Sales of indexed annuities fell slightly in the first quarter from the total for the first quarter of 2009, an annuity tracking service says.
Sales amounted to $6.8 billion in the first quarter, according to AnnuitySpecs.com, Des Moines, Iowa.
That figure is down 4% from $7.1 billion in the comparable period in 2009, the firm says. First-quarter sales were also 3% lower than in the fourth quarter of 2009.
Other first-quarter findings:
- The sales leader was Allianz Life, Minneapolis, which produced $1.4 billion in sales.
- The other sales leaders in the top 5 were, in descending order: Aviva, Des Moines; American Equity, Des Moines; Jackson National Life, Lansing, Mich., and ING, Des Moines.
- The top five companies accounted for 62% of first-quarter indexed annuity market share.
The analysis reflects sales results from 43 indexed annuity insurers representing 98% of active indexed annuity companies, AnnuitySpecs.com says. One of the carriers also sells registered indexed annuities.