May 28, 2013

Top 20 Companies for Annuity Sales: Q1

LIMRA finds annuity sales declined in a market that’s ‘more challenging to many annuity manufacturers than the recent financial crisis’

AIG was one of the top five annuity sellers. (Photo: AP) AIG was one of the top five annuity sellers. (Photo: AP)

Total annuity sales fell 6% in the first quarter of 2013, troubled by lackluster variable and fixed annuity sales, insurance research consultant LIMRA reported May 22 in its latest listing of the top 20 companies for U.S. individual annuities sales.

LIMRA’s first-quarter 2013 U.S. individual annuities sales survey, which represents data from 94% of the market, reported total sales of $51.7 billion for the quarter. The top 20 companies’ share came to 79% of the overall market.

Variable annuity sales were down 4% in Q1 to $35.5 billion, the sixth consecutive quarter of declines on a year-over-year basis, according to LIMRA. This was 1% higher than in the fourth quarter of 2012. VA guaranteed living benefit election rates were steady at 84% in the first quarter.

“VA sales continue to struggle despite sustained equity market gains,” said Joseph Montminy, assistant vice president and director of LIMRA annuity research, in a statement. “In addition, all significant fixed annuity product types declined in the first quarter of 2013. In many ways, the current market is more challenging to many annuity manufacturers than the recent financial crisis.”

Total fixed annuity sales slipped to $16.2 billion in the first quarter, falling 11% compared with the prior year, for an eighth consecutive quarter of declines.

For LIMRA’s list of the top 20 companies for U.S. individual annuities sales, ranked from last to first according to total sales, read the pages that follow.

Read Top 20 Companies for Annuity Sales in 2012 at AdvisorOne.

Fidelity sign (Photo: AP)LIMRA’s Top 20 listing of first-quarter 2013 U.S. individual annuities sales

20. Great American

Total sales: $609 million

Variable sales: Not listed

Fixed sales: Not listed

19. Massachusetts Mutual Life

Total sales: $626 million

Variable sales: Not listed

Fixed sales: $431 million

18. Fidelity Investments Life

Total sales: $629 million

Variable sales: $629 million

Fixed sales: Not listed

17. Protective Life

Total sales: $695 million

Variable sales: $580 million

Fixed sales: Not listed

16. Thrivent Financial for Lutherans

Total sales: $816 million

Variable sales: $753 million

Fixed sales: Not listed

American Equity executives ringing the bell at the New York Stock Exchange. (Photo: AP)15. American Equity Investment Life

Total sales: $930 million

Variable sales: Not listed

Fixed sales: $930 million

14. Security Benefit Life

Total sales: $1.170 billion

Variable sales: Not listed

Fixed sales: $1.106 billion

13. RiverSource Life Insurance

Total sales: $1.287 billion

Variable sales: $1.236 billion

Fixed sales: Not listed

12. Nationwide Financial

Total sales: $1.397 billion

Variable sales: $1.32 billion

Fixed sales: $266 million

11. Transamerica

Total sales: $1.636 billion

Variable sales: $1.597 billion

Fixed sales: Not listed

AXA CEO Henri de Castries (Photo: AP)10. Pacific Life

Total sales: $1.668 billion

Variable sales: $1.291 billion

Fixed sales: Not listed

9. New York Life

Total sales: $1.837 billion

Variable sales: $718 million

Fixed sales: $1.120 billion

8. Allianz Life of North America

Total sales: $1.905 billion

Variable sales: $742 million

Fixed sales: $1.163 billion

7. AXA Equitable

Total sales: $2.191 billion

Variable sales: $2.191 billion

Fixed sales: Not listed

6. TIAA-CREF

Total sales: $3.156 billion

Variable sales: $3.156 billion

Fixed sales: Not listed

The Prudential Center in Newark, N.J. (Photo: AP)5. AIG Companies

Total sales: $3.223 billion

Variable sales: $2.316 billion

Fixed sales: $906 million

4. Lincoln Financial Group

Total sales: $3.731 billion

Variable sales: $3.159 billion

Fixed sales: $572 million

3. MetLife

Total sales: $3.925 billion

Variable sales: $3.517 billion

Fixed sales: $408 million

2. Prudential Annuities

Total sales: $4.277 billion

Variable sales: $4.197 billion

Fixed sales: Not listed

1. Jackson National Life

Total sales: $5.309 billion

Variable sales: $4.565 billion

Fixed sales: $744 million

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More Top 10 lists from AdvisorOne:

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