Best’s News & Research Service - June 27, 2025 10:46 AM (EDT)
Best's Rankings: US Individual Annuities Premiums For Life Contracts Rise 9.9% to $266.19 Billion
OLDWICK, N.J. //BestWire// - U.S. individual annuities premiums for life contracts increased 9.9% in 2024 to $266.19 billion, according to a new Best's Rankings report.
All of the top-10 writers changed positions from the prior year. Massachusetts Mutual Life Group dropped to No. 7 from No. 1 in 2023 as premiums declined 24.5% to $15.74 billion.
Corebridge Financial, which fell to No. 6 in 2024, was No. 2 in the line in 2023. It decreased premiums by 23.2% to $15.85 billion.
First-placed Allianz Life Insurance Group increased premiums 24.4% to $20.83 billion, advancing from No. 3.
New York Life Group's premiums were up 42.7% to $20.29 billion as it moved from fifth place to No. 2.
The ranking lists individual annuities premiums for 2024 and the percent change from the prior year.
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AM Best data sourced from Best’s Financial Suite, US.
(By Renée Kiriluk-Hill, senior associate editor, BestWire: Renee.Kiriluk-Hill@ambest.com)