Jackson National top seller of annuities in 2020

The insurer also led in variable annuity sales last year, while New York Life sold the most fixed annuities.

With sales of $17.9 billion, Jackson National Life topped the total annuity sales chart in 2020. The insurance company also led in variable annuities, with sales of $16.5 billion.

The remaining Top Five leaders in overall annuity sales were AIG Cos. ($14.5 billion), New York Life ($13.7 billion), Lincoln Financial Group ($11.6 billion) and Equitable Financial ($10.5 billion), according to data collected by Limra’s Secure Retirement Institute.

The other leaders in variable annuity sales were Equitable Financial ($10.5 billion), Lincoln Financial Group ($10 billion), TIAA ($10.6 billion) and Brighthouse Financial ($6 billion).

In fixed annuity sales, the leading insurers were New York Life ($9.9 billion), AIG Cos. ($8.5 billion), Sammons Financial Cos. ($8.1 billion), Athene Annuity & Life ($7.7 billion) and Global Atlantic Financial Group ($6.6 billion).

[More: Jackson National to be spun off by UK insurer Prudential]

The Secure Retirement Institute said U.S. annuity sales totaled $219.1 billion in 2020, a decline of 9% from 2019.

[More: Advisers, clients not on same page about guaranteed income: Survey]