Jackson National Life Insurance Company generated $2.6 billion in annuity sales during the first quarter of 2009, up eight percent over the prior year period.
The insurer showed an 81-percent year-over-year increase in traditional fixed annuity sales, says Clark Manning, president.
Overall, the company’s first quarter retail sales and deposits totaled $2.7 billion, in line with retail sales and deposits in the first quarter of 2008.
Jackson is a subsidiary of the United Kingdom’s Prudential PLC.
While sales of variable annuities dropped, the sales of traditional fixed annuities were $693 million, up from $382 million during the same period of the prior year.
“In this turbulent market, advisers and their clients are increasingly attracted to the stability of Jackson’s franchise,” says Clifford Jack, vice-president.
According to Kim Isaacson, spokesperson, Jackson National Life has nearly $75 billion in assets. It markets its products nationwide and has a subsidiary, Jackson National Life Insurance Company of New York.
Source: Jackson National Life
Gretchen Cochran, Innovation & Jobs editor, may be reached here.
All Photographs © Dave Trumpie
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