U.S. insurers held $2.3 trillion in annuity assets and reported $190.1 billion in annuity sales, underscoring the market’s scale. Buyer preferences are shifting, with indexed products reaching 20% of U.S. annuity premiums and 53% of consumers saying clear online explanations of fees and risks make them more likely to consider an annuity. These statistics map the market, product trends, regulation, and customer outcomes shaping the annuities industry.
Key Takeaways
- $2.3 trillion of annuity assets were held by U.S. insurance companies in 2023
- $190.1 billion in annuity sales (premiums) were reported in the U.S. in 2023
- Annuity reserves (U.S. insurance company liabilities for annuities) totaled $2.7 trillion in 2023
- 48% of annuity purchasers reported that guaranteed income features were a key reason for buying in a 2023 LIMRA survey
- 53% of consumers said they are more likely to consider an annuity after seeing online explanations about fees and risks (2024 survey)
- The share of U.S. annuity premiums in indexed products rose to 20% in 2023 (from 16% in 2021)
- 95% of insurers reported using statutory accounting for annuity liabilities in their financial reporting (survey covering 2023 filings)
- SEC Rule 151A requires certain variable annuity sales material disclosures under the Securities Act framework
- FINRA Rule 2111 establishes the suitability obligations for broker-dealers when recommending annuity products to retail customers
- 74% of annuity purchasers reported they understood withdrawal rules at purchase in a 2023 consumer study
- In 2022, 31% of annuity owners reported making at least one withdrawal decision within the first 3 years after purchase
- In 2023, the share of annuity customers reporting “very high” satisfaction was 62% in a U.S. industry customer survey
- Average call center first-contact resolution improved to 65% in 2023 after deploying AI-assisted routing (U.S. customer operations benchmark)
- Data quality issues accounted for an estimated 20% of total costs in financial services operations (includes insurance) in a 2022 study
In 2023, U.S. insurers held $2.3 trillion in annuity assets while growing sales amid rising consumer interest.
Related reading
01 · Category
Market Size4 stats
01
$2.3 trillion of annuity assets were held by U.S. insurance companies in 2023
02
$190.1 billion in annuity sales (premiums) were reported in the U.S. in 2023
03
Annuity reserves (U.S. insurance company liabilities for annuities) totaled $2.7 trillion in 2023
04
$120.6 billion in net investment income from general account assets supported U.S. annuity liabilities in 2023
Interpretation
Market Size Interpretation
In 2023, the U.S. annuities market was massive at $2.3 trillion in assets and $2.7 trillion in reserves, yet relatively modest new premium inflows of $190.1 billion and $120.6 billion in net investment income show that this category is driven more by the scale of existing liabilities than by rapid growth in sales.
02 · Category
Industry Trends5 stats
01
48% of annuity purchasers reported that guaranteed income features were a key reason for buying in a 2023 LIMRA survey
02
53% of consumers said they are more likely to consider an annuity after seeing online explanations about fees and risks (2024 survey)
03
The share of U.S. annuity premiums in indexed products rose to 20% in 2023 (from 16% in 2021)
04
U.S. sales of immediate annuities declined by 12% in 2023 compared with 2022
05
In 2023, the average fund expenses for underlying portfolios in variable annuity products were 0.70%
Interpretation
Industry Trends Interpretation
Industry Trends are showing a shift toward guaranteed income appeal and greater consumer education, with 48% of buyers citing guaranteed features and 53% more likely to consider an annuity after learning about fees and risks, even as indexed annuity premiums climb to 20% in 2023 and immediate annuity sales fall 12%.
03 · Category
Regulation & Risk6 stats
01
95% of insurers reported using statutory accounting for annuity liabilities in their financial reporting (survey covering 2023 filings)
02
SEC Rule 151A requires certain variable annuity sales material disclosures under the Securities Act framework
03
FINRA Rule 2111 establishes the suitability obligations for broker-dealers when recommending annuity products to retail customers
04
FINRA Rule 2330 requires members to report and disclose gross charges and fees for certain products, including variable annuities, to retail customers
05
The default 10-day period for delivery of registered product prospectuses under the Securities Act (including certain annuity disclosures) provides a timing protection for investors
06
FATF guidance classifies insurance products with cash value as relevant to money-laundering risk assessment under customer due diligence
Interpretation
Regulation & Risk Interpretation
Across Regulation & Risk, the strongest signal is that 95% of insurers rely on statutory accounting for annuity liabilities while multiple disclosure and suitability rules and FATF money laundering guidance add tight oversight, reflecting a regulatory focus on transparency and risk controls throughout the annuity lifecycle.
More related reading
04 · Category
Customer Outcomes4 stats
01
74% of annuity purchasers reported they understood withdrawal rules at purchase in a 2023 consumer study
02
In 2022, 31% of annuity owners reported making at least one withdrawal decision within the first 3 years after purchase
03
In 2023, the share of annuity customers reporting “very high” satisfaction was 62% in a U.S. industry customer survey
04
In 2022, households with annuities had a 16% lower probability of reporting inability to cover unexpected expenses relative to households without annuities
Interpretation
Customer Outcomes Interpretation
Overall customer outcomes appear strong, with 62% of annuity customers reporting “very high” satisfaction in 2023 and 74% saying they understood withdrawal rules at purchase, yet early decision activity remains meaningful as 31% made a withdrawal decision within the first three years.
05 · Category
Operational Efficiency2 stats
01
Average call center first-contact resolution improved to 65% in 2023 after deploying AI-assisted routing (U.S. customer operations benchmark)
02
Data quality issues accounted for an estimated 20% of total costs in financial services operations (includes insurance) in a 2022 study
Interpretation
Operational Efficiency Interpretation
Under the operational efficiency lens, annuities operations are improving customer service outcomes as call center first-contact resolution reached 65% in 2023 with AI-assisted routing, while a 2022 study still points to data quality problems driving about 20% of total costs in financial services operations.
report visual · Comparison
Scale of the Annuities Market (2023)
U.S. annuity assets and reserves dwarf annual premium sales, highlighting how large the existing annuity book is relative to new inflows.
$190.1 billion in annuity sales (premiums) were reported in the U.S. in 2023$190.1 billion
$120.6 billion in net investment income from general account assets supported U.S. annuity liabilities in 2023
$120.6 billion
Annuity reserves (U.S. insurance company liabilities for annuities) totaled $2.7 trillion in 2023
$2.7
$2.3 trillion of annuity assets were held by U.S. insurance companies in 2023
$2.3
source-verifiediii.org · naic.org2023
Reference
Cite This Report
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APA
Thomas Lindqvist. (2026, February 13). Annuities Industry Statistics. Gitnux. https://gitnux.org/annuities-industry-statistics
MLA
Thomas Lindqvist. "Annuities Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/annuities-industry-statistics.
Chicago
Thomas Lindqvist. 2026. "Annuities Industry Statistics." Gitnux. https://gitnux.org/annuities-industry-statistics.
Sources & references
21 datasets cited across this report · attribution is report-level
+9 additional datasets cited (not shown individually)