However, as the economy stabilized, annuities gained traction as a retirement planning tool. High inflation rates sparked interest in annuities as a hedge against inflation. Analysis of Key Players: The US annuity market is characterized by a concentration of major players, including American International Group, Inc., Lincoln National Corporation, Athene Holding Ltd., MassMutual, American National Group, Inc., Jackson Financial Inc. (Jackson National Life Insurance Company), KKR & Co. Inc. (Global Atlantic Financial Group Ltd.), Pacific LifeCorp, Midland National Life Insurance Company, Nationwide Mutual Insurance Company, American Equity Investment Life Holding Company (American Equity Investment Life Insurance Company), and TIAA.