Who are the best fixed annuity companies?
By actual 2025 sales volume, LIMRA's data puts Athene Annuity & Life at the top, followed closely by New York Life and MassMutual. All ten carriers on the list below carry an A rating or better from AM Best and sold at least $5 billion in fixed annuities during the year. Sales volume is a useful signal that real buyers picked these companies, but it is not the whole story. The right fit for you depends on your priorities: financial strength, rate, product variety, minimum deposit, or customer service, since no single carrier wins on every measure.
Why fixed annuity sales hit a record in 2025
More Americans are turning 65 every year than at any point in history, and a lot of that money is flowing into guaranteed, contract-backed income. Fixed annuity sales reflect it: LIMRA put the industry's 2025 total at $165.3 billion, a record for U.S. fixed-rate deferred annuities. Upwards of 20 carriers fought for a slice of that pie, yet a tenth of that group walked away with roughly 57 percent of the whole market.
The ranking below reflects real 2025 sales numbers as LIMRA tallied them, with no weight given to advertising budgets or marketing partnerships. A carrier near the top earned that spot because a large number of actual buyers signed on the dotted line.
| Rank | Company | 2025 sales | Market share | AM Best |
|---|---|---|---|---|
| 1 | Athene Annuity & Life | $17.55 billion | 10.62% | A+ (Superior) |
| 2 | New York Life | $16.97 billion | 10.26% | A++ (Superior) |
| 3 | MassMutual | $12.21 billion | 7.39% | A++ (Superior) |
| 4 | Corebridge Financial | $10.49 billion | 6.35% | A (Excellent) |
| 5 | USAA Life | $7.63 billion | 4.61% | A++ (Superior) |
| 6 | Nationwide | $7.18 billion | 4.34% | A+ (Superior) |
| 7 | Pacific Life | $5.42 billion | 3.28% | A+ (Superior) |
| 8 | Western & Southern Group | $5.41 billion | 3.27% | A+ (Superior) |
| 9 | American National (ANICO) | $5.15 billion | 3.12% | A (Excellent) |
| 10 | Symetra Financial | $5.09 billion | 3.08% | A (Excellent) |
These figures track full-year 2025 MYGA sales as LIMRA reported them, with each carrier's market share measured against that $165.3 billion industry total. This top 10 together brought in about $92.2 billion. The other 44 percent of the market belongs to dozens of smaller companies, and a number of them post the sharpest rates at any given moment, which is reason enough to look beyond the household names before you buy.
LIMRA's own research team has pointed to a wave of retirements as a driver: with millions of Americans turning 65 each year and fewer traditional pensions available, demand for guaranteed lifetime income has climbed accordingly.
Which carrier fits which kind of buyer
Sales rank is only one lens. Financial strength, rate competitiveness, product range, service quality, and minimum deposit all matter too, and different carriers lead on different measures.
| Best for | Company | AM Best | Why it stands out |
|---|---|---|---|
| Financial strength | New York Life | A++ | The largest U.S. mutual life insurer, and one that has paid policyholder dividends every year since 1854. |
| Largest MYGA seller | Athene | A+ (Superior) | Topped 2025 fixed-rate deferred annuity sales at $17.55 billion, per LIMRA, across a range of short and long terms. |
| Mutual company strength | MassMutual | A++ | Ranked third in 2025 fixed-rate deferred annuity sales at $12.21 billion, selling MYGAs through its MassMutual Ascend subsidiary. |
| Customer service | USAA Life | A++ | Rated highest in J.D. Power's U.S. Individual Annuity Study in both 2024 and 2025. |
| Product variety | Nationwide | A+ | Offers MYGAs, traditional fixed, index, and income annuities from a single carrier. |
| Low minimum deposit | Guardian | A++ | Its Fixed Target Annuity opens with as little as $5,000, unusually low for an A++ rated insurer. |
| Strong seller, strong rating | Pacific Life | A+ | Ranked seventh in 2025 sales at $5.4 billion, backed by an A+ rating. |
How this list was put together
This ranking is built on LIMRA's own tally of confirmed 2025 sales, the industry's data clearinghouse, rather than a survey or an editor's opinion. A short list of additional filters then narrows the field further:
- Financial strength. No carrier below AM Best's A tier makes this list.
- Active product line. Each carrier is still issuing new MYGA or fixed annuity contracts rather than running off a closed block of business.
- Rate competitiveness. Carriers are weighed against recent fixed annuity rate history rather than a single snapshot.
- Complaint record. The NAIC's complaint index is checked for red flags.
- Real access. Each carrier sells through independent agents, not only captive channels, so the products are actually available to shop.
As a licensed independent agency, we are paid by the issuing insurance company when a client places a policy, not by the client, and that commission does not change based on which carrier you choose. That keeps our incentive aligned with finding the right fit rather than pushing one name over another.
A closer look at each of the top 10
1. Athene Annuity & Life, $17.55 billion
Athene held the top sales spot for a third straight year in 2025, even though its total slipped from $21.2 billion in 2024 as competition picked up. Backed by Apollo Global Management, Athene draws on its parent's credit and investment expertise to price aggressively on MYGAs, and its flagship MaxRate series frequently lands near the top of 3, 5, and 7-year rate comparisons. Best for retirees chasing a leading guaranteed rate who are comfortable with an A rating rather than A++. See our Athene review.
2. New York Life, $16.97 billion
New York Life jumped back to the number two spot in 2025 on a 79 percent year-over-year sales increase. Founded in 1845, it remains the largest mutual insurer in the country and holds top ratings across the board, including A++ from AM Best. Its fixed annuity rates typically sit below Athene's, in exchange for the reassurance of roughly 180 consecutive years of dividend payments to policyholders. Best for savers with $200,000 or more who value strength over the last basis point of rate. See our New York Life review.
3. MassMutual, $12.21 billion
MassMutual has landed in the industry's top six every year since 2015, arguably the most consistent record on this list. As a mutual company, it is owned by its policyholders rather than outside shareholders. Its MassMutual Ascend subsidiary, built from the 2021 acquisition of Great American's annuity business, handles the MYGA pricing, leaving the parent to concentrate on whole life coverage and income products. A buyer who wants mutual-company stability without sacrificing much on rate tends to land here. See our MassMutual review.
4. Corebridge Financial, $10.49 billion
Corebridge used to operate as AIG Life & Retirement before separating into an independent, publicly traded company in 2022, and it stepped straight into a top-five sales position. Its American General annuity line has been around for decades, and the carrier is recognized for keeping the entry point low, often around $5,000, which is why it often ends up being someone's very first annuity. A newcomer working with a modest deposit tends to fit well here. See our Corebridge review.
5. USAA Life, $7.63 billion
USAA climbed from eleventh place in 2024 to fifth in 2025, one of the sharpest jumps in the data. Rated A++ by AM Best, USAA also wins J.D. Power's customer satisfaction survey year after year. Only military members and their families can join, but the contract terms available to them once they do skew noticeably favorable. Service quality is the deciding factor for the military families this carrier fits best. See our USAA review.
6. Nationwide, $7.18 billion
Nationwide posted one of the sharpest gains here, vaulting from sixteenth place in 2024 all the way into this top 10 the following year. Breadth is its calling card: a MYGA, a traditional declared-rate fixed annuity, a fixed index contract, and an immediate income annuity all live under the same roof, which suits someone consolidating multiple retirement goals with a single company. See our Nationwide review.
7. Pacific Life, $5.42 billion
Pacific Life has held a top 10 spot for close to a decade. Its 5-year MYGA rate typically lands within a few basis points of whoever is leading the market that week, and an A+ rating keeps it well positioned on the balance between rate and safety. It is also unusual among A+ carriers in still building a premium bonus into some of its contracts. A 5-year MYGA buyer who wants that bonus on top of a competitive rate is the natural fit. See our Pacific Life review.
8. Western & Southern Group, $5.41 billion
A 137-year-old Cincinnati insurer, Western & Southern has quietly held a top 20 spot every year since 2015. Its subsidiaries, among them Integrity Life and National Integrity, do much of the annuity issuing, and the group has a reputation for pricing 3-year terms especially well. A buyer after a stable regional carrier on a shorter time frame fits here. See our Western & Southern review.
9. American National (ANICO), $5.15 billion
ANICO circled just outside the top 10 for years before finally cracking it in 2024 and holding the position in 2025. Contract flexibility is its calling card, with return-of-premium options and a free withdrawal allowance that regularly beats the 10 percent most contracts settle for. A buyer prioritizing access to cash and flexible terms gravitates here. See our American National review.
10. Symetra Financial, $5.09 billion
Symetra, part of Japanese insurer Sumitomo Life, has spent nine of the past eleven years inside the top 10. Its Symetra Custom 7 stands out as a well-known 7-year MYGA for anyone wanting to lock a rate in for a longer stretch. See our Symetra review.
Fixed annuity basics, in brief
Strip away the marketing and a fixed annuity is simple: hand an insurance company a lump sum, and it commits in writing to a specific interest rate for a set number of years. Today the most common shape this takes is the multi-year guaranteed annuity, or MYGA, typically running 3 to 10 years and functioning like a CD's insurance-company cousin, generally with a higher payout. Our fixed annuity calculator can project guaranteed growth on a contract, and our fixed annuity versus CD comparison shows how the two stack up side by side.
Three reasons retirees keep buying them:
- Rate. Fixed annuities have generally paid more than comparable bank CDs over the last several years.
- Tax deferral. Interest is not taxed until you withdraw it, which lets the balance compound faster than a taxable account would.
- No market exposure. What the insurer promises you, both the deposit and the rate, holds regardless of what stocks do, limited only by that company's own ability to pay claims.
The tradeoff is access. Withdraw early and you may face a surrender charge, and gains withdrawn before age 59 and a half generally carry an additional 10 percent IRS penalty on top of ordinary income tax. Fixed annuities work best with money you will not need for the length of the term.
What to do next
Every contract, even from the same carrier, differs in its details, and rates shift week to week. Three ways to move forward: compare current fixed annuity rates directly through our MYGA guide, request a personalized quote built around your state, age, and deposit amount, or browse our company reviews to get the fuller picture on any carrier here before you commit.
This page is meant to educate, not to serve as personal financial, tax, or legal guidance. Every guarantee mentioned here rides on the issuing company's own ability to pay claims, and a state's guaranty backstop is a safety net, not a selling point to buy on. Talk with a licensed strategist or your own tax professional about how any of this fits your situation.
Frequently asked questions
Which company sold the most fixed annuities in 2025?
Athene Annuity & Life led the industry with $17.55 billion in sales and a 10.62 percent share of the market, according to LIMRA's full-year 2025 figures. New York Life followed closely at $16.97 billion.
Are the fixed annuities from these companies safe?
Each name on this list clears AM Best's A tier, the grade most often cited when the industry talks about insurer strength. Beyond that, every state operates a guaranty association standing behind annuity contracts up to a set dollar cap should a carrier ever fail, typically somewhere between $250,000 and $500,000 depending on where you live.
Is Athene worth buying an annuity from?
Athene sits at Excellent on AM Best's scale and has led fixed annuity sales three years running, drawing on investment know-how from its parent, Apollo Global Management. It falls short of the A++ tier that New York Life and MassMutual occupy, so a buyer who insists on that top rung might lean toward one of those two names instead.
Which fixed annuity carrier pays the highest rate right now?
That shifts often enough that a printed number here would be stale within days, since carriers reprice against interest rates and each other constantly. Check our MYGA rate guide or request a quote for current, state-specific figures across top-rated carriers instead.
Does bigger always mean better when picking a carrier?
No. A high sales figure just shows a carrier is popular, not that it is right for you specifically. A smaller mutual insurer holding an A++ grade can outperform a much larger A-rated competitor if financial strength ranks above rate on your list of priorities. Weigh each carrier against your own mix of rating, rate, features, and term.
Written and reviewed by
James Forren Warren
Licensed Retirement Income Strategist · License #20551202
James Forren Warren is a licensed Retirement Income Strategist with Tax Free Wealth Plan. For the past five years he has helped individuals and families turn their savings into retirement income they can count on. He writes and reviews the annuity research on this site and keeps it plain: what a product does, what it costs you, and who it actually fits.
Sources
Educational only, not investment, tax or legal advice. Tax Free Wealth Plan LLC is a licensed insurance agency, not a registered investment adviser or broker-dealer. Annuities are not bank deposits, are not FDIC insured and are not guaranteed by any government agency. Guarantees are backed solely by the claims-paying ability of the issuing insurance company. Features, rates and availability vary by state and change over time; the contract and disclosure documents govern.
