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As uncertainty in the equity markets continued during the first quarter of 2001, sales of variable annuities declined.
First quarter sales fell 23.4 percent compared to the first quarter a year ago and 8.8 percent from the last quarter of 2000, according to preliminary data from VARDS/Info-One of Marietta, Ga.
VARDS/Info-One estimated variable annuity industry sales for this year's first quarter to be $27.95 billion compared to $36.52 billion during the first quarter last year and $30.64 billion for the last quarter of 2000.
Ninety percent of all variable annuity sales during the first quarter were captured by the top 25 companies, the VARDS/Info-One data showed. Of the top 10 sellers during …