Q3 2025 U.S. Annuity Sales: FIA Declines, Rila Sets New Records

The U.S. fixed indexed annuities (FIA) market experienced a six percent decline in Q3 2025, with sales totaling $33.2 billion, according to Limra's US Individual Annuity Sales Survey. Despite this dip, the nine-month sales figure stood at $93.8 billion, representing 72.4% of the record set in 2024. Registered index-linked annuities (Rila), however, showed sustained growth, setting another quarterly sales record with $20.7 billion in Q3 2025. Major carriers in the Rila market are projected to nearly match or exceed their previous year's sales, indicating robust activity despite broader market challenges.