Jackson National sales climb 21%

Jackson National Life Insurance Co. today reported total sales of nearly $3.5 billion in the first quarter, up 21% from the same period a year ago. The increase was driven by continued strong growth in variable annuity sales, which rose 31% over first quarter 2006 to nearly $2.1 billion, according to a statement by the Lansing, Mich.-based company. "As Baby Boomers near retirement, they are seeking investment products that can offer income guarantees and longevity protection to help ensure they will not outlive their retirement assets, and our variable annuities can fulfill this demand," said Clark Manning, Jackson's chief executive. Jackson sold $263 million in fixed annuities during the quarter, up slightly from the $261 million sold in the same period a year earlier.