Morningstar Advisor - August/September 2009 - 76

By the Numbers: VAs A Bright Spot for VAs, Despite Drop By Frank O’Connor New sales of variable annuities declined further in the first quarter of 2009, falling to $30 billion from fourth-quarter new sales of $32.7 billion. Relative to 2008’s first quarter, new sales were down 26.7%. A bright spot was the amelioration of sales toward the end of the quarter: The March estimate of industry sales was $10.8 billion, up from the January estimate of $8.75 billion. March sales may have been driven by the combination of annual tax planning, relatively strong equity market performance, and a rush to invest before the closing of living benefit options. Assets under management also declined further, falling 4.4% to $1,066 billion from December AUM of $1,114.8. MetLife regained the top spot, with $3.7 billion in new sales and a market share of 12.5%. TIAA-CREF (11.7%), AXA Financial (9.7%), Prudential (7%), and John Hancock (6.9%) rounded out the top five. Tops in the third-party distribution channels were AXA Financial, with an 11.1% share of bank sales; MetLife, with 14.2% of independent-financial-planner sales and 17.6% of wirehouse sales; and John Hancock, with 16.8% of total sales by advisors affiliated with regional brokerage firms. The first quarter’s top-selling non-group product was Allianz Vision, with $944.5 million in new sales--3.9% of total retail (non-group) sales. Finishing the top five were John Hancock Venture III ($831.7 million in sales and a 3.5% share), Jackson National Perspective II ($774.6 million, 3.22%), AXA Accumulator 2008 ($690.7 million, 2.87% ), and RiverSource RAVA4 Advantage ($669.6 million, 2.8%). Frank O’Connor is manager of Morningstar’s variable annuity software applications. Sales Rank Contract Name 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Allianz Life Ins Co of North America Allianz Vision Variable Annuity Life Insurance Co. Portfolio Director Plus John Hancock Life Insurance Co (USA) Venture III Jackson Natl Life Insurance Co Perspective II Axa Equitable Life Insurance Co Accumulator 2008 Riversource Life Insurance Co RVS RAVA4 Advantage Metropolitan Life Insurance Preference Plus Select John Hancock Life Insurance Co (USA) Venture (2006) Metlife Investors USA Insurance Co MetLife Investors Series L-4 Year ING USA Annuity and Life Insurance Co GoldenSelect Landmark Axa Equitable Life Insurance Co Accumulator Elite 2008 Prudential Annuities Life Assurance Corp APEX II Jackson Natl Life Insurance Co Perspective L Series ING USA Annuity and Life Insurance Co GoldenSelect ES II Fidelity Investments Life Ins Fidelity Growth and Guaranteed Income I Pacific Life Insurance Co Pacific Innovations Select Metlife Investors USA Insurance Co MetLife Investors Series VA Axa Equitable Life Insurance Co Accumulator Plus 2008 Lincoln National Life Insurance Company American Legacy III View Sun Life Assurance Co Of Canada Us Masters Flex Hartford Life Insurance Company Leaders 4 Prudential Annuities Life Assurance Corp XTra Credit Eight John Hancock Life Insurance Co (USA) Venture Opportunity A Share Pacific Life Insurance Co Pacific Voyages New England Life Insurance Co American Forerunner Series Riversource Life Insurance Co RVS RAVA4 Select Prudential Annuities Life Assurance Corp Advisors Plan III Prudential Annuities Life Assurance Corp XTra Credit Six Massachusetts Mutual Life Insurance Transitions Select MetLife Investors Insurance Company MetLife Investors Class A Lincoln National Life Insurance Company American Legacy III Pruco Life Insurance Premier VA X Series Ohio National Life Insurance Co ONcore Lite Lincoln National Life Insurance Company ChoicePlus Assur. (B Share) Lincoln National Life Insurance Company ChoicePlus Assur. (L Share) Hartford Life Insurance Company Leaders Outlook 4 ING USA Annuity and Life Insurance Co GoldenSelect PREMIUM PLUS Thrivent Financial For Lutherans Thrivent - Flexible Prem. DVA 2005 Pruco Life Insurance Premier VA L Series Metlife Investors USA Insurance Co MetLife Investors Series XTRA Lincoln National Life Insurance Company ChoicePlus Assur. (A Share) Metlife Investors USA Insurance Co PrimElite IV Pacific Life Insurance Co Pacific Value Axa Equitable Life Insurance Co Accumulator Elite 2007 Transamerica Life Insurance Company Liberty Lincoln National Life Insurance Company Am. Leg. Shareholder's Advan. Nationwide Life Insurance Co BOA - America's Future II Metlife Investors USA Insurance Co MetLife Investors Series XC VA Axa Equitable Life Insurance Co Accumulator 2007 MetLife Investors Insurance Company MetLife Investors Class L Data as of March 31, 2009 GMWB Guaranteed Minimum Withdrawal Benefit GMIB Guaranteed Minimum Income Benefit 76 Morningstar Advisor August /September 2009
Morningstar Advisor - August/September 2009

Table of Contents for the Digital Edition of Morningstar Advisor - August/September 2009
