The amount of money flowing into annuities declined last year more than 6% from prior-year levels, according to a report from the Depository Trust & Clearing Corp.

Inflows dropped to $84.7 billion from $90.3 billion in 2011, reflecting in part a spike in fourth-quarter outflows. Although the outflows reflect real investor activity, the jump may have been driven by insurance companies trying to get out of the annuity market, according to Andrew Blumberg, DTCC's director of analytic reporting.

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