๐Ÿ‡จ๐Ÿ‡ฆ Manulife's Third-Quarter Core Earnings Rise 4% to C$2.1 Billion and Core EPS Hits a Record C$1.24, While Reported Net Income Falls to C$1.4 Billion on Market Losses โ€” Manulife Financial Corporation (third-quarter 2026 press release, Form 6-K filed with the SEC, November 4, 2026)๐Ÿ‡จ๐Ÿ‡ฆ Sun Life's Third-Quarter Underlying Net Income Rises 9% to C$1.15 Billion, but Reported Net Income Falls 29% to C$785 Million and Wealth Outflows Reach C$32.7 Billion โ€” Sun Life Financial Inc. (third-quarter 2026 results release, Form 6-K filed with the SEC, November 4, 2026)๐Ÿ‡บ๐Ÿ‡ธ Aflac's Third-Quarter Net Earnings Drop to $303 Million After $1.1 Billion of Portfolio-Repositioning Losses, While Adjusted EPS Edges Down 2.4% to $2.43 and Japan's Margin Narrows โ€” Aflac Incorporated (third-quarter 2026 earnings release, SEC Exhibit 99.1, November 4, 2026)๐Ÿ‡บ๐Ÿ‡ธ Prudential Financial's Third-Quarter Adjusted Operating Income Falls to $1.32 Billion as the Prudential of Japan Sales Suspension Cuts Japan Earnings 25% โ€” Prudential Financial, Inc. (third-quarter 2026 earnings release, SEC Exhibit 99.1, November 3, 2026)๐Ÿ‡บ๐Ÿ‡ธ Lemonade's Third-Quarter In-Force Premium Jumps 34% to $1.55 Billion and Revenue Rises 73% to $336 Million, With the Net Loss at $43.7 Million and a Positive-EBITDA Quarter Promised for Q4 โ€” Lemonade, Inc. (third-quarter 2026 shareholder letter, Form 8-K exhibit filed with the SEC)๐Ÿ‡บ๐Ÿ‡ธ Corebridge Financial's Third-Quarter Operating EPS Rises 27% to $1.22 as the Share Count Falls 17%, With the Equitable Merger Reported to Be Making 'Significant Progress' โ€” Corebridge Financial, Inc. (third-quarter 2026 earnings press release, Form 8-K, November 2, 2026)๐Ÿ‡บ๐Ÿ‡ธ Jackson Financial's Third-Quarter Adjusted Operating Earnings Rise to $517 Million as Record RILA Sales of $3.0 Billion Lift Retail Annuity Sales 22% โ€” Jackson Financial Inc. (third-quarter 2026 earnings release, SEC Exhibit 99.1)๐Ÿ‡จ๐Ÿ‡ฆ Fairfax Financial's Third-Quarter Net Earnings Fall to $1,097 Million as an $859 Million Investment Loss Offsets Higher Insurance Revenue and a Stronger Underwriting Result โ€” Fairfax Financial Holdings Limited (third-quarter 2026 interim report, Form 6-K filed with the SEC)๐Ÿ‡ฆ๐Ÿ‡บ A Magnitude 4.9 Earthquake Off South Australia Shook Adelaide: What Australian Home Insurance Covers and Why Earthquake Deductibles and Aftershock Clauses Matter โ€” Insurance Business Australia (reporting Geoscience Australia and insurance commentary)๐Ÿ‡ฎ๐Ÿ‡ณ SBI Life's First-Half FY27 Profit Rises 17% to Rs 1,270 Crore and Value of New Business Climbs 19% to Rs 3,270 Crore, While Costs Take a Larger Share of Premium โ€” Kotak Neo (report on SBI Life Insurance's H1 FY27 results)๐Ÿ‡จ๐Ÿ‡ฆ Manulife's Third-Quarter Core Earnings Rise 4% to C$2.1 Billion and Core EPS Hits a Record C$1.24, While Reported Net Income Falls to C$1.4 Billion on Market Losses โ€” Manulife Financial Corporation (third-quarter 2026 press release, Form 6-K filed with the SEC, November 4, 2026)๐Ÿ‡จ๐Ÿ‡ฆ Sun Life's Third-Quarter Underlying Net Income Rises 9% to C$1.15 Billion, but Reported Net Income Falls 29% to C$785 Million and Wealth Outflows Reach C$32.7 Billion โ€” Sun Life Financial Inc. (third-quarter 2026 results release, Form 6-K filed with the SEC, November 4, 2026)๐Ÿ‡บ๐Ÿ‡ธ Aflac's Third-Quarter Net Earnings Drop to $303 Million After $1.1 Billion of Portfolio-Repositioning Losses, While Adjusted EPS Edges Down 2.4% to $2.43 and Japan's Margin Narrows โ€” Aflac Incorporated (third-quarter 2026 earnings release, SEC Exhibit 99.1, November 4, 2026)๐Ÿ‡บ๐Ÿ‡ธ Prudential Financial's Third-Quarter Adjusted Operating Income Falls to $1.32 Billion as the Prudential of Japan Sales Suspension Cuts Japan Earnings 25% โ€” Prudential Financial, Inc. (third-quarter 2026 earnings release, SEC Exhibit 99.1, November 3, 2026)๐Ÿ‡บ๐Ÿ‡ธ Lemonade's Third-Quarter In-Force Premium Jumps 34% to $1.55 Billion and Revenue Rises 73% to $336 Million, With the Net Loss at $43.7 Million and a Positive-EBITDA Quarter Promised for Q4 โ€” Lemonade, Inc. (third-quarter 2026 shareholder letter, Form 8-K exhibit filed with the SEC)๐Ÿ‡บ๐Ÿ‡ธ Corebridge Financial's Third-Quarter Operating EPS Rises 27% to $1.22 as the Share Count Falls 17%, With the Equitable Merger Reported to Be Making 'Significant Progress' โ€” Corebridge Financial, Inc. (third-quarter 2026 earnings press release, Form 8-K, November 2, 2026)๐Ÿ‡บ๐Ÿ‡ธ Jackson Financial's Third-Quarter Adjusted Operating Earnings Rise to $517 Million as Record RILA Sales of $3.0 Billion Lift Retail Annuity Sales 22% โ€” Jackson Financial Inc. (third-quarter 2026 earnings release, SEC Exhibit 99.1)๐Ÿ‡จ๐Ÿ‡ฆ Fairfax Financial's Third-Quarter Net Earnings Fall to $1,097 Million as an $859 Million Investment Loss Offsets Higher Insurance Revenue and a Stronger Underwriting Result โ€” Fairfax Financial Holdings Limited (third-quarter 2026 interim report, Form 6-K filed with the SEC)๐Ÿ‡ฆ๐Ÿ‡บ A Magnitude 4.9 Earthquake Off South Australia Shook Adelaide: What Australian Home Insurance Covers and Why Earthquake Deductibles and Aftershock Clauses Matter โ€” Insurance Business Australia (reporting Geoscience Australia and insurance commentary)๐Ÿ‡ฎ๐Ÿ‡ณ SBI Life's First-Half FY27 Profit Rises 17% to Rs 1,270 Crore and Value of New Business Climbs 19% to Rs 3,270 Crore, While Costs Take a Larger Share of Premium โ€” Kotak Neo (report on SBI Life Insurance's H1 FY27 results)
US life insurance and annuity sales momentum in 2026 (illustrative)
Life Insurance๐Ÿ‡บ๐Ÿ‡ธUnited States

LIMRA: US Annuity Sales Hold at $104.6 Billion, a 10th Straight $100 Billion Quarter, as New Life Premium Rises 10% in Q1 2026

PolicyRix Editorialยทยท8 min read
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LIMRA's preliminary Q1 2026 data show annuity sales of $104.6 billion (down 2%), RILA sales up 21% to $21.2 billion, and new annualised life premium up 10% to $4.5 billion.

Americans bought more than $100 billion of annuities for the tenth quarter in a row, according to preliminary data from LIMRA, the life insurance and retirement industry research group. Total US annuity sales were $104.6 billion in the first quarter of 2026, down 2% from a year earlier, with the data covering 87% of the market. LIMRA's Bryan Hodgens said the threshold for annuity sales appears to have stabilised above $100 billion. A separate LIMRA report, covered by Insurance Business, shows that new life insurance premium also rose strongly. This article summarises both. An earlier version of this article did not make clear that the annuity total was slightly lower than a year earlier; it fell 2%, and the article now says so. The data are preliminary and may be revised. The earlier version also attributed annuity and RILA figures to the Insurance Business life report, which does not contain them; they come from LIMRA's own annuity release.

Which annuities are selling? Registered index-linked annuities, known as RILAs, were the standout. Sales rose 21% to $21.2 billion, the second-highest quarter on record and the 30th straight quarter of year-over-year growth. LIMRA forecasts that 2026 RILA sales will exceed the record set in 2025. A RILA gives buyers a return linked to a market index with a degree of downside protection, but, unlike a fixed annuity, it can lose value in a falling market within set limits. Traditional variable annuities rose 9% to $16.1 billion, their third consecutive quarter of year-over-year growth.

Other categories fell. Fixed-rate deferred annuities, which pay a set interest rate, were down 16% to $34 billion, though still about a third of the total market. Fixed indexed annuities (FIAs) were $26.6 billion, down 4%. Single premium immediate annuities (SPIAs), which turn a lump sum into immediate income, rose 22% to $3.7 billion, and deferred income annuities rose 6% to $1 billion. Together these figures suggest buyers are moving some money from fixed products to those linked to markets or to income, though LIMRA's release does not explain the reasons, and we do not offer one.

How is life insurance doing? According to LIMRA's preliminary data reported by Insurance Business, total new annualised premium plus excess was $4.5 billion in the first quarter, up 10% year over year, with the policy count up 9%. A year earlier the figure was $3.9 billion. LIMRA forecasts growth of 2% to 6% in 2026, compared with a long-run average of 3.1%, so the first quarter is well ahead of that range. Full-year 2025 new annualised premium exceeded $17.5 billion, up 10%, a record.

By product, whole life made up 36% of the market, with new premium up 9% to $1.6 billion and policy count up 13%. Indexed universal life (IUL) premium rose 14% to $1.1 billion, or 25% of the total, and six of the top ten IUL carriers posted double-digit policy growth. Variable universal life premium rose 12% to $729 million. Term life premium rose 9% to $788 million. Fixed universal life fell 6% to $221 million, its sixth straight quarterly decline. IUL is a life insurance product, not an annuity, and these figures should not be combined with the annuity data.

What do LIMRA's analysts say? Sean Grindall of LIMRA said demand for life insurance has not waned despite consumer financial worries. Karen Terry of LIMRA noted that many traditional whole life carriers are seeing flat to negative growth, and credited whole life's strength largely to final expense products, which are smaller policies designed to pay funeral and end-of-life costs. That comment is a useful caution: growth at the market level does not mean that every insurer is doing well.

Why do these numbers matter? Annuities are a major route by which insurers collect long-term funds that they invest in bonds and other assets. High sales help explain why insurers have expanded into private credit and other assets, a trend covered elsewhere on this site by Moody's report. Consumers who buy an annuity are relying on the insurer's financial strength for decades, so the stability of the insurer matters as much as the product features.

What should buyers consider? Annuities differ greatly. Fixed annuities offer a stated rate, but the rate may not keep pace with inflation. RILAs and variable annuities carry market risk, fees and surrender charges. Immediate annuities pay income but are usually irreversible. Buyers should compare the insurer's financial strength rating, the fees, the surrender period and the guarantees, and consider whether the product suits their goals. An independent adviser who is paid by fee and not by commission can help, though the quality of advice varies.

It is worth remembering that sales are not the same as assets or profits. A record quarter of RILA sales means insurers are taking in new money on those products, but the performance of each product depends on markets and on how well the insurer hedges its promises. LIMRA's figures describe the flow of new business, and say nothing about customer satisfaction or the value the products deliver.

This article summarises industry sales data and is general information. It is not financial or investment advice, and past sales do not predict future trends.

Key Points

  • 1US annuity sales were $104.6 billion in Q1 2026, down 2% year over year, the tenth consecutive quarter above $100 billion; LIMRA says the threshold 'appears to be stabilized above $100 billion'.
  • 2Registered index-linked annuity (RILA) sales rose 21% to $21.2 billion, the second-highest quarter on record and the 30th straight quarter of year-over-year growth.
  • 3Fixed-rate deferred annuities fell 16% to $34 billion and fixed indexed annuities fell 4% to $26.6 billion; traditional variable annuities rose 9% to $16.1 billion.
  • 4New annualised life insurance premium rose 10% to $4.5 billion, with policy count up 9%; LIMRA forecasts 2026 growth of 2% to 6%.
  • 5Whole life made up 36% of the market, indexed universal life 25% (up 14% to $1.1 billion); fixed universal life fell 6% for a sixth straight decline.

Why This Matters

Annuities and life insurance are how many Americans secure retirement income and protect their families. Shifts between product types show how consumers respond to interest rates, market risk and the need for guaranteed income.

#limra#annuity sales#rila#life insurance#indexed universal life#retirement income
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, legal, or insurance advice. Always consult a qualified professional before making financial decisions. PolicyRix reports on publicly available information from third-party sources and cannot guarantee the accuracy or completeness of such information.

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