Best Fixed Annuity Companies 2019
Best Fixed Annuity Companies 2019: Official Results!
Despite the ultra-low rate environment, we are in fixed annuity sales set a record last year. The results are now in – let’s dive into the best annuity companies 2019.
We will hit on the best annuity company in 2019 for multiple product categories but since our Top 10 Fixed Index Annuity Companies list was so well received last week I am going to dedicate most of today’s post to the best fixed annuity companies 2019.
Best Fixed Annuity Companies 2019: Fixed Annuity
Insurance Company | 2019 Sales (Billions) |
$9,863,105.00 | |
$7,237,372.00 | |
$4,684,876.00 | |
$3,854,866.00 | |
$2,873,727.00 | |
$2,844,881.00 | |
$2,468,257.00 | |
$2,103,435.00 | |
$1,443,005.00 | |
$1,403,162.00 |
Best Fixed Annuity Companies 2019: Financial Ratings
We really want to focus on the best fixed annuity companies this time around as we wrote the Top 10 Fixed Index Annuities Companies List last week. The response on that post has been great – it may be worth a read the next time around.
The below table lists the top 10 Fixed Annuity Companies by sales in 2019. Our clients have been asking more and more about the financial strength of insurance companies so in addition to total fixed annuity sales we’ve include the Comdex Score and AM Best rating for each of the top 10 companies.
| Insurance Company | A.M. Best Rating | Comdex Score | 2019 Fixed Annuity Sales |
|---|---|---|---|
| New York Life | A++ | 100 | $9,863,105.00 |
| AIG Companies | A | 82 | $7,237,372.00 |
| Global Atlantic Financial Group | A | 75 | $4,684,876.00 |
| Massachusetts Mutual Life | A++ | 98 | $3,854,866.00 |
| Pacific Life | A+ | 93 | $2,873,727.00 |
| Principal Financial Group | A | 91 | $2,844,881.00 |
| Western Southern Group | A+ | 96 | $2,468,257.00 |
| Symetra Financial | A | 82 | $2,103,435.00 |
| MetLife | A+ | 95 | $1,443,005.00 |
| Great American | A | 82 | $1,403,162.00 |
Best Fixed Annuity Companies 2019: By the numbers
Total annuity sales were $241.7 billion in 2019, an increase of 3% over 2018 results, representing the highest annual annuity sales recorded since 2008. The top 3 manufacturers represented 22% of the market share in 2019.
Fixed annuity sales broke sales records in 2019. Total fixed sales were $139.8 billion in 2019, up 5% from prior year. AIG was the top seller of total fixed annuities in 2019. This is the second consecutive year AIG has led this market. The top three fixed annuity manufacturers represent 23% of the U.S. fixed annuity market, down from 28% from 2014.
Best Fixed Annuity Companies 2019: Best Financial Ratings
Not only was New York Life the best annuity company in 2019 in terms of fixed annuity sales; they are also the most highly rated of all insurance companies. They boast a Comdex Score of 100 placing them in the one-hundredth percentile and also hold the highest possible A.M. Best Rating, A++.
Best Variable Annuity Company in 2019: Jackson National
Total variable annuity (VA) sales were $101.9 billion in 2019, rising 2% from 2018 results and marking the second consecutive year of annual growth for VAs. For the seventh straight year, Jackson led the sales in the VA market in 2019. The top three VA sellers represented 36% of the total VA market in 2019, up slightly from 2014 when the top three carriers held 35% of the U.S. VA market.
Best Registered Index-Linked Annuity (RILA) Company in 2019: Equitable Financial
Registered index-linked annuities (RILAs) drove the overall growth in the VA market. In 2019, RILA sales were $17.4 billion, up 55%. RILA sales held 17% of the total VA market. Equitable Financial was the top seller of RILAs in 2019, representing 29% of the RILA sales.
”In 2019, we saw a number of new entrants to the rapidly growing RILA market, helping to continue expanding distribution and advisor awareness on these products,” Giesing commented. “Consumers are adding RILAs to their investment portfolios as they near retirement to layer on additional downside protection.”
Best Overall Annuity Company 2019: Jackson National
¹According to the Secure Retirement Institute® (SRITM) U.S. annuity sales rankings, Jackson was the top seller of total annuities in 2019. Jackson retakes the lead position after losing it to AIG in 2018. Jackson has been “king-of-the-jungle” in the variable annuity space for what seems like a decade but variable annuity sales have been on the decline while fixed index annuities are seeing significant growth.
“In 2019, Jackson diversified its annuity sales to focus on growing its fixed annuity market share, which propelled its overall growth in 2019,” said Todd Giesing, SRI senior annuity research director. “Jackson’s fixed indexed annuity sales jumped a staggering 1,293% in 2019, while their fixed-rate deferred annuity sales climbed 169%.”
If you haven’t gotten your daily dose of annuity talk in for the day you can check out some of our unbiased annuity reviews or browse fixed annuity rates or fixed index annuity rates at our online annuity store.
