Numbers Game

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.

IssuerNet assets ($M)% change vs. 2013Market share% change vs. 2013
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%
Ameriprise Financial$74,660.34.3%3.9%-2.5%
ING Group$69,366.20.3%3.6%-7.7%
Pacific Life$55,730.32.6%2.9%-3.3%
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%
Mutual of America$12,366.013.9%0.6%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%
Lincoln Financial Group3,349.8-5.7%9.6%-5.9%
Prudential Financial2,558.47.3%7.4%7.2%
Axa Equitable2,297.1-4.0%6.5%-4.4%
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%
Northwestern Mutual423.19.9%1.2%9.1%
ING Group333.8-11.8%1.0%-9.1%
Massachusetts Mutual236.515.8%0.7%16.7%
Jefferson National216.516.9%0.6%20.0%
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%
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

Variable annuity asset leaders ranked by net assets


What do you think?

View comments

Recommended for you

Featured video


Why a #MeToo story about the financial advice industry was important to do

Reporter Greg Iacurci and editorial director Fred Gabriel discuss the survey behind our cover story on sexual harassment in the workplace.

Video Spotlight

We started as a boutique firm with huge ambitions. Schwab was a perfect fit.

Sponsored by Schwab Advisor Services

Recommended Video

Keys to a successful deal

Latest news & opinion

10 millennials making their mark in Washington — and beyond

These next-generation leaders are raising their voices and gaining influence over financial advice regulation and legislation.

Warburg Pincus among private equity managers interested in acquiring Kestra Financial

Sources say Kestra is being valued at between $600 million and $800 million, about eight to 10 times EBITDA.

10 highest paid professions in America today

These are the top-paying jobs in the U.S., according to Glassdoor.

Former Merrill Lynch star broker Thomas Buck sentenced to 40 months in prison

He pleaded guilty to securities fraud in 2017; charged clients excessive commissions.

Rules for claiming Social Security at 70

Some individuals' benefits will begin automatically; others have to take action.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print