U.K.’s Prudential Extends U.S. Variable Annuity Lead
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Prudential Plc, the largest U.K. insurer by market value, extended its lead in U.S. variable annuity sales at its Jackson National Life unit as rivals scaled back.
Jackson sold $12.7 billion of the retirement contracts in the first six months of 2014, an increase of 24 percent from a year earlier, according to data released yesterday by the Limra Secure Retirement Institute. Industrywide sales fell 4 percent to $70.4 billion.