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Western & Southern sold $1.25 billion in annuities during the firstr four months ofthe year, it said last week. That puts it on pace to beat last year’ s total fixed and variable annuityu salesof $2.97 billion by 26 percent. The company’s 2008 annuitt sales soared 59 percent from theprior year. “Our strong annuity sales are a direct result of the ongoingg flightto quality,” CEO John Barrett said in a news Western & Southern carries a AA+ ratingv from Standard & Poor’s, making it one of the world’z nine strongest life insurance groups. Salezs through banks have been a big partof downtown-basexd Western & Southern’s growth.
Those salesa generated $523 million so far this or about 40 percent ofthe company’s totap annuity sales. Bank-related sales more than doubled last Western & Southern’s sales place it among the nation’s largest provideres of individual annuity products, according to , an associatio of life insurers and financial firms.
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