Speak with a Registered Agent: 1-866-223-2121

Speak with a Registered Agent: 1-866-223-2121

Hartford Looks to Sell More Variable Annuities


With the hiring of Steve Kluever from Jackson National Life Insurance Co., The Hartford Financial Services Group Inc. hopes to increase sales of their variable annuitiesInvestment News’ Darla Mercado writes about the surprise transition in “The Hartford nabs VA exec from Jackson.”  Since Hartford and Jackson have taken very different approaches to business following the financial meltdown of the past few years, many industry insiders were surprised by this transfer.  Kluever will head a new position at Hartford as the vice president of annuity product and marketing.  In 2006 Hartford was the fourth largest seller of variable annuities, but fell drastically after the economy went sour.  They hope to come back from their significant variable annuity hedging losses with this new hire and position within the company.

Hartford was in 20th place last year in their sales of variable annuities, quite a jump from their fourth place status four years prior.  Jackson, on the other hand, was the third largest variable annuity seller, likely due to their approach to product development in the past few years.  Jackson’s financial advisors and clients have around 100 variable annuity subaccounts from which to choose, while Hartford chose to lessen the risk in their product line.  While Hartford has to be careful about the changes they are making to increase their variable annuity presence, they are starting slowly by adding annuity wholesalers and enhancing their Personal Retirement Manager variable annuity soon.  Working 401k annuities into their plan might also be an effective way to increase sales since even the federal government is suggesting these retirement products to help Americans combat longevity risk.

For more information about the product mentioned in this article contact us here:

Newest Blog Posts

Information Request Form

If you have questions or would like more information, please complete this form and a licensed professional will be happy to help. For the fastest response, please select 'Phone' as your Contact Preference.

By providing your information and clicking 'Submit' above, you acknowledge that you have read and agree to this site's privacy policy. You also provide your consent to be contacted at the email address or phone number provided above (including any wireless number) by licensed agents or representatives from or on behalf of AFYI Holdings Group, LLC and other companies to provide the information requested and/or offer annuities or financial products. You understand that these calls or SMS messages may be generated using an automated telephone dialing system, a pre-recorded message, or artificial voice. Consent to receive such messages is not a condition to purchase any goods or services. You may opt out at any time by following the instructions in the messages you receive.  Receiving quotes and information through our website is free, and you are under no obligation to purchase any goods or services as a result of this request. You affirm that you are the subscriber of the provided telephone number or that the subscriber authorized you to provide the number. Message and data rates may apply. AFYI Holdings Group, LLC is committed to respecting your privacy and adhering to all applicable laws and regulations, including the Telephone Consumer Protection Act (TCPA).