According to figures from the National Association for Variable Annuities, VAs experienced a 6.5% rise in sales last quarter over the previous quarter, but total sales for 2002, at $113.7 billion, were barely up over total sales for 2001, at $113.0 billion.

Furthermore, net flow figures remain a tiny fraction of total sales, meaning that little new money is migrating into annuities; the industry took in only $30.7 million in assets in 2002. In 2001, $30.0 million in new assets made its way into VAs.

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