Variable Annuity Sales Total $34 Billion During Third Quarter of 2010

Variable annuity sales in the United States increased 9.7 percent to total $34 billion during the third quarter of 2010.

Variable annuity revenue figures continue to be concentrated among a handful of leading companies:

  1. Prudential Financial: $15.5 billion year to date.
  2. MetLife: $13.2 billion year to date.
  3. Jackson National Life: $10.47 billion year to date.
  4. TIAA-CREF: $10.42 billion year to date.
  5. Lincoln Financial: $6.6 billion.

The total amount of variable annuity sales in the first 9 months of 2010 is $102.8 billion.  Variable annuity assets under management total $1.41 trillion.

As indicated above, the top 5 insurance companies comprise almost 55 percent of total sales.

LIMRA, an industry trade group, also indicated that 89 percent of variable annuity sales are accompanied by a guaranteed living benefit rider.

Source: Trading Markets

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