U.S. annuity sales reached a record $432.4 billion in 2024, driven by rising interest rates and demand for retirement income. LIMRA forecasts potential 2025 sales decline amid rate cuts, with RILAs and FIAs expected to remain resilient.

Despite strong sales and regulatory support, annuity adoption inside U.S. retirement plans remains limited due to participant and sponsor perception challenges. Behavioral insights suggest reframing annuities can boost integration as default lifetime income solutions.

Cerulli Associates reports $3 trillion in retirement rollovers and annuity sales opportunities for U.S. wealth management firms targeting high-net-worth individuals.

Admiral Group PLC agrees to sell U.S. motor insurance brand Elephant Insurance to J.C. Flowers & Co., shifting ownership to the U.S. with growth and profitability gains.

GE Financial introduces the GE Retirement Answer, a variable annuity offering guaranteed lifetime income and upside investment potential, addressing critical U.S. retirement funding gaps.

Meanwhile, a crypto life insurance firm, reaches $190M in valuation after a successful fundraising, redefining payment and stability methods by integrating Bitcoin.

Abacus Life has rebranded to Abacus Global Management, boosting its services in life insurance and wealth management, with impressive financial growth in recent quarters.

Simplicity Group has acquired Brokers Edge, aiming to enhance its life insurance and annuity offerings and expand resources for financial advisors.

American National Insurance Company has launched a digital platform for purchasing fixed annuities, enhancing client access to financial products.

Canara HSBC Life Insurance and GIC Housing Finance have partnered to offer credit life insurance for home loan customers, ensuring financial security in unforeseen circumstances.