The new variable and indexed annuity leaders

The new variable and indexed annuity leaders
Indexed annuities continue to be popular, and Jackson National continues to dominate VA sales.
JAN 13, 2015
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

Issuer Net assets ($M) % change vs. 2013 Market share % change vs. 2013
TIAA-CREF* $442,257.7 5.0% 23.2% -1.7%
MetLife $178,104.6 2.5% 9.4% -3.1%
Prudential Financial $152,286.1 6.1% 8.0% 0.0%
Jackson National $129,662.6 22.4% 6.8% 15.3%
Lincoln Financial Group $116,398.6 10.7% 6.1% 3.4%
AXA Equitable $105,248.1 3.7% 5.5% -3.5%
SunAmerica/VALIC $99,234.1 12.2% 5.2% 4.0%
Ameriprise Financial $74,660.3 4.3% 3.9% -2.5%
ING Group $69,366.2 0.3% 3.6% -7.7%
AEGON/Transamerica $64,231.2 16.1% 3.4% 9.7%
Nationwide $58,621.8 9.7% 3.1% 3.3%
Pacific Life $55,730.3 2.6% 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 $33,041.2 4.1% 1.7% -5.6%
Thrivent Financial $25,988.9 15.9% 1.4% 16.7%
Fidelity Investments Life $25,975.1 11.8% 1.4% 7.7%
New York Life $25,811.8 12.3% 1.4% 7.7%
Ohio National $19,736.3 23.9% 1.0% 11.1%
Northwestern Mutual $16,819.9 10.2% 0.9% 12.5%
Massachusetts Mutual $14,282.1 6.0% 0.8% 0.0%
Protective $12,427.3 7.1% 0.6% 0.0%
Mutual of America $12,366.0 13.9% 0.6% 0.0%
Guardian $9,848.2 8.3% 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

Issuer New sales ($M) % change vs. 2013 Market share % change vs. 2013
Jackson National 5,683.4 9.5% 16.4% 10.1%
SunAmerica/Valic 3,458.6 1.5% 10.0% 2.0%
Lincoln Financial Group 3,349.8 -5.7% 9.6% -5.9%
TIAA-CREF* 3,022.9 -6.6% 8.7% -6.5%
AEGON/Transamerica 2,952.7 25.9% 8.3% 25.8%
Prudential Financial 2,558.4 7.3% 7.4% 7.2%
Axa Equitable 2,297.1 -4.0% 6.5% -4.4%
Nationwide 1,644.1 8.8% 4.5% 9.8%
MetLife 1,574.0 -41.6% 4.4% -42.1%
Pacific Life 1,155.0 10.5% 3.3% 10.0%
Ameriprise Financial 1,210.2 -6.6% 3.0% -18.9%
New York Life 913.2 19.1% 2.6% 18.2%
Thrivent Financial 873.0 8.1% 2.4% 4.3%
Allianz Life 568.3 -24.4% 1.6% -27.3%
Ohio National 564.0 -0.1% 1.6% 0.0%
Fidelity Investments Life 541.9 44.8% 1.6% 45.5%
Forethought 438.5 111.6% 1.3% 116.7%
Northwestern Mutual 423.1 9.9% 1.2% 9.1%
ING Group 333.8 -11.8% 1.0% -9.1%
Protective 284.5 -20.5% 0.8% -20.0%
Massachusetts Mutual 236.5 15.8% 0.7% 16.7%
Jefferson National 216.5 16.9% 0.6% 20.0%
Guardian 189.2 4.6% 0.5% 0.0%
Minnesota Life 155.9 -35.6% 0.4% -42.9%
Mutual of America 127.7 -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. https://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2015/01/CI977411217.JPG" https://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2015/01/CI977421217.JPG"

Indexed annuities ranked by market share

Company Market share Sales % change vs. 2013
Allianz Life of North America 27.71% 161.6%
Security Benefit Life Insurance Co. 9.43% -1.2%
American Equity Cos. 8.56% 0.4%
Great American Insurance Group 6.43% 13.9%
Athene USA 5.23% -11.7%
Midland National Life 3.82% 4.7%
EquiTrust 3.49% -18.6%
Symetra Financial 3.40% 34.1%
Voya Financial 3.39% 39.7%
Fidelity & Guaranty Life 3.29% 55.1%
As of Sept. 30. Source: Wink's Sales & Market Report

Latest News

Gen X and millennials are rethinking retirement as pensions disappear
Gen X and millennials are rethinking retirement as pensions disappear

Eight in 10 pre-retirees say the US retirement system wasn't built for them and most still haven't planned how to make their money last.

Cerulli: Advisors struggle to turn 401(k) savers into wealth clients
Cerulli: Advisors struggle to turn 401(k) savers into wealth clients

Just over 10% of advisors' wealth clients come from defined contribution plans, as capacity, data and technology gaps block the bridge to wealth

Alto to buy Forge Trust from Schwab in self-directed IRA push
Alto to buy Forge Trust from Schwab in self-directed IRA push

Deal creates a $20B-plus custody platform for private market investing in IRAs, months after Schwab closed its Forge Global purchase

Wall Street bonanza! The Street on track to hit a record $90 billion in profits: Report
Wall Street bonanza! The Street on track to hit a record $90 billion in profits: Report

Despite the good times, advisors should tread carefully, said one veteran industry executive.

Most workers have retirement plans but no retirement strategy
Most workers have retirement plans but no retirement strategy

Gallagher data reveals a huge gap in financial confidence between employees who work with an advisor and those who don't.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor