Variable Sales Sink in First Quarter.(Brief Article)(Statistical Data Included)

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 …