Axa Equitable ranked first in variable annuity sales growth last year, with 20.2%, and its market share rose 4.1% from a year earlier, according to a Morningstar Inc. distribution report.
The Axa SA unit's variable annuity sales tripled from 2001, to $15.5 billion, representing a 20% compound annual growth rate over six years, according to the report, released Tuesday.
Last year the unit's third-party variable annuity sales to broker-dealers, banks, and independent financial planners increased 26.3%, to $9.5 billion, and market share increased 4.6%.
According to Morningstar's data, Axa Distributors maintained the top spot in wire house sales, with a 32.7% increase in total sales, and an 8% increase in market share. The bank channel had the greatest gain in market share, with 12%, and sales through that channel increased 29.7%. With independent financial planners, Axa increased its sales 31.8% and its market share 7.2%.
Total variable annuity sales at Axa Advisors LLC, the company's retail distribution channel, rose 10.8%, to $6.3 billion, and its market share rose 2.6%.
