Jackson National Life Insurance Co. of Lansing, Mich., said record sales of variable annuities helped its retail and institutional sales rise 21% last year, to $11 billion.
The subsidiary of Prudential PLC of London said it sold more than $7 billion of variable annuities last year, up 48%.
Sales of Jackson's core life insurance and annuity products rose nearly 28%. Combined with more than $845 million of separately managed account deposits from Jackson's subsidiary Curian Capital, Jackson's retail sales in 2006 exceeded $10 billion for the first time.
In the independent broker-dealer channel, Jackson ranked second in variable annuity sales with a market share of 10.6% at the end of September; a year earlier it ranked fifth with a market share of 8.8%.
Jackson had fixed annuity sales of nearly $1.3 billion in 2006, down from $1.4 billion. Sales of its fixed index annuities topped $1 billion but were down from the more than $1.1 billion posted in 2005.
Jackson announced the sales figures Monday.
