Numbers Game

2017 largest variable annuity providers

Participating issuers, ranked by net assets and new sales

Feb 17, 2018 @ 6:00 am

By Ellie Zhu and Greg Iacurci

VA sales have trended downward for five years, and the third quarter brought more bad news: the 
product line saw the lowest sales in 20 years. However, experts think interest may slowly pick up as advisers and insurers get more comfortable operating under the DOL fiduciary rule.

Participating issuers, ranked by net assets, Q3 2017
IssuerNet assets ($M)% change vs. 2016Market shareMarket share % change _vs. 2016Financial strength rating*
1TIAA-CREF$474,342.50 5.50%24.70%3.50%A++ (Superior)
2Jackson National$176,606.00 14.40%9.20%12.30%A+ (Superior)
3Prudential Financial$161,203.50 4.70%8.40%2.70%A+ (Superior)
4Lincoln Financial Group$128,692.70 6.80%6.70%4.80%A+ (Superior)
5AXA Equitable$114,282.40 6.60%5.90%4.60%A (Excellent)
6Brighthouse Financial$114,084.70 2.90%5.90%1.00%A (Excellent)
7AIG$113,673.60 6.60%5.90%4.60%A (Excellent)
8Ameriprise Financial$78,240.90 4.80%4.10%2.80%A+ (Superior)
9AEGON/Transamerica$74,579.10 6.60%3.90%4.60%A+ (Superior)
10Nationwide$71,540.70 9.50%3.70%7.40%A+ (Superior)
11Pacific Life$54,540.10 3.80%2.80%1.80%A+ (Superior)
12Voya Financial$39,604.70 -39.70%2.10%-40.80%A (Excellent)1
13Hartford$39,076.40 -2.50%2.00%-4.40%B++ (Good)1
14Allianz Life$34,250.70 11.10%1.80%9.00%A+ (Superior)
15Thrivent Financial$34,101.10 11.40%1.80%9.30%A++ (Superior)
16Fidelity Investments Life$30,836.70 10.60%1.60%8.50%A+ (Superior)
17New York Life$30,392.10 9.30%1.60%7.20%A++ (Superior)
18Ohio National$22,362.70 6.90%1.20%4.90%A+ (Superior)
19Northwestern Mutual$20,184.90 11.00%1.00%8.90%A++ (Superior)
20Mutual of America$15,388.00 22.70%0.80%20.30%A+ (Superior)
Participating issuers, ranked by new sales, Q3 2017
IssuerNet assets ($M)% change vs. 2016Market shareMarket share % change _vs. 2016Financial strength rating*
1Jackson National$3,891.70 -9.50%18.90%1.70%A+ (Superior)
2TIAA-CREF$2,611.60 -19.50%12.70%-0.30%A++ (Superior)
3AXA Equitable$2,118.10 -12.20%10.30%0.60%A (Excellent)
4Lincoln Financial Group$1,595.70 0.10%7.80%1.40%A+ (Superior)
5AIG$1,490.00 -23.40%7.20%-0.60%A (Excellent)
6Prudential Financial$1,315.00 -36.90%6.40%-2.00%A+ (Superior)
7Nationwide$1,221.60 -11.70%5.90%0.40%A+ (Superior)
8Ameriprise Financial$904.30 -10.70%4.40%0.30%A+ (Superior)
9Allianz Life$742.30 46.50%3.60%1.60%A+ (Superior)
10AEGON/Transamerica$724.80 -32.20%3.50%-0.80%A+ (Superior)
11Pacific Life$712.50 0.00%3.50%0.60%A+ (Superior)
12New York Life$668.90 6.00%3.30%0.70%A++ (Superior)
13Thrivent Financial$575.90 -22.50%2.80%-0.20%A++ (Superior)
14Fidelity Investments Life$323.40 -1.00%1.60%0.30%A+ (Superior)
15Brighthouse Financial$306.50 -39.00%1.50%-0.50%A (Excellent)
16Northwestern Mutual$295.90 -4.70%1.40%0.20%A++ (Superior)
17Ohio National$184.30 -50.20%0.90%-0.60%A+ (Superior)
18Massachusetts Mutual$147.00 -10.00%0.70%0.10%A++ (Superior)
19Great-West$139.70 43.00%0.70%0.30%A+ (Superior)
20Mutual of America$123.90 -4.90%0.60%0.10%A+ (Superior)
Source: Morningstar Inc., A.M. Best
Notes: Financials as of Sept. 30, 2017. Ratings as of Feb. 8, 2018. 1 Under review, developing. *of main life insurance subsidiary


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