The top 10 annuity carriers accounted for 54 percent of all annuity sales during the first quarter of 2016, according to new rankings from the LIMRA Secure Retirement Institute.

Annuity sales across the industry totaled nearly $59 billion during the quarter. Total variable annuity sales were $26.6 billion, and total fixed annuity sales were $32.3 billion.

There was one newcomer to the top 10 during the first quarter of 2016: American Equity Investment Life. It ranked 14 on last year’s 1Q list and 10 on this year’s list.

While this year’s other top nine companies were part of the top 10 during last year’s first quarter, their positions changed quite a bit.

Sponsored Download

Download this performance chart and guide to learn about the ground breaking Annuity that is taking down the industry heavy weights.

Download Now

 

In general, the companies that slipped in the rankings compared with last year’s first quarter tended to have a stronger focus on variable annuities, while those that advanced in the rankings were more focused on fixed annuities. This mirrors an overall stronger market trend for fixed annuities while sales of variable annuities have declined.

Rankings were based on data provided by 64 companies, representing 96 percent of total sales.

Continue reading to find out which companies made the top 10 and how those companies took a different approach to fixed and variable products.

American Equity

10. American Equity Investment Life

Q1 2015 Rank: 14

Q1 Sales: $2.1 billion

Variable sales rank: Not ranked

Q1 variable annuity sales: –

Fixed annuity sales rank: 4

Q1 fixed annuity sales: $2.1 billion

Prudential

9. Prudential Annuities

 

Q1 Sales: $2.2 billion

Variable sales rank: 5

Q1 variable annuity sales: $2 billion

Fixed annuity sales rank: Not ranked

Q1 fixed annuity sales: –

Lincoln Financial

8. Lincoln Financial Group

Q1 2015 rank: 3

Q1 Sales: $2.5 billion

Variable sales rank: 6

Q1 variable annuity sales: $1.8 billion

Fixed annuity sales rank: 13 

Q1 fixed annuity sales: $667 million

MetLife building

7. MetLife

Q1 2015 rank: 10

Q1 Sales: $2.5 billion

Variable sales rank: 7

Q1 variable annuity sales: $1.6 billion

Fixed annuity sales rank: 12

Q1 fixed annuity sales: $900 million

AXA logo

6. AXA US

Q1 2015 rank: 9

Q1 Sales: $2.5 billion

Variable sales rank: 3

Q1 variable annuity sales: $2.5 billion

Fixed annuity sales rank: Not ranked

Q1 fixed annuity sales: –

TIAA logo

5. TIAA-CREF

Q1 2015 rank: 4

Q1 Sales: $3.1 billion

Variable sales rank: 2

Q1 variable annuity sales: $3.1 billion

Fixed annuity sales rank: Not ranked

Q1 fixed annuity sales: –

Allianz logo

4. Allianz Life of North America

Q1 2015 rank: 5

Q1 Sales: $3.3 billion

Variable sales rank: 14

Q1 variable annuity sales: $499 million

Fixed annuity sales rank: 3

Q1 fixed annuity sales: $2.8 billion

New York Life logo

3. New York Life

Q1 2015 rank: 6

Q1 Sales: $3.8 billion

Variable sales rank: 12

Q1 variable annuity sales: $640 million

Fixed annuity sales rank: 1

Q1 fixed annuity sales: $3.2 billion

Jackson logo (from company website)

2. Jackson National Life

Q1 2015 rank: 1

Q1 Sales: $4.6 billion

Variable sales rank: 1

Q1 variable annuity sales: $4.3 billion

Fixed annuity sales rank: Not ranked

Q1 fixed annuity sales: –

AIG

1. AIG Companies

Q1 2015 rank: 2

Q1 Sales: $5.1 billion

Variable sales rank: 4

Q1 variable annuity sales: $2.1 billion

Fixed annuity sales rank: 2

Q1 fixed annuity sales: $3 billion

 

See also:

Confidence high in indexed annuity products

The 10 largest annuities markets for 2016

Indexed annuity sales set records in 4th quarter and year

 

Are you following us on Facebook?