Annuity Revenues Tumbled in 2016

For the first time since 2013, insurers are reporting lower revenues from annuities.

According to the Kansas City-based National Association of Insurance Commissioners, the top 25 U.S. insurers reported $253 billion in direct annuity premium revenue in 2016.

Annuity revenues have declined by 4.1 percent since 2015, when the same cohort of insurers reported approximately $264 billion in annuity premiums.

According to the NAIC, these are top 10 annuity carriers, by market share:

Metropolitan Group, 7.9 percent market share, $12.6 billion in direct premiums

Northwestern Mutual Group, 6.3 percent market share, $10.1 billion in direct premiums

New York Life Group, 5.5 percent market share, $8.8 billion in direct premiums

Prudential of America Group, 5.4 percent market share, $8.6 billion in direct premiums

Lincoln National Group, 4.3 percent market share, $6.9 billion in direct premiums

Mass Mutual Life Insurance Group, 4.2 percent market share, $6.7 billion in direct premiums

Aegon U.S.
Source: FA Magazine

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