Jackson announces rise in sales

Jackson National Life Insurance Co. of Lansing, Mich., today announced that it generated $11.2 billion in total sales and deposits during the first nine months of the year. The sales figures represent a 2% increase from the comparable period in 2007. Sales of traditional fixed annuities jumped by 165% year over year during the first three quarters, surpassing the $2.2 billion mark. Variable annuity sales during the third quarter exceeded $5 billion but were down from the nearly $6.8 billion mark from the comparable period last year. Still, sales of life insurance were up by 26% over the nine-month period, reaching $45 million. Deposits took a slight dip for Jackson’s separately managed accounts subsidiary, Curian Capital LLC in Denver, during the first nine months of the year: The accounts accumulated $940 million in deposits, down from $963 million in the comparable period in 2007. Assets under management at Curian were $3.2 billion as of Sept. 30, compared with $3.5 billion at the end of 2007. Slumping equity markets offset the new deposits, the company noted in a statement.