06.01.26

Flat First-Quarter Annuity Sales Fall Just Short of $100 Billion

by: John Hilton

Wink’s Q1 data show total U.S. annuity sales were essentially flat year over year at $99.4 billion, though down from the prior quarter as seasonality weighed on results. Growth was mixed across product types, with deferred annuities up modestly year over year but down sharply quarter over quarter, reflecting cooling momentum after the strong interest-rate-driven demand seen in 2025. Multi-year guaranteed annuities remained a key driver at $32.1 billion, while indexed annuities declined both sequentially and annually, marking their weakest level in nearly three years. Structured annuities continued to grow in importance relative to indexed products, even as overall sales softened. Variable annuities rose year over year, while income annuities declined. Athene and Jackson National led across several categories, highlighting continued market concentration among top carriers despite shifting product demand trends.

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