Aviva USA is No. 1 seller of equity-indexed annuities.Aviva USA became the No. 1 seller of equity-indexed annuities equity-indexed annuity A contract with an insurance company that promises periodic payments keyed in a specified manner to a stock market index. Unlike variable annuities, equity-indexed annuities specify a guaranteed minimum return that is typically 3%. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in the first quarter, overtaking o·ver·take tr.v. o·ver·took , o·ver·tak·en , o·ver·tak·ing, o·ver·takes 1. a. To catch up with; draw even or level with. b. To pass after catching up with. 2. long-time leader Allianz Life Insurance Company of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. AnnuitySpecs.com. Total sales of these annuities, meanwhile, rose only about half a percent from last year's first quarter, to $5.7 billion. Sheryl J. Moore, president and chief executive officer of AnnuitySpecs.com, dubbed dub 1 tr.v. dubbed, dub·bing, dubs 1. To tap lightly on the shoulder by way of conferring knighthood. 2. To honor with a new title or description. 3. it "a very surprising quarter" as it was the first time a carrier took the title for both indexed annuities as well as indexed life insurance. Allianz Life losing its title after so many years "was a big upset," she said. Allianz Life had dominated the top spot for indexed annuity sales since 2000. First-quarter sales of indexed annuities for Aviva USA, a unit of Aviva plc, the U.K.-based insurance giant, were $1.2 billion--capturing a 21.1% market share. In November 2006, Aviva plc completed its $2.9 billion acquisition of Iowa-based life insurer AmerUs Group Co. as Aviva expanded into the United States to seek a slice of its lucrative long-term savings market. 1Q Fixed Annuity Sales Driven mostly by sales of book value annuities in banks, first-quarter 2008 sales of fixed annuities in the United States, including equity indexed, increased 35.2% to an estimated $18.8 billion. AIG Annuity insurance Co. $2.72 billion New York Life $1.41 billion Aviva USA $1.28 billion Allianz Life $1.14 billion Principal Financial $766 million Allstate Financial $656 million American National $585 million Jackson National Life $584 million Genworth Financial $569 million Protective Life $561 million Source: Beacon Research |
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