Insurance Q&A

May 30, 2012

Morningstar: Variable Annuity Sales Up 12% in 2011

Filed under: Annuities — rrroark @ 3:21 pm

Despite ongoing consolidation in the variable annuity industry, sales of new VAs in 2011 rose over 2010 levels, reports Morningstar.

Based on numbers from Q4 2011, the most recent statistics available, new variable annuity sales totaled $153.4 billion last year, or 12.3% above the $136.6 billion in new VA sales booked in 2010.

Net cash flow for 2011 hit $27.7 billion, the highest level since 2007 when net cash flow reached $34 billion and well exceeding the low point of $17 billion back in 2009.

MetLife led in individual VA sales in 2011, grabbing a 21.7% share of sales. Prudential, which had held the top spot from 2009 to the first quarter of 2011, took second place with a 15.4% market share. Taking third place was Jackson National, coming in with a 13.3% share. Those three firms accounted for a combined 50.5% of all retail business in 2011, or roughly $66.2 billion in new VA sales.

via Morningstar: Variable Annuity Sales Up 12% in 2011 | LifeHealthPro.

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