The 20 Strongest Annuity Insurers

Many insurance companies that write annuities have suffered downgrades because of severe losses and capital deterioration. Many, however, have maintained strong capital levels that so far have cushioned the blow from the decline in the stock market.

Teachers Insurance and Annuity Association, better known as TIAA-CREF, is the largest annuity company to receive TheStreet.com Ratings' top ranking of A-plus. It lost $3.3 billion in 2008 but held $17.8 billion in capital at year-end. And John Hancock Life Insurance of New York, a subsidiary of Manulife Financial(MFC Quote), maintains an A rating despite the downgrade to B of two affiliates, John Hancock Variable Life Insurance Co. and John Hancock Life Insurance Co.

Other companies are in a tougher spot. Hartford Life Insurance and Hartford Life & Annuity Insurance, units of Hartford Financial Services Group(HIG Quote), have gotten hammered. So have Axa Equitable Life Insurance, a division of Axa(AXA Quote); and ING USA Annuity & Life Insurance, a part of ING Groep(ING Quote). ...