Total annuity sales in the U.S. rose 15% to $233.7 billion in 2018, according to the fourth-quarter 2018 U.S. retail annuity sales survey by LIMRA Secure Retirement Institute.

For the quarter, total annuity sales reached $62.6 billion, the highest quarterly total annuity sales since first quarter 2009. The amount represents a 23% increase compared with the prior-year period's sales.

Total fixed annuity sales increased 49% in the fourth quarter to reach an all-time high of $37.8 billion. This jump is attributable to higher interest rates and increased equity market volatility. For the year, fixed annuity sales rose 27% to $133.5 billion.

U.S. variable annuity sales fell 3% to $24.8 billion in the quarter. However, total U.S. variable annuity sales for 2018 rose 2% to $100.2 billion.