Lincoln Annuity Sales Top $10 Billion as Insurers Back Away
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Lincoln National Corp. topped $10 billion in individual variable annuity sales in the nine months ended Sept. 30, the most in at least six years, as rivals retreated from the contracts.
Sales surged 48 percent to $10.8 billion from $7.26 billion a year earlier, making Radnor, Pennsylvania-based Lincoln the second-largest seller of the products, according to data compiled by industry group Limra. Prudential Plc’s Jackson National Life was No. 1 at $15.5 billion.