Annuity Products Help MetLife Surge

MetLife is one of the top life insurance companies, and their annuity products are a big reason why.  According to "MetLife Annuities See Positive Outlook" by Errol Baddoo of the Annuity News Journal, the company's annuity sales are soaring.  While they didn't take first place in annuity sales in 2010, MetLife's annuity sales of almost $21 billion made the top 5.  Their variable annuities sold $18 billion in 2010, a 19% increase from 2009.  While fixed annuity sales declined by 65%, they... Read More

New Variable Annuity From MetLife Improves Outlook

According to NASDAQ article "Positive Outlook for MetLife Annuity Sales," the Trefis Team says that MetLife's new variable annuity has accounted for over a $1 billion in sales in just one year.  MetLife teamed up with Fidelity Investments to offer the MetLife Growth and Guaranteed Income (MGGI) variable annuity, which is very popular among investors.  MetLife offers many different annuities, insurance products and retirement plans.  Their main competition comes from Prudential, AIG and... Read More

Variable Annuities Transparent to Advisors

As sales of variable annuities increase, many advisors are concerned that companies will not be able to hedge the products.  According to "Surge in VA sales leads to capacity questions" by Darla Mercado of Investment News, advisors worry that companies won't be able to keep up with the sales increase and are looking deeper into the variable annuities they sell.  LIMRA says that $140.5 billion of variable annuities were sold last year, an increase of 10% from the year before.  Companies are... Read More

Prudential is Annuity Leader in Japan

Analysts from Citigroup changed their tune about Prudential's outlook going into the future, according to Annuity News Journal's Steve Thompson.  In the article "Prudential Outlook Brighter According to Citigroup," we learn that the acquisition of two of AIG's Japanese units is likely to be beneficial for Prudential.  Japanese investors who were worried about the value of their annuity products and life insurance with AIG are confident in the security that Prudential now brings to them. ... Read More

Annuities Slam Analysts' Predictions

In the Annuity News Journal article "Prudential and MetLife Top Analyst Expectations," we learn from Henry Steelman that annuities really made the difference in improved numbers for both Prudential and MetLife.  Analysts' expectations for the fourth quarter numbers of both insurance companies didn't take into account the increased sales they would have for annuity products.  A net income of $51 million in the fourth quarter of 2010 for MetLife equates to five cents per share.  In the fourth... Read More

Ohio National's Variable Annuities Better Than the Competition

According to "Taking off the glitz," Darla Mercado of Investment News says that variable annuities are losing some of the benefits that made them so popular in the first place.  Many living benefit features were added and made more attractive last year in order to draw investors into variable annuities.  But since low interest rates make it more expensive for insurance companies to offer benefits like lifetime withdrawal benefit guarantees, some of the top sellers of variable annuities are... Read More

401k Annuities Discussed in Washington

In a follow-up hearing to the Labor and Treasury Departments request for information earlier this year, insurance companies want Washington officials to make it easier for employers to offer 401k annuities.  Bloomberg's article "Insurers Press U.S. to Let Employers Offer Annuities in Retirement Plans" by Margaret Collins provides information on the hearing.  Insurers think that the government needs to provide "safe harbor" protection so that employers are not liable if the insurance company... Read More

Top Selling Variable Annuities

The list of the top variable annuities sold in bank channels this year was just compiled.  The Bank Investment Consultant article "The Most Wanted List (of Variable Annuities," by Kerry Pechter, talks about the most popular variable annuities of the year thus far.  It's well known among financial consultants and advisors that variable annuities do not sell themselves; the benefits need to be sold to investors.  The benefits of protection from a down market and potential for upside market... Read More

Prudential & AIG Contribute to Variable Annuity Gains

Prudential Financial Inc. and American International Group Inc. contributed to the United States' largest variable annuity sales increase since 2007.  According to Bloomberg's "Variable-Annuity Sales Rise 11% as Prudential, AIG Post Gains" by Inyoung Hwang, the $35.5 billion in sales was an increase of 11% for the second quarter of this year.  Prudential sold $5.3 billion of variable annuities to capture the top spot in sales.  This was a huge increase from their $3.38 billion in sales... Read More

Variable Annuity Sales Help Prudential

Prudential Financial Inc. and Jackson National Life Insurance Company have seen a large increase in their variable annuity sales through banks.  Prudential has seen the majority of their overall growth come from new channels of distribution, rather than their past sales channels.  Their second quarter variable annuity sales were $5.31 billion, which was an increase from $3.37 billion in the first quarter of this year.  While they saw a decline in their fixed annuity sales and after-tax... Read More

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