Q1 2026 Annuity Sales Hold Steady at $99.4 Billion
The U.S. annuity market opened 2026 on stable footing, with total first-quarter sales reaching $99.4 billion — just shy of the $100 billion threshold and essentially flat compared to the same period last year, according to Wink, Inc.‘s quarterly sales report released June 1, 2026.
While the $99.4 billion figure represents a modest 0.8% increase over Q1 2025, it marks a seasonal decline from the $117 billion reported in the fourth quarter of 2025 — a pattern consistent with historical trends where the first quarter typically serves as the annual low-water mark for annuity sales. For context, the annuity market has now posted four consecutive quarters near or above the $100 billion mark, underscoring the sustained demand for guaranteed retirement income products.
Top Carriers and Market Leaders
Athene USA claimed the top spot as the leading annuity carrier overall with a 7.3% market share. Jackson National Life followed in second place, while New York Life, Equitable Financial, and Nationwide rounded out the top five carriers in the total annuity market. This marks continued dominance for Athene, which was recently in the news when Matthew Michelini was named Athene president with an explicit focus on annuity growth.
In the deferred annuity segment — which accounted for $96.9 billion of total sales — Athene USA also led with 7.4% market share. Equitable Financial’s Structured Capital Strategies Plus 21 was the best-selling deferred annuity product across all channels for the quarter.
Category-by-Category Breakdown
The Wink report tracks seven distinct annuity product categories, each showing unique performance patterns in Q1 2026. Understanding these categories is essential for consumers comparing insurance and retirement products to find the right fit.
Q1 2026 Annuity Sales by Product Type
| Product Type | Q1 2026 Sales | vs. Q4 2025 | vs. Q1 2025 | Market Leader |
|---|---|---|---|---|
| MYG Annuities | $32.1B | -15.0% | -9.6% | Athene USA (12.8%) |
| Indexed Annuities | $26.5B | -21.7% | -1.7% | Athene USA (9.6%) |
| Structured Annuities | $20.3B | -4.5% | +24.1% | Equitable Financial (19.7%) |
| Variable Annuities | $17.0B | -9.0% | +7.1% | Jackson National (21.8%) |
| Income Annuities | $2.7B | -23.9% | -13.8% | New York Life (45.5%) |
| Traditional Fixed | $506.9M | -11.0% | +1.8% | Nationwide (18.0%) |
| Deferred Income | $531.3M | -36.2% | -20.9% | New York Life (49.0%) |
Source: Wink, Inc. Q1 2026 Annuity Sales Report. Figures may not sum due to rounding.
Indexed Annuities Hit Three-Year Low
One of the most notable findings in Wink’s report was the performance of indexed annuities, which fell to $26.5 billion — their lowest level in nearly three years. Sheryl Moore, CEO of Wink, Inc. and Moore Market Intelligence, attributed this decline to shifting market dynamics.
“This is the lowest indexed annuity sales have been in nearly three years,” Moore stated. “With the market’s upward movement since the beginning of Q2 2026, I anticipate that indexed annuities will continue to lose market share to structured and variable annuities.”
This trend is significant for consumers who may be shopping for life insurance-adjacent products. As we’ve covered in our guide to determining life insurance coverage needs, indexed products can serve different roles in a financial plan depending on market conditions.
Structured Annuities Continue Long-Term Growth
Structured annuities — also known as Registered Index-Linked Annuities (RILAs) — continued their multi-year growth trajectory despite a 4.5% quarterly dip. Equitable Financial dominated this segment with a 19.7% market share, and its Structured Capital Strategies Plus 21 product ranked as the top-selling structured annuity for the eighth consecutive quarter.
“Structured annuities have been trending upward over the last eight years,” Moore observed. “I am curious how long it will be before structured sales account for more sales than indexed annuities, given the current market environment.”
The growing preference for structured products reflects a broader consumer trend toward products that balance growth potential with downside protection — similar to how many consumers approach comparing whole life versus term life insurance based on their risk tolerance and financial goals.
Variable and Income Annuity Trends
Variable annuity sales reached $17 billion in Q1 2026, representing a 7.1% year-over-year increase. Jackson National Life maintained its commanding lead in this category with a 21.8% market share, marking the 28th consecutive quarter that its Perspective II product was the No. 1 selling variable annuity.
Meanwhile, income annuity sales — including immediate and deferred income products — totaled $2.7 billion, with New York Life commanding a dominant 45.5% market share. The NAIC’s consumer resources on life insurance and annuities provide additional guidance for those evaluating income annuity options.
Top 5 Annuity Carriers by Total Q1 2026 Market Share
| Rank | Carrier | Market Share |
|---|---|---|
| 1 | Athene USA | 7.3% |
| 2 | Jackson National Life | Top 5 |
| 3 | New York Life | Top 5 |
| 4 | Equitable Financial | Top 5 |
| 5 | Nationwide | Top 5 |
What These Trends Mean for Consumers
The stability in overall annuity sales — hovering near $100 billion per quarter — signals continued strong demand for guaranteed retirement income products. For consumers, the key takeaways from the Wink report are:
- More choices than ever: With seven distinct product categories spanning MYGAs, indexed, structured, variable, fixed, immediate income, and deferred income annuities, consumers can match annuity types to their specific retirement needs, risk tolerance, and income goals.
- Structured annuities gaining ground: RILAs offer a middle ground between growth potential and downside protection, making them increasingly attractive to pre-retirees who want market exposure without unlimited downside risk.
- MYGAs remain the largest category: At $32.1 billion, multi-year guaranteed annuities appeal to savers seeking guaranteed returns in a rate-conscious environment where predictability matters.
- Variable annuities showing strength: The 7.1% year-over-year growth in variable annuity sales reflects growing consumer confidence in equity-linked retirement products amid favorable market conditions.
- Shop around for the best rates: With numerous carriers competing across categories, consumers benefit from comparing quotes to find the best combination of rates, features, and financial strength from providers listed on life insurance company reviews.
Industry Outlook
Looking ahead to Q2 2026, Moore’s prediction that structured and variable annuities will continue gaining market share at the expense of indexed products bears watching. The continued upward movement in equity markets favors products with market-linked growth potential, while the enduring appeal of guaranteed income keeps MYGA and fixed annuity sales resilient.
For advisors and consumers alike, the data confirms that annuities remain a cornerstone of American retirement planning — with nearly $100 billion in new sales each quarter underscoring their role in providing guaranteed lifetime income, principal protection, and tax-deferred growth. As the IRS notes in its retirement planning resources, annuities can play an important role in a diversified retirement strategy.
Frequently Asked Questions About Annuities in 2026
What were total annuity sales in Q1 2026?
Total U.S. annuity sales reached $99.4 billion in the first quarter of 2026, up 0.8% compared to Q1 2025 but down from $117 billion in Q4 2025, according to Wink, Inc.’s quarterly report.
Which company sold the most annuities in Q1 2026?
Athene USA was the No. 1 carrier overall for annuity sales with a 7.3% market share, followed by Jackson National Life, New York Life, Equitable Financial, and Nationwide completing the top five.
What is the difference between structured and indexed annuities?
Indexed annuities have a floor of no less than zero percent and limited excess interest based on an external index. Structured annuities (RILAs) have a limited negative floor and limited excess interest — they offer more upside potential but can sustain limited losses in down markets.
Are annuity sales growing or declining in 2026?
Overall annuity sales are essentially flat year-over-year at $99.4 billion. However, structured annuities grew 24.1% and variable annuities grew 7.1% versus Q1 2025, while indexed annuities hit a three-year low at $26.5 billion.
What is a MYGA annuity?
A Multi-Year Guaranteed Annuity (MYGA) offers a fixed interest rate guaranteed for a set period of more than one year. MYGAs were the largest annuity category in Q1 2026 at $32.1 billion, led by Athene USA with 12.8% market share.
How can I compare annuity rates from different companies?
Comparing annuity quotes from multiple highly-rated carriers is the best way to find competitive rates. Use a comparison tool to get personalized annuity quotes based on your age, investment amount, and income goals.
Who regulates annuities in the United States?
Annuities are primarily regulated at the state level by insurance commissioners, with the National Association of Insurance Commissioners (NAIC) providing model regulations and coordination among states to protect consumers.
Ready to explore your annuity options? Compare annuity quotes from top-rated carriers and find the best rates for your retirement income needs at LifeQuotesWeb.com.
Key Takeaways from the Wink Q1 2026 Report
For consumers and financial professionals tracking the annuity landscape, several strategic themes emerge from the first-quarter data:
- Market concentration is increasing: The top five carriers — Athene, Jackson National, New York Life, Equitable Financial, and Nationwide — collectively dominate sales across nearly every product category, which means consumers comparing insurance company ratings and reviews should prioritize these market leaders when shopping for competitive rates.
- Product innovation drives growth: Structured annuities (RILAs) grew 24.1% year-over-year, demonstrating that consumers are actively seeking products that blend protection with market upside — a trend insurers are responding to with expanded product offerings.
- The income annuity market remains niche but vital: Despite representing just 2.7% of total annuity sales at $2.7 billion, income annuities serve a critical role for retirees seeking guaranteed lifetime income, with New York Life commanding nearly half the market.
- Seasonal patterns persist: The Q4-to-Q1 decline from $117 billion to $99.4 billion follows a well-established seasonal pattern, suggesting the market will likely rebound in subsequent quarters as has historically occurred.
As the annuity industry continues to evolve, staying informed about market trends and product innovations helps consumers make better decisions about their retirement income strategies. Whether you’re considering a MYGA for guaranteed returns, a structured annuity for balanced growth, or a variable annuity for maximum market exposure, comparing options from multiple carriers remains the best approach to finding the right fit for your financial goals.
Related Life Insurance Resources
- Term Life Insurance Rates by Age: Complete 2026 Price Chart
- Burial Insurance for Seniors Over 70: 2026 Guide to Affordable Coverage
- No Medical Exam Life Insurance in 2026: Instant Coverage Without a Physical
- Whole Life Insurance Rates by Age: Complete Cost Chart 2025
- Life Insurance for Smokers\: How to Get Affordable Coverage
How to Choose the Right Annuity for Your Retirement
With seven distinct annuity types available, choosing the right one requires evaluating several key factors:
- Your risk tolerance: If you want zero market risk, consider MYGAs or traditional fixed annuities. If you can tolerate some downside for higher potential returns, structured or variable annuities may be a better fit.
- Your time horizon: MYGAs lock in rates for specific periods (typically 3-10 years), while variable annuities are designed for longer-term growth. Income annuities can provide lifetime payments starting immediately or at a future date.
- Your income needs: If you need guaranteed monthly income for life, immediate or deferred income annuities are purpose-built for this. If you’re focused on accumulation, deferred annuities offer tax-deferred growth.
- Carrier financial strength: Always check ratings from independent agencies like AM Best before purchasing any annuity. The strongest carriers, like New York Life and MassMutual, consistently earn top ratings for claims-paying ability.
