LIMRA just released annuity sales results from the fourth quarter of 2010 and the total year results, according to Ruthie Ackerman’s article in the Financial Times. “Who Were the Top 20 Annuity Writers in 2010?” summarizes the top sellers. Total annuity sales were published along with totals for sales of variable annuities and fixed annuities. Of the top 20, half of them had sales increases over the previous year. The top three sellers of variable annuities reached sales records, while 70% of the top variable annuity companies saw overall sales increases in 2010.
Prudential Annuities had both the most annuity sales and the highest sales for variable annuities. They were number one with total annuity sales of $23.3 billion and variable annuity sales of $21.7 billion. They were fourteenth in their sales of fixed annuities. Allianz Life of North America sold the most fixed annuities, selling $7.1 billion. They came in seventh in total annuity sales and thirteenth in variable annuity sales.
The top 20 companies accounted for 80% of total annuity sales, 93% of variable annuity sales, and 74% of fixed annuity sales. Rounding out the top 10 companies in total annuity sales after Prudential were MetLife, Jackson National Life, TIAA-CREF, AIG Companies, Lincoln Financial Group, Allianz Life, New York Life, RiverSource Life Insurance, and ING. Many of the top 10 annuity sellers also made the top list for variable annuities and fixed annuities. In addition to those already mentioned, AXA Equitable and Nationwide Financial were in the top 10 for variable annuities. For fixed annuities, AVIVA, American Equity Investment Life, and Great American were also in the top 10. LIMRA’s report shows the entire top 20 list for each investment.