Variable annuity sales hit £445m

Between Q1 and Q2 of 2010, the value of variable annuity sales remained steady, rising by £1m from £222m to £223m. "It is encouraging that there has been a bounce in sales compared to the second half of 2009," says Andy Sanders, senior consultant at Towers Watson. "However those sales were much reduced relative to the first half of 2009, prompted by product redesigns and the exit of the Hartford from the market place as a result of the impact of the financial crisis. "Currently, reaching the 2008 and 2009 billion pound of sales is looking challenging for this year. "It will be i...