NAVA Reports 1st Quarter Variable Annuity Industry Data

Net VA sales rise nearly $1 billion over previous quarter --

NAVA HQ -- NAVA, the Association for Insured Retirement Solutions, today announced first quarter results for the variable annuity industry. The combined net assets of U.S. variable annuities decreased 5.4% to slightly over $1 trillion, as compared to the end of the fourth quarter of 2008. Also, in comparison, during the same time period the S&P 500 dropped over 11% -- proving the value of a diversified variable annuity especially in troubling times.

"The data is slightly better than we expected," said Cathy Weatherford, NAVA CEO and President. "We have been seeing optimism in our economy recently. Consumers should quickly turn to insured retirement solutions like variable annuities to dip their toes back in the financial waters but have some guarantees at the same time. Those who stayed invested in variable annuities throughout the current crisis know now more than ever the value and peace of mind these products deliver."

Variable Annuity total sales for the first quarter were $30.45 billion down from $33.3 billion the previous quarter.  First quarter 2009 net sales were $5.1 billion compared to fourth quarter net sales of $4.2 billion -- an increase of nearly $1 billion. There were $21.4 billion in qualified sales and $9 billion in non-qualified in the first quarter.

 For additional information and charts, please open the PDF version of the release below:

NAVA Reports 1st Quarter Variable Annuity Industry Data