Although sales of annuities fell in the second half of 2011, first half sales were so strong they propelled up by 8% over 2010, to $240.3 billion, so says the latest data from LIMRA. In the fourth quarter, total annuity sales dropped slightly to $57.4 billion from the same quarter in 2010.
Joseph Montminy, LIMRA assistant vice president, annuity research, said in a statement, "While we saw significant growth in the first half of 2011, third and fourth quarter annuity sales fell quarter over quarter, tempering the double-digit growth seen at the midyear mark. In this economic environment, VA companies are carefully managing the risks associated with their guaranteed living benefit riders, which has had an impact on overall sales trends."
Here are the Top 20 companies and their annuity sales in 2011, along with where the companies ranked in they Top 20 for variable and fixed annuity sales:
(Former Cincinnati Reds CEO Carl H. Lindner in 2000 standing next
to a poster of the Great American Ball Park.)
20. John Hancock
(total sales, $2.62 billion)
— Ranked 17th in variable annuity sales: $1.79 billion
— Did not place in top 20 for fixed annuity sales
19. Great American
($3.01 billion)
— Did not place in top 20 for variable annuity sales
— Ranked 7th in fixed annuity sales: $2.96 billion
18. Sun Life Financial
($3.03 billion)
— Ranked 13th in variable annuity sales: $3.01 billion
— Did not place in top 20 for fixed annuity sales
(AVIVA Group CEO Andrew Moss (right) on the floor of the New York
Stock Exchange.)
17. Thrivent Financial for Lutherans
($3.11 billion)
— Ranked 16th in variable annuity sales: $2.33 billion
— Did not place in top 20 for fixed annuity sales
16. Protective Life
($3.38 billion)
— Ranked 14th in variable annuity sales: $2.35 billion
— Did not place in top 20 for fixed annuity sales
15. AVIVA
($4.54 billion)
— Did not place in top 20 for variable annuity sales
— Ranked 5th in fixed annuity sales: $4.54 billion
(American Equity executives in 2004 ringing the opening bell of the NYSE.)
14. Pacific Life
($4.98 billion)
— Ranked 12th in variable annuity sales: $3.32 billion
— Ranked 13th in fixed annuity sales: $1.67 billion
13. American Equity Investment Life
($5.09 billion)
— Did not place in top 20 for variable annuity sales
— Ranked 4th in fixed annuity sales: $5.09 billion
(AXA CEO Henri de Castries.)
12. AEGON USA
($5.46 billion)
— Ranked 10th in variable annuity sales: $5.25 billion
— Did not place in top 20 for fixed annuity sales
11. RiverSource Life Insurance
($6.98 billion)
— Ranked 9th in variable annuity sales: $6.40 billion
— Did not place in top 20 for fixed annuity sales
10. AXA Equitable
($7.17 billion)
— Ranked 8th in variable annuity sales: $7.10 billion
Did not place in top 20 for fixed annuity sales
9. New York Life
($8.13 billion)
— Ranked 15th in variable annuity sales: $2.34 billion
— Ranked 3rd in fixed annuity sales: $5.78 billion
8. Nationwide Financial
($8.16 billion)
— Ranked 7th in variable annuity sales: $7.38 billion
— Did not place in top 20 for fixed annuity sales
7. Allianz Life of North America
($10.34 billion)
— Ranked 11th in variable annuity sales: $3.79 billion
— Ranked 2nd in fixed annuity sales: $6.55 billion
(TIAA-CREF CEO Roger Ferguson Jr.)
6. Lincoln Financial Group
($12.40 billion)
— Ranked 5th in variable annuity sales: $9.36 billion
— Ranked 6th in fixed annuity sales: $3.04 billion
5. TIAA-CREF
($13.44 billion)
— Ranked 4th in variable annuity sales: $13.44 billion
— Did not place in top 20 for fixed annuity sales
(The AIG headquarters in New York.)
4. AIG Companies
($16.56 billion)
— Ranked 6th in variable annuity sales: $8.01 billion
— Ranked 1st in fixed annuity sales: $8.54 billion
3. Jackson National Life
($19.76 billion)
— Ranked 3rd in variable annuity sales: $17.49 billion
Ranked 9th in fixed annuity sales: $2.26 billion
(The MetLife Stadium, home to the Jets and Giants, in East Rutherford, N.J.)
2. Prudential Annuities
($21.33 billion)
— Ranked 2nd in variable annuity sales: $20.24 billion
— Did not place in top 20 for fixed annuity sales
1. MetLife
($30.99 billion)
— Ranked 1st in variable annuity sales: $28.44 billion
— Ranked 8th in fixed annuity sales: $2.55 billion
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