Variable annuity sales jumped 16 percent in the second quarter when compared to the prior year, to reach $40.9 billion, according to data from LIMRA.

Total annuity sales hit $62.4 billion in the second quarter, an increase of nine percent compared to the prior year, according to LIMRA’s second quarter 2011 U.S. Individual Annuities Sales survey. For the fifth quarter in a row, variable annuity sales have improved, boosting overall annuity sales. Indeed, fixed annuity sales continue to struggle in the current low interest rate environment, falling one percent in the second quarter compared to prior year.

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