Pacific Life Insurance Co. took over the top spot in life insurance new annualized premium through the first three quarters, LIMRA announced Wednesday.
Total U.S. annuity sales increased 8% year over year to a record high $119.5 billion in the second quarter, according to LIMRA’s U.S. Individual Annuity Sales Survey, which represents 92% of the total U.S. annuity market. This tops the record set in the first half of 2024.
Corebridge Financial has a deal with CS Life Re, a subsidiary of Venerable Holdings, to reinsure all the variable annuities of its Individual Retirement business, with account value totaling $51 billion.