Fixed indexed annuity sales in 2008 rose nearly 6.2% over 2007 results, according to preliminary statistics released by AnnuitySpecs.com, a data service of Advantage Group Associates, Inc., Des Moines, Iowa.
Total 2008 sales for the industry are projected at over $26.7 billion, the company says. The top 10 companies produced over $22 billion.
Table 1 shows that 3 of the top 5 carriers were among the gainers.
Aviva took the lead with total 2008 sales of over $7 billion, a 63.1% jump from its results for all of 2007. At 26.5%, the company also has the largest market share, according to the data.
American Equity produced sales of over $2.2 billion, a 7% increase over its total sales in 2007. The company’s 2008 market share was nearly 8.4%.
ING brought in over $1.4 billion in total 2008 sales, up nearly 9.5% over 2007. Its 2008 market share was 5.37%.