Deregulation of variable annuity sa...

Deregulation of variable annuity sales at Japanese banks in October 2002 has juiced up sales of the consequence according to Hartford Life Insurance Co which l competitors end Sept. 30 with 24% of the overall variable annuity market. Hartford started looking at Japan five years ago and received a license to put up to sale there on Dec. 15, 2000

In 2001 it sold the equivalent of $450 million in variable annuities. In 2002 its sales were up to $14 billion. This year's sales hit $14 billion through June 30, and the sales pace in July accelerated to $325 million.