Jackson National loses top annuity sales spot to AIG
March 26, 2019 by Greg Iacurci
Jackson National Life Insurance Co. ceded its six-year reign atop the annuity sales leader board to American International Group Inc. last year, as AIG rode a wave of strong fixed and indexed annuity sales to overtake the former No. 1.
Click HERE to read the full story via InvestmentNews.
………………………………………………………………………………………….
Sheryl Moore, owner of consulting firm Moore Market Intelligence, largely attributes AIG’s growth to rapid product development and the wide-ranging distribution of its annuities through almost every channel, with the exception of direct-to-consumer (including banks, independent insurance agents, full-service national broker-dealers, independent broker-dealers and career insurance agents).
Rising interest rates last year led to higher payouts on fixed annuities, attracting consumers. The average interest rate offered on fixed-rate deferred annuities was nearly 3% at the end of 2018, up from 2.6% to start the year, according to market research firm Wink, Inc.
