Third Quarter, 2025 Annuity Sales
November 26, 2025 by Sheryl J. Moore
All Annuity Sales
Sales for the third quarter of 2025 were $117,069 million, compared with sales of $115,267 million for the third quarter of 2024. Third quarter annuity sales were up nearly 2% when compared to the previous quarter and up nearly 2% 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 annuities.
Deferred Annuity Sales
Sales for the third quarter of 2025 $113,225 million, compared with sales of $110,962 million for the third quarter of 2024. Third quarter deferred annuity sales were up more than 1% when compared to the previous quarter and up more than 2% when compared to the same period last year. Since Wink began tracking sales, this was a record-setting quarter for deferred annuity sales, topping the prior 2nd quarter 2025 record by 1.46%. All deferred annuity sales include sales of multi-year guaranteed, fixed, indexed, structured, and variable annuities.
Non-Variable Deferred Annuity Sales
Sales for the third quarter of 2025 were $75,679 million, compared with sales of $79,763 million for the third quarter of 2024. Third quarter non-variable deferred annuity sales were down nearly 3% when compared to the previous quarter, and down more than 5% when compared to the same period last year. Non-variable annuity sales include sales of multi-year guaranteed, fixed, and indexed annuities.
Variable Deferred Annuity Sales
Sales for the third quarter of 2025 were $37,546 million, compared with sales of $31,199 million for the third quarter of 2024. Third quarter variable deferred annuity sales were up nearly 12% when compared to the previous quarter, and up more than 20% when compared to the same period last year. Variable deferred annuities include sales of structured and variable annuities.
Income Annuity Sales
Sales for the third quarter of 2025 were $3,843 million, compared with sales of $4,304 million for the third quarter of 2024. Third quarter income annuity sales were up more than 15% when compared to the previous quarter, and down nearly 11% 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 third quarter of 2025 were $42,643 million, compared with sales of $42,403 million for the third quarter of 2024. Third quarter MYGA sales were down more than 6% when compared to the previous quarter, and up less than 1% when compared to the same period last year.
Total 3Q2025 MYGA sales were $42,643,620,594.
THE TOP TEN MYGA CARRIERS FOR THE QUARTER:
- Athene USA
- Nationwide
- Massachusetts Mutual Life Companies
- New York Life
- Corebridge Financial
- USAA
- Symetra Financial
- American National
- Protective Life Companies
- Global Atlantic Financial Group
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Nationwide Life Nationwide Secure Growth 5-Year
Bank- Athene Annuity Athene MYG 5 with MVA
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- Nationwide Life Nationwide Secure Growth 5-Year
Career- Thrivent Financial MYG 9-Year
Direct Response- Puritan Life Canvas 3-Year
Independent Agent- American National Palladium MYG 5
Fee-Based Overall- Aspida Life Aspida Advisory MYGA 5-Year
LEADERS BY CHANNEL:
Bank- Athene USA
Registered Investment Advisor- Kuvare Companies
Full Service National Broker Dealer- Massachusetts Mutual Life Companies
Independent Broker Dealer- Nationwide
Career- New York Life
Direct Response- USAA
Independent Agent- American National
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by agent averaged 2.27% of premium for the third quarter of 2025; a decline of 0.20% from last quarter.
Fixed Annuity
Sales for the third quarter of 2025 were $538 million, compared to sales of $516 million for the third quarter of 2024. Third quarter fixed annuity sales were up nearly 16% when compared to the previous quarter, and up more than 4% when compared with the same period last year.
Total 3Q2025 fixed annuity sales were $538,023,987.
THE TOP FIXED ANNUITY CARRIER FOR THE QUARTER:
Global Atlantic Financial Group
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- State Life Annuity Care II
Full Service National Broker Dealer- Western-Southern Life Senior Select 1-Year
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
Career- State Life Annuity Care
Independent Agent- Forethought Life ForeCare Fixed Annuity
LEADERS BY CHANNEL:
Bank- OneAmerica
National Broker Dealer- Nationwide
Independent Broker Dealer- Global Atlantic Financial Group
Career- Equitable Financial
Direct Response- Corebridge Financial
Independent Agent- Global Atlantic Financial Group
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 5.86% of premium for the third quarter of 2025; a trend that is up 0.23% when compared to last quarter.
Indexed Annuity
Sales for the third quarter of 2025 were $32,497 million, compared with sales of $36,842 million for the third quarter of 2024. Third quarter indexed annuity sales were up more than 1% when compared to the previous quarter, and down nearly 12% when compared to the same period last year.
Total 3Q2025 indexed annuity sales were $32,497,517,080.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE QUARTER:
- Athene USA
- Allianz Life
- Corebridge Financial
- American Equity Companies
- Sammons Financial Companies
- Nationwide
- Delaware Life
- Fidelity & Guaranty Life
- Global Atlantic Financial Group
- Massachusetts Mutual Life Companies
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Athene Annuity Athene Ascent Pro 10
Bank- American General Power Index 5 Plus Annuity
Registered Investment Advisor- MassMutual Ascend Index Protector 5 MVA
Full Service National Broker Dealer- Athene Annuity Athene Ascent Pro 7
Independent Broker Dealer- Athene Annuity Athene Ascent Pro 10
Career- Pruco Life Prudential SurePath Income FIA
Direct Response- USAA Fixed Indexed Annuity
Independent Agent- American Equity IncomeShield 10
Fee-Based Overall- MassMutual Ascend Index Protector 5 MVA
LEADERS BY CHANNEL:
Bank- Corebridge Financial
Registered Investment Advisor- Massachusetts Mutual Life Companies
Full Service National Broker Dealer- Athene USA
Independent Broker Dealer- Athene USA
Career- Prudential
Direct Response- USAA
Independent Agent- Allianz Life
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.58% of premium for the third quarter of 2025; a trend that is down 0.03% from the prior quarter.
Structured Annuity
Sales for the third quarter of 2025 were $19,950 million compared with sales of $16,100 million for the third quarter of 2024. Third quarter structured annuity sales were up nearly 10% when compared to the previous quarter, and up nearly 24% when compared to the same period last year. This was a record-setting quarter for structured annuity sales, topping the prior 2nd quarter 2025 record by 9.56%.
Total 3Q2025 structured annuity sales were $19,950,021,994.
THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE QUARTER:
- Equitable Financial
- Allianz Life
- Jackson National Life
- Brighthouse Financial
- Prudential
- Lincoln 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- Jackson National Jackson Market Link Pro III
Career- Equitable Structured Capital Strategies Plus 21
Fee-Based Overall- Lincoln National Life Lincoln Level Advantage 2 Advisory
Independent Agent- Brighthouse Life Shield Level II 3-Year Annuity
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- Brighthouse Financial
Variable Annuity
Sales for the third quarter of 2025 were $17,596 million, compared with sales of $15,098 million for the third quarter of 2024. Third quarter variable annuity sales were up more than 14% when compared to the previous quarter, and up nearly 17% when compared to the same period last year.
Total 3Q2025 variable annuity sales were $17,596,145,925.
THE TOP TEN VARIABLE CARRIERS FOR THE QUARTER:
- Jackson National Life
- Nationwide
- Equitable Financial
- Lincoln National Life
- New York Life
- Pacific Life Companies
- Thrivent Financial
- Corebridge Financial
- Fidelity Investments
- 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- Thrivent Financial Retirement Choice VA
Direct Response- Fidelity Fidelity Personal Retirement Annuity
Fee-Based Overall- Jefferson National Life Monument Advisor
LEADERS BY CHANNEL:
Bank- Jackson National Life
Registered Investment Advisor- Nationwide
Full Service National Broker Dealer- Jackson National Life
Independent Broker Dealer- Jackson National Life
Career- New York Life
Direct Response- Fidelity Investments
Independent Agent- Talcott Financial Group
Immediate Income Annuity
Sales for the third quarter of 2025 were $3,039 million, compared with sales of $3,104 million for the third quarter of 2024. Third quarter immediate income annuity sales were up nearly 16% when compared to the previous quarter, and down more than 2% when compared to the same period last year.
Total 3Q2025 immediate income annuity sales were $3,039,711,755.
THE TOP TEN IMMEDIATE INCOME CARRIERS FOR THE QUARTER:
- New York Life
- Massachusetts Mutual Life Companies
- USAA
- Nationwide
- Western-Southern Life Assurance Company
- Penn Mutual
- Integrity Life Companies
- American National
- Thrivent Financial
- Athene USA
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- USAA
Independent Agent- American National
Deferred Income Annuity
Sales for the third quarter of 2025 were $945 million compared with sales of $1,200 million for the third quarter of 2024. Third quarter deferred income annuity sales were up nearly 35% when compared to the previous quarter, and down more than 21% when compared to the same period last year.
Total 3Q2025 deferred income annuity sales were $945,820,535.
THE TOP TEN DEFERRED INCOME CARRIERS FOR THE QUARTER:
- New York Life
- Massachusetts Mutual Life Companies
- USAA
- Western-Southern Life Assurance Company
- Integrity Life Companies
- Global Atlantic Financial Group
- Mutual of Omaha
- Corebridge Financial
- Lincoln National Life
- Brighthouse Financial
LEADERS BY CHANNEL:
Bank- New York Life
Registered Investment Advisor- Integrity Life Companies
Full Service National Broker Dealer- Massachusetts Mutual Life Companies
Independent Broker Dealer- Global Atlantic Financial Group
Career- New York Life
Direct Response- Corebridge Financial
Independent Agent- Mutual of Omaha
Wink anticipates compiling fourth quarter 2025’s sales with a release date of March 2025. -sjm
