Jackson National takes top spot in annuity sales
By National Underwriter
By Warren S. Hersch
Jackson National Life Insurance Company was the top seller of individual annuities in the U.S. in the first quarter, new research shows.
LIMRA, Windsor, Conn., publishes this finding in its top 20 rankings of total, variable and fixed annuity writers for the first quarter of 2013.
The rankings peg Jackson National Life’s sales in the first quarter of this year at $5.3 billion. Jackson Nation is the only carrier to exceed the $5 billion mark. The next four top sellers by carrier include:
- Prudential Annuities ($4.3 billion)
- MetLife ($3.9 billion)
- Lincoln Financial Group ($3.7 billion)
- AIG Companies ($3.2 billion)
- Prudential Annuities ($4.2 billion)
- MetLife ($3.5 billion)
- Lincoln Financial Group ($3.2 billion)
- TIAA-CREFF ($3.2 billion)
- New York Life ($1.1 billion)
- Security Benefit Life ($1.1 billion)
- American Equity Investment Life ($929.9 million)
- AIG Companies ($906.2 million)
Industry-wide, according to LIMRA annuity sales in the first quarter totaled $51.7 billion. VA and fixed annuities sales were, respectively, $35.5 billion and $16.2 billion.
The top 20 share of annuity sales is 79 percent, the survey shows. The top 20 share of the VA and fixed annuity sales are 92 percent and 73 percent, respectively.
Originally published on LifeHealthPro.com