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The new variable and indexed annuity leaders

Indexed annuities continue to be popular, and Jackson National continues to dominate VA sales

Dec 17, 2014 @ 4:00 pm

By InvestmentNews Data and Darla Mercado

Variable annuities are a staple of broker-dealers' business, offering clients the opportunity to garner market exposure on a tax-deferred basis. In recent years, however, sales of indexed annuities — which credit interest to a client's account — have climbed, particularly as advisers seek a fixed-income alternative with an optional guaranteed living benefit feature. Indexed annuities continue to boom in popularity as insurers release products intended specifically for the wirehouse and broker-dealer channels, in addition to their lineups for independent agents.

In the variable annuity space, Jackson National continues to dominate sales. Meanwhile, Allianz Life of North America keeps a tight grasp of market share in the indexed-annuities arena.

Variable annuities are a staple of broker-dealers' business, offering clients the opportunity to garner market exposure on a tax-deferred basis. In recent years, however, sales of indexed annuities — which credit interest to a client's account — have climbed, particularly as advisers seek a fixed-income alternative with an optional guaranteed living benefit feature. Indexed annuities continue to boom in popularity as insurers release products intended specifically for the wirehouse and broker-dealer channels, in addition to their lineups for independent agents.

In the variable annuity space, Jackson National continues to dominate sales. Meanwhile, Allianz Life of North America keeps a tight grasp of market share in the indexed-annuities arena.

Variable annuity asset leaders ranked by net assets

IssuerNet assets ($M)% change vs. 2013Market share% change vs. 2013
TIAA-CREF*$442,257.75.0%23.2%-1.7%
MetLife$178,104.62.5%9.4%-3.1%
Prudential Financial$152,286.16.1%8.0%0.0%
Jackson National$129,662.622.4%6.8%15.3%
Lincoln Financial Group$116,398.610.7%6.1%3.4%
AXA Equitable$105,248.13.7%5.5%-3.5%
SunAmerica/VALIC$99,234.112.2%5.2%4.0%
Ameriprise Financial$74,660.34.3%3.9%-2.5%
ING Group$69,366.20.3%3.6%-7.7%
AEGON/Transamerica$64,231.216.1%3.4%9.7%
Nationwide$58,621.89.7%3.1%3.3%
Pacific Life$55,730.32.6%2.9%-3.3%
Hartford$54,257.1-11.7%2.8%-17.6%
John Hancock$48,714.6-5.8%2.6%-10.3%
Allianz Life$33,041.24.1%1.7%-5.6%
Thrivent Financial$25,988.915.9%1.4%16.7%
Fidelity Investments Life$25,975.111.8%1.4%7.7%
New York Life$25,811.812.3%1.4%7.7%
Ohio National$19,736.323.9%1.0%11.1%
Northwestern Mutual$16,819.910.2%0.9%12.5%
Massachusetts Mutual$14,282.16.0%0.8%0.0%
Protective$12,427.37.1%0.6%0.0%
Mutual of America$12,366.013.9%0.6%0.0%
Guardian$9,848.28.3%0.5%0.0%
Genworth Financial$9,794.6-5.5%0.5%-16.7%

As of Sept. 30. *The bulk of TIAA-CREF's VA assets are generated from group annuity sales of retirement plans, rather than retail sales.
Source: Morningstar, Inc.

Variable annuity sales leaders ranked by new sales

IssuerNew sales ($M)% change vs. 2013Market share% change vs. 2013
Jackson National5,683.49.5%16.4%10.1%
SunAmerica/Valic3,458.61.5%10.0%2.0%
Lincoln Financial Group3,349.8-5.7%9.6%-5.9%
TIAA-CREF*3,022.9-6.6%8.7%-6.5%
AEGON/Transamerica2,952.725.9%8.3%25.8%
Prudential Financial2,558.47.3%7.4%7.2%
Axa Equitable2,297.1-4.0%6.5%-4.4%
Nationwide1,644.18.8%4.5%9.8%
MetLife1,574.0-41.6%4.4%-42.1%
Pacific Life1,155.010.5%3.3%10.0%
Ameriprise Financial1,210.2-6.6%3.0%-18.9%
New York Life913.219.1%2.6%18.2%
Thrivent Financial873.08.1%2.4%4.3%
Allianz Life568.3-24.4%1.6%-27.3%
Ohio National564.0-0.1%1.6%0.0%
Fidelity Investments Life541.944.8%1.6%45.5%
Forethought438.5111.6%1.3%116.7%
Northwestern Mutual423.19.9%1.2%9.1%
ING Group333.8-11.8%1.0%-9.1%
Protective284.5-20.5%0.8%-20.0%
Massachusetts Mutual236.515.8%0.7%16.7%
Jefferson National216.516.9%0.6%20.0%
Guardian189.24.6%0.5%0.0%
Minnesota Life155.9-35.6%0.4%-42.9%
Mutual of America127.7-27.6%0.3%-25.0%

As of Sept. 30. *The bulk of TIAA-CREF's VA assets are generated from group annuity sales of retirement plans, rather than retail sales.
Source: Morningstar, Inc.

Indexed annuities ranked by market share

CompanyMarket shareSales % change vs. 2013
Allianz Life of North America27.71%161.6%
Security Benefit Life Insurance Co.9.43%-1.2%
American Equity Cos.8.56%0.4%
Great American Insurance Group6.43%13.9%
Athene USA5.23%-11.7%
Midland National Life3.82%4.7%
EquiTrust3.49%-18.6%
Symetra Financial3.40%34.1%
Voya Financial3.39%39.7%
Fidelity & Guaranty Life3.29%55.1%

As of Sept. 30.
Source: Wink's Sales & Market Report

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