Annuity Sales

Jackson National is the latest in a list of insurance companies to report strong earnings and annuity sales. Jackson National Life Insurance Company reported sales and deposits of $6.1 billion during the first six months of 2009. Variable annuity sales were $3.8 billion for the first two quarters. Fixed annuity sales were also strong at $1.9 billion. Source: Investment News Full Story

An article in Bank Investment Consultant questions whether TIAA-CREF has the ability to maintain its leadership position in the annuity industry. TIAA-CREF had $3.5 billion in variable annuity sales during the first quarter of 2009. Only MetLife at $3.7 billion ranked ahead of TIAA-CREF. TIAA ranked third in total annuity sales during the first quarter and has $375 billion in assets under management. The article essentially questions whether TIAA will continue to gather assets at its current...

Bank holding companies generated three quarters of a billion dollars in annuity fee income during the first three months of 2009--an annual run rate of approximately $3 billion. The fee income is essentially commissions from sales of various annuity products in the banks. Sales by annuity type were not broken-out in the study that came from Michael White Associates. That said, the increase in fixed annuity sales in the first quarter of 2009 likely contributed to robust bank sales. Banks...

Variable annuity sales in the United States continue to decline in the wake of the financial crisis and capital market turmoil. First quarter sales of variable annuities totaled $30.4 billion. This represents a 26% decrease from the same period a year ago. Total variable annuity sales for 2008 totaled $154.8 billion, a drop of 15.1% from 2007. The top 5 variable annuity companies in terms of revenue were lead by MetLife : By individual companies, MetLife re-captured the No. 1 spot, with $3.7...