Insurance Quotes

Get quick and easy insurance quotes

Currently insured?:
Yes No

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.

Company

Sales (in millions)

Jackson National Life Insurance Co.

$728

Conseco Annuity Assurance Co.

$672

Fidelity & Guaranty Life Insurance Co.
$670
American Equity Investment Life Insurance Co.
$559

LifeUSA Insurance Co.

$501

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.

Ready to get a quote?

Get quick and easy insurance quotes

Insure.com Redesign Survey