Second Quarter, 2025 Annuity Sales
August 27, 2025 by Sheryl J. Moore
All Annuity Sales
Sales for the second quarter of 2025 were $114,925 million, compared with sales of $108,045 million for the second quarter of 2024. Second quarter annuity sales were up nearly 17% when compared to the previous quarter and up more than 6% when compared to the same period last year. All annuity sales include sales of multi-year guaranteed, fixed, indexed, structured, variable, immediate income, and deferred income annuity sales.
Deferred Annuity Sales
Sales for the second quarter of 2025 were $111,593 million, compared with sales of $104,667 million for the second quarter of 2024. Second quarter deferred annuity sales were up more than 17% when compared to the previous quarter and up nearly 7% when compared to the same period last year. All deferred annuity sales include sales of multi-year guaranteed, fixed, indexed, structured, and variable annuity sales.
Non-Variable Deferred Annuity Sales
Sales for the second quarter of 2025 were $77,997 million, compared with sales of $73,688 million for the second quarter of 2024. Second quarter non-variable deferred annuity sales were up more than 24% when compared to the previous quarter, and up nearly 6% when compared to the same period last year.
Variable Deferred Annuity Sales
Sales for the second quarter of 2025 were $33,595 million, compared with sales of $30,979 million for the second quarter of 2024. Second quarter variable deferred annuity sales were up nearly 4% when compared to the previous quarter, and up more than 8% when compared to the same period last year. Variable deferred annuities include sales of structured and variable annuities.
Income Annuity Sales
Sales for the second quarter of 2025 were $3,332 million, compared with sales of $3,377 million for the second quarter of 2024. Second quarter income annuity sales were up nearly 5% when compared to the previous quarter, and down more than 1% when compared to the same period last year. Income annuities include sales of immediate income and deferred income annuities.
Multi-Year Guaranteed Annuity
Sales for the second quarter of 2025 were $45,449 million, compared with sales of $41,034 million for the second quarter of 2024. Second quarter MYGA sales were up more than 29% when compared to the previous quarter, and up nearly 11% when compared to the same period last year.
Total 2Q2025 MYGA sales were $45,449,463,172.
THE TOP TEN MYGA CARRIERS FOR THE QUARTER:
- Massachusetts Mutual Life Companies
- New York Life
- Corebridge Financial
- Athene USA
- Fidelity & Guaranty Life
- Nationwide
- Pacific Life Companies
- Western-Southern Life Assurance Company
- Delaware Life
- Protective Life Companies
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Massachusetts Mutual Life Stable Voyage 3-Year
Bank- MassMutual Ascend American Freedom Classic 3 (2025)
Registered Investment Advisor- Guaranty Income Life Guaranty Rate Lock 5-Year
Full Service National Broker Dealer- Massachusetts Mutual Life Stable Voyage 3-Year
Independent Broker Dealer- Pruco Life Prudential FA with Daily Advantage Income Benefit
Career- Thrivent Financial MYG 9-Year
Direct Response- Puritan Life Canvas 3-Year
Independent Agent- Fidelity & Guaranty Life FG Guarantee-Platinum 5
Fee-Based Overall- Pacific Life Pacific Harbor Guaranteed Rate 5-Year
LEADERS BY CHANNEL:
Bank- Athene USA
Registered Investment Advisor- Kuvare Companies
Full Service National Broker Dealer- New York Life
Independent Broker Dealer- Delaware life
Career- New York Life
Direct Response- Puritan Life
Independent Agent- American National
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by agent averaged 2.47% of premium for the second quarter of 2025; an increase of 0.02% from last quarter.
Fixed Annuity
Sales for the second quarter of 2025 were $459 million, compared to sales of $506 million for the second quarter of 2024. Second quarter fixed annuity sales were down nearly 8% when compared to the previous quarter, and down more than 9% when compared with the same period last year.
Total 2Q2025 fixed annuity sales were $459,713,372.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE QUARTER:
- Global Atlantic Financial Group
- Modern Woodmen of America
- CNO Companies
- National Life Group
- Western-Southern Life Assurance Company
- EquiTrust
- CL Life
- Nationwide
- OneAmerica
- GBU Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- Forethought Life ForeCare Fixed Annuity
Full Service National Broker Dealer- Western-Southern Life Senior Select 1-Year
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
Career- United of Omaha Bonus Flexible Annuity
Independent Agent- Forethought Life ForeCare Fixed Annuity
LEADERS BY CHANNEL:
Bank- Global Atlantic Financial Group
National Broker Dealer- Western-Southern Life Assurance Company
Independent Broker Dealer- Global Atlantic Financial Group
Career- Modern Woodmen of America
Direct Response- Corebridge Financial
Independent Agent- Global Atlantic Financial Group
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 5.63% of premium for the second quarter of 2025; a trend that is down 0.34% when compared to last quarter.
Indexed Annuity
Sales for the second quarter of 2025 were $32,088 million, compared with sales of $32,147 million for the second quarter of 2024. Second quarter indexed annuity sales were up nearly 19% when compared to the previous quarter, and down less than 1% when compared to the same period last year.
Total 2Q2025 indexed annuity sales were $32,088,764,970.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE QUARTER:
- Athene USA
- Corebridge Financial
- Allianz Life
- Sammons Financial Companies
- American Equity Companies
- Fidelity & Guaranty Life
- Security Benefit Life
- Global Atlantic Financial Group
- Nationwide
- Delaware Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- American Equity IncomeShield 10
Bank- American General Power Index 5 Plus Annuity
Registered Investment Advisor- Midland National Life Capital Income FIA
Full Service National Broker Dealer- Athene Annuity Athene Ascent Pro 7
Independent Broker Dealer- Athene Annuity Athene Ascent Pro 10
Career- Bankers Life & Casualty Flexible Premium Bonus IA
Independent Agent- American Equity IncomeShield 10
Fee-Based Overall- Midland National Life Capital Income FIA
LEADERS BY CHANNEL:
Bank- Corebridge Financial
Registered Investment Advisor- Sammons Financial Companies
Full Service National Broker Dealer- Global Atlantic Financial Group
Independent Broker Dealer- Athene USA
Career- CNO Companies
Independent Agent- Allianz Life
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.61% of premium for the second quarter of 2025; a trend that is up 0.05% from the prior quarter.
Structured Annuity
Sales for the second quarter of 2025 were $18,209 million compared with sales of $15,660 million for the second quarter of 2024. Second quarter structured annuity sales were up nearly 11% when compared to the previous quarter, and up more than 16% when compared to the same period last year. This was a record-setting quarter for structured annuity sales, topping the prior 4th quarter 2024 record by 5.60%.
Total 2Q2025 structured annuity sales were $18,209,063,390.
THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE QUARTER:
- Equitable Financial
- Allianz Life
- Brighthouse Financial
- Prudential
- Lincoln National Life
- Jackson National Life
- RiverSource life
- Corebridge Financial
- Pacific Life Companies
- Transamerica
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Equitable Structured Capital Strategies Plus 21
Bank- Equitable Structured Capital Strategies Plus 21
Registered Investment Advisor- Lincoln National Life Lincoln Level Advantage 2 Advisory
Full Service National Broker Dealer- Transamerica Life Structured Index Advantage Annuity
Independent Broker Dealer- Lincoln National Life Lincoln Level Advantage 2 B Share
Career- Equitable Structured Capital Strategies Plus 21
Fee-Based Overall- Lincoln National Life Lincoln Level Advantage 2 Advisory
LEADERS BY CHANNEL:
Bank- Equitable Financial
Registered Investment Advisor- Lincoln National Life
Full Service National Broker Dealer- Allianz Life
Independent Broker Dealer- Allianz Life
Career- Equitable Financial
Independent Agent- Brighthouse Financial
Variable Annuity
Sales for the second quarter of 2025 were $15,386 million, compared with sales of $15,318 million for the second quarter of 2024. Second quarter variable annuity sales were down more than 3% when compared to the previous quarter, and up less than 1% when compared to the same period last year.
Total 2Q2025 variable annuity sales were $15,386,626,467.
THE TOP TEN VARIABLE CARRIERS FOR THE QUARTER:
- Jackson National Life
- Equitable Financial
- New York Life
- Nationwide
- Lincoln National Life
- Pacific Life Companies
- Thrivent Financial
- Fidelity Investments
- Corebridge Financial
- Transamerica
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Bank- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Registered Investment Advisor- Jefferson National Life Monument Advisor
Full Service National Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Independent Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Career- Equitable Financial Equi-Vest
Direct Response- Fidelity Fidelity Personal Retirement Annuity
Fee-Based Overall- Fidelity Fidelity Personal Retirement Annuity
LEADERS BY CHANNEL:
Bank- Jackson National Life
Registered Investment Advisor- Nationwide
Full Service National Broker Dealer- Nationwide
Independent Broker Dealer- Jackson National Life
Career- New York Life
Direct Response- Fidelity Investments
Immediate Income Annuity
Sales for the second quarter of 2025 were $2,630 million, compared with sales of $2,547 million for the second quarter of 2024. Second quarter immediate income annuity sales were up nearly 5% when compared to the previous quarter, and up more than 3% when compared to the same period last year.
Total 2Q2025 immediate income annuity sales were $2,630,767,941.
THE TOP TEN IMMEDIATE INCOME CARRIERS FOR THE QUARTER:
- New York Life
- Western-Southern Life Assurance Company
- Massachusetts Mutual Life Companies
- Nationwide
- Penn Mutual
- Athene USA
- Pacific Life Companies
- American National
- Integrity Life Companies
- Global Atlantic Financial Group
LEADERS BY CHANNEL:
Bank- New York Life
Registered Investment Advisor- Jackson National Life
Full Service National Broker Dealer- New York Life
Independent Broker Dealer- Nationwide
Career- New York Life
Direct Response- Securian Financial
Independent Agent- Nationwide
Deferred Income Annuity
Sales for the second quarter of 2025 were $701 million compared with sales of $830 million for the second quarter of 2024. Second quarter deferred income annuity sales were up more than 4% when compared to the previous quarter, and down nearly 16% when compared to the same period last year.
Total 2Q2025 deferred income annuity sales were $701,361,083.
THE TOP TEN DEFERRED INCOME CARRIERS FOR THE QUARTER:
- New York Life
- Massachusetts Mutual Life Companies
- Western-Southern Life Assurance Company
- Integrity Life Companies
- Global Atlantic Financial Group
- Corebridge Financial
- Mutual of Omaha
- Brighthouse Financial
- Pacific Life Companies
- Thrivent Financial
LEADERS BY CHANNEL:
Bank- New York Life
Registered Investment Advisor- Pacific Life Companies
Full Service National Broker Dealer- New York Life
Independent Broker Dealer- Pacific Life Companies
Career- New York Life
Independent Agent- Integrity Life Companies
Wink anticipates compiling third quarter 2025’s sales with a release date of November 2025. -sjm
