Jackson National Life Insurance Co. of Lansing, Mich., announced Thursday that sales in its core life and annuity lines rose 25%, to $6.9 billion, in the first nine months of the year.
Retail sales during the period were nearly 94% of the company's full-year record for retail sales, $7.3 billion, set in 2005.
Jackson, a subsidiary of Prudential PLC of London, said sales overall rose 14.5% compared with the first nine months of 2005, to $8.3 billion. Variable annuity sales rose 48%, to $5.1 billion.
For the first half, Jackson's share of the variable annuity market was 4.3%, versus 3.5% in the first half of 2005.
In the independent broker-dealer channel, Jackson's market share of variable annuity sales was 10.4% in the first half, versus 8.8% for the first half of 2005. The company ranked second in variable annuities sales through the channel; it was fifth in the first half of 2005 and third in this year's first quarter. Fixed annuity sales were nearly $940 million in the first nine months, down from $1.2 billion in the first nine months of 2005. Third-quarter fixed annuity sales rose 27% from the second quarter.
