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MetLife, Jackson National & AIG Lead Second Quarter Annuity Sales

Each quarter when annuity sales results are announced, there are some changes in leadership.  Although the fixed or variable annuity leaders sometimes stay the same for long periods of time, there is often a mix up in total annuity sales leaders.  During the second quarter of 2014, the top annuity seller was a company that actually had a pretty poor first quarter.  Life Health Pro’s Emily Holbrook took the sales results from SNL Financial and summarized them for the article “The top 10 annuity sales leaders for Q2 2014.”

MetLife took the number 1 spot with their sales of $7.08 billion in the second quarter.  After a 42% sales decline between the first quarter of 2013 and the first quarter of 2014, they saw a 21.33% increase in sales from the second quarter of 2013 to that of 2014.  An increasing focus on group annuities is a big reason for their increasing sales.  MetLife held 8.58% of the annuity market share during the second quarter of this year.  Last year, they were ranked 2nd during the second quarter.

Jackson National Life took the 2nd spot with sales of $6.77 billion during the second quarter.  They dropped from the first spot last year.  Jackson’s second quarter sales were an increase of 5.85% from the second quarter of 2013 and they held 8.20% of the annuity market share.  AIG went from the 6th spot in 2013 to having the 3rd highest annuity sales in the second quarter of 2014.  Their sales of $4.93 billion were an increase of 21.42% from last year.  AIG held close to 6% of the market share during the second quarter.

The 4th spot was taken by AEGON NV.  Their annuity sales of $4.85 billion were a slight increase of 1.19% from the second quarter of last year.  This increase was enough to move them up from 5th place in 2013 and capture 5.88% of the annuity market share last quarter.  Prudential went from the 4th spot in 2013 down to the 5th spot this year with their sales of $4.40 billion.  This was more than a 10% decrease from second quarter annuity sales in 2013, but still gave them 5.33% of the market share.

Allianz Group was in the 6th spot, all the way up from number 15 last year.  Their second quarter sales of $4.39 billion were a whopping 101.85% increase from second quarter sales of $2.18 billion last year.  Allianz took 5.32% of the market share with their large increase in sales.  The 7th spot was captured by Lincoln National who had 5.28% of the annuity market share last quarter.  Lincoln’s sales went down 11.59% from $4.93 billion in the second quarter of 2013 to $4.36 billion during the second quarter of 2014.  Last year, Lincoln held the 3rd highest spot with annuity sales so this was a big jump down to 7th.

New York Life had the 8th highest sales, up from the 11th spot last year.  Their annuity sales of $3.78 billion were an increase of 17.96% from the second quarter of last year and enough to give them 4.58% of the market share.  Manulife Financial went from the 10th spot up to the 9th spot in quarterly annuity sales.  They captured 4.02% of the market share with their sales of $3.31 billion, although it was a slight decline from their second quarter sales in 2013.  Voya Financial went from the 7th spot last year down to the 10th place during the second quarter.  Their sales of $2.87 billion were 28.14% less than last year.  This gave Voya 3.48% of the annuity market share.

Each company has made changes to their products and distribution which have either increased or decreased their annuity sales.  If you are looking for a reputable insurance company, any of the big names on this top ten sales list are worth consideration.  Annuity products are important tools for planning your financial future.  Make sure that you know the details about annuities being sold at any of these insurers so that you can match the products’ benefits to your financial needs.

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