Jackson National Life Insurance Co. of Lansing, Mich., said record sales of variable annuities and record deposits from its separately managed accounts subsidiary, Curian Capital, helped its sales and deposits rise 22% in 2007, to $14.5 billion.
Jackson National, a unit of Prudential PLC of London, said its sales of variable annuities rose 29% last year, to $9.1 billion. Curian's separately managed account deposits rose 57%, to $1.3 billion.
Jackson's retail sales and deposits, which exclude sales of institutional products, increased 24%, to $12.6 billion. Its market share in variable annuities rose to 5.1% for the first three quarters from 4.5% for the first nine months of 2006.
Curian expanded its wholesaling force and introduced its Simplified Proposal Process, which was designed to shorten the time required to create a customized client proposal. Curian's assets under management increased 43% last year, to $3.5 billion.
Jackson National announced the results Tuesday.
