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Equity-indexed annuity sales reach a record $5.1 billion in 1999

Top five equity-indexed annuity sellers


These five companies represent 61 percent of the market share of EIAs, according to the Advantage Group.


Sales (in millions)

Jackson National Life Insurance Co.


Conseco Annuity Assurance Co.


Fidelity & Guaranty Life Insurance Co.
American Equity Investment Life Insurance Co.

LifeUSA Insurance Co.


Sales of equity-indexed annuities (EIAs) reached $5.1 billion in 1999, up 25 percent from $4.3 billion in 1998, according to the Advantage Group, a St. Louis-based research firm that tracks EIAs.

EIAs offer a guaranteed interest rate and potential for higher interest earnings based on the performance of a certain stock or bond index, such as Standard & Poor's 500, the Dow Jones Industrial Average, Nasdaq, or the Russell 2000, among others.

Fourth-quarter 1999 sales were a record $1.46 billion, which was up 33 percent from the fourth quarter of 1998. The Advantage Group's data was compiled from a survey conducted in February and March 2000. Over 95 percent of the insurers who offer EIAs participated.

Jack Marrion, president of the Advantage Group, says there are 42 companies offering 111 different equity-indexed annuity products. EIAs, on average, currently earn about 11 percent, he says.

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