Jackson Retains Top Spot In 3Q Annuity Sales
November 26, 2014 by Arthur D. Postal
WASHINGTON – Jackson National retained the top spot among individual annuity writers in the third quarter of 2014, according to new data released by LIMRA Secure Retirement Institute.
Total U.S. annuity sales fell 2 percent in the third quarter compared to the year-ago period, according to LIMRA SRI data. This reflects declining consumer interest in fixed annuities due to lower interest rates, LIMRA SRI said.
Jackson remained the largest variable annuity (VA) writer, with Allianz Life leading fixed annuity sales.
The top 20 writers constituted 77 percent of total industry annuity sales, 94 percent of VA sales and 71 percent of fixed annuity sales, LIMRA SRI said. Total annuity sales for the first three quarters of 2014 were $177.69 billion, with VA sales totaling $105.9 billion and fixed annuity sales $71.79 billion.
AIG companies ranked second in total annuity sales, with Lincoln National third, Allianz fourth and TIAA-CREF fifth. In the VA category, Jackson was followed by Lincoln, AIG companies, TIAA-CREF and Prudential. New York Life was second in fixed annuity sales, followed by AIG, Security Benefit and American Equity Investment Life. The only change in ranking among the top five companies in any category was AIG, which edged TIAA-CREF for third place in VA sales.
