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 pace.
While that may prove difficult, assets have migrated to sources of the highest quality and stability such as TIAA and MetLife. Both companies have benefited from this flight to quality, and there does not appear to be any reason why this would not continue to be the case.
Source: Bank Investment Consultant
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