New research from LIMRA finds that total individual annuity sales rose 6% during the fourth quarter of 2010 as compared to the same period last year to reach $57.6 billion.
This was a 3% improvement from the third quarter of 2010.
For the year, total annuity sales dropped 7% from 2009, primarily based on the performance of fixed annuity sales. However, half of the top 20 annuity writers improved their sales in 2010, LIMRA says, which released the top 20 writers of overall total annuities, variable annuities and fixed annuities for 2010.
The top 20 leaders in overall annuity sales are:
1. Prudential Annuities—$23,321,561
3. Jackson National Life—$17,638,882
5. AIG Companies—$12,721,507
6. Lincoln Financial Group—$12,371,113
7. Allianz Life of North America—$10,281,460
8. New York Life—$8,670,060
9. RiverSource Life Insurance—$6,859,610
11. AXA Equitable—$6,370,952
13. Nationwide Financial—$5,752,100
14. American Equity Investment Life—$4,668,559
15. Pacific Life—$4,313,685
16. AEGON USA—$4,221,415
17. John Hancock—$3,844,740
18. Sun Life Financial—$3,404,002
19. Thrivent Financial for Lutherans—$3,012,599
20. Protective Life—$2,644,623
In addition, 70% of variable annuity writers increased their sales, with the top three experiencing record sales. The top variable annuity writer in 2010 was Prudential Annuities, recording $21.7 billion in variable annuity sales; and the top fixed annuity writer in 2010 was Allianz, with a total of $7.1 billion in fixed annuity sales.
The list is based on LIMRA’s 2010 U.S. Individual Annuities survey. To see the full list of variable and fixed annuity writers, click here.
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