Here's how the top indexed, variable annuity sellers did last year

Allianz Life Insurance Co. of North America shed the most money on the indexed side, and Prudential Annuities on the variable end, both losing more than $2 billion in sales year-over-year

Mar 22, 2018 @ 1:44 pm

By Greg Iacurci

Indexed annuities' decade-long joy ride came to an end last year. The products saw their first year-over-year sales decline since 2007, dipping 5.4% to $57.6 billion, according to the LIMRA Secure Retirement Institute.

Eleven of the top 15 insurance companies offering indexed annuities lost ground compared with 2016 sales. Allianz Life Insurance Co. of North America — the largest seller — lost the most in dollar terms, shedding $2.7 billion in sales year-over-year. American Equity Investment Life Holding Co. lost the most in percentage terms, at roughly 30%.

Top 15 indexed annuity sellers, 2016-17
Note: In billions of dollars. *Brighthouse Financial spun off from MetLife in August 2017.
Source: LIMRA Secure Retirement Institute

The top variable-annuity manufacturers fared a little better, with seven of the top 15 seeing sales declines on the year. Prudential Annuities lost the most in dollar terms, at $2.2 billion, while Transamerica Life Insurance Co. fared the worst in percentage terms, at roughly 28%.

(More: DOL fiduciary rule: 5th Circuit decision could be big win for indexed annuities)

Indexed annuities, as well as variable annuities, which had their lowest annual sales since the late '90s, hit a speed bump in the form of the Department of Labor fiduciary rule, which raised sales standards for the products in retirement accounts. It went into effect in June.

Top 15 variable annuity sellers, 2016-17
Note: In billions of dollars. *Brighthouse Financial spun off from MetLife in August 2017.
Source: LIMRA Secure Retirement Institute


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