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US annuities sales boom after fiduciary rule kicks the bucket

Wednesday, November 14, 2018, 8:10 PM

U.S. annuities sales are booming months after the demise of a regulation that targeted the product, which had required that brokers put customers' interests ahead of their own compensation. Several U.S. insurers reported surging annuities sales when outlining third-quarter results in recent weeks. American International Group Inc's individual retirement business posted $3.6 billion in annuities sales, a 65 percent jump from the year-ago period.