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Top products, carriers named in 3Q annuity and indexed product sales data

Brian Anderson

PLEASANT HILL, Iowa – Total indexed annuity sales in the third quarter of 2015 were up more than 13% over the second quarter and up nearly 21% when compared to the same period last year, according to the 73rd edition of Wink’s Sales & Market Report.

Fifty-five indexed annuity carriers representing 99.8% of indexed annuity production participated in the report, released in late November.

Total third quarter sales were $13.8 billion. “Typically, the third quarter is a down quarter for sales – especially for indexed annuities,” said Sheryl J. Moore, President and CEO of both Moore Market Intelligence and Wink, Inc. “I cannot wait to see what the close of the year has to bring us, in terms of indexed annuity sales records.”

Noteworthy highlights for the third quarter include Allianz Life as the No. 1 carrier in indexed annuities with a market share of 14.7%, and American Equity Companies as the No. 2 carrier. Rounding out the top five carriers in the market are Great American Insurance Group, AIG, and Nationwide. Allianz Life’s Allianz 222 Annuity was the top-selling indexed annuity for the third consecutive quarter.

Fixed annuity and MYGA figures

Wink’s Sales & Market Report, the insurance industry’s top resource for indexed annuity and indexed life sales data since 1997, recently expanded to include traditional fixed annuity and multi-year guaranteed annuity (MYGA) product lines.

Total third quarter traditional fixed annuity sales were $3.09 billion and MYGA sales were $6.14 billion. “We are excited to continue our relationship-building efforts with fixed annuity companies,” Moore said. “We have already increased the level of participation by fixed annuity companies astronomically in a single quarter; it’s nice to see that our relationships count!”

Sixty-one fixed and multi-guaranteed annuity carriers participated in the third-quarter report.

Noteworthy highlights for the third quarter include AIG leading traditional fixed sales with a 32% market share. New York Life is the No. 1 carrier in MYGA sales, with a 29% market share. The top traditional fixed annuity in overall sales is Jackson National Life’s MAX One XL, for the second consecutive quarter. New York Life’s Secure Term led overall MYGA sales in the third quarter. The average fixed annuity premium was $109,753; an increase of over 53% as compared to the previous quarter. The average MYGA premium was $103,554.

Additional product lines will be added to Wink’s Sales & Market Report, via their quarterly sales survey in upcoming quarters. It is anticipated that whole life and term sales will be reported within a year, while universal life sales will follow thereafter. Sales of variable products may potentially follow, based on consumer demand at that time.

Indexed life sales have top 3Q ever

Third quarter sales of indexed life products totaled $478.6 million. When evaluating third quarter indexed life sales, results were up over 4% compared with the previous quarter, and up over 28% compared to the same period last year.

For indexed life sales, 45 insurance carriers participated in Wink’s Sales & Market Report, representing 95.1% of production. “Indexed life sales were greater than any other third quarter in the history of this product line. It looks like AG49 has not yet had much of an impact on the sales,” Moore said.

Items of interest in the indexed life market this quarter include Transamerica maintaining the No. 1 position in indexed life sales, with a 15.2% market share. Pacific Life continues to hold the No. 2 spot, while National Life Group, Minnesota Life, and AXA US rounded out the top five companies, respectively.

Transamerica Premier Financial Foundation IUL was the top-selling indexed life insurance product for the seventh consecutive quarter. The average indexed UL target premium reported for the quarter was $7,556, an increase of more than 3% from the prior quarter.

For more information visit www.LookToWink.com.



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