Solutions, which recently released first quarter
results for the VA industry obtained from Morningstar, Inc.
Combined net assets of VAs stand at $1.4 trillion at the end of the first quarter, an increase of .5 percent from a year ago, when they were $1.39 trillion.
Total VA sales, or premium flows, for the first quarter were $41.6 billion, a 1.7 percent increase from Q1 2007. First quarter net sales (net flows) of $7.2 billion represented a 12.3 percent jump from Q1 2007 net sales of $6.4 billion.
The mix in premiums for the first quarter showed that 64.2 percent of total sales were in qualified plans and 35.8 percent were in non-qualified plans.
The mix of net assets by investment objective showed that $783.5 billion, or 56.1 percent, of $1.39 trillion total assets was held in equity accounts. This total dropped 6.1 percent compared with Q1 2007, when $834.0 billion, or 60 percent, was held in equity accounts.
The mix also shows that $262.9 billion, or 18.8 percent of assets, was held in fixed accounts.
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