The U.S. arm of Prudential P.L.C. says variable annuity sales soared in 2005 as fixed annuity sales slipped.
Jackson National Life Insurance Company, Lansing, Mich., is reporting $594 million in net income for 2005 on $3.8 billion in revenue, compared with $632 million in net income on $3.6 billion in revenue for 2004.
Although net income was down, operating income, which excludes a variety of charges and adjustments, increased 5%, to $909 million, Jackson National says.