Best’s News & Research Service - June 27, 2025 10:58 AM (EDT)
Best's Rankings: Pru Moves to Top Spot in US Group Annuities, Followed by Aegon
OLDWICK, N.J. //BestWire// - The U.S. group annuities industry's total group premiums rose 41.2% in 2024 to reach $164.18 billion, according to a new Best's Rankings report.
Prudential Group of America, which moved up two spots into the No. 1 position on the list, saw its group annuities premiums increase 233.8% in 2024 to $41.13 billion, according to the data.
Second-place Aegon USA Group, which moved up from the No. 4 position a year earlier, reported group annuity premiums of $15.42 billion in 2024, an increase of 33.5%.
In the third spot, John Hancock Life Insurance Group took in $13.71 billion in premiums for the full year, an increase of 5.1% from 2023, according to the data. John Hancock held second place a year earlier.
Voya Financial Group moved down the list in 2024, going to No. 4 after taking the top spot a year earlier. Its group annuity premiums of $13.28 billion rose 0.5% from 2023, according to the data. TIAA Group rounded out the top five, with $12.35 billion in group annuity premiums up by 9.5%, according to the ranking.
The one-page ranking lists the top 25 companies in the group annuities industry, along with their total premiums for the segment in 2024 and the percentage change.
Subscribers can access the report and data here.
Learn more about Best’s News and Research Service.
AM Best data sourced from Best’s Financial Suite, US.
(By Terrence Dopp, senior associate editor, Best’s Review: Terry.Dopp@ambest.com)