Monthly inflows into annuities processed by a unit of the Depository Trust & Clearing Corporation averaged $7.5 billion in 2011, according to a new report.
Insurance & Retirement Services, a wholly owned subsidiary of DTCC, published this finding in its 2011 Annuity Market Activity Report. I&RS’ Analytic Reporting for Annuities online information service analyzes data from millions of annuity transactions that DTCC processes for the insurance industry.
In 2011 I&RS processed more than $156 billion in annuity transactions for 105 insurance company participants (representing 41 parent/holding companies), 133 broker-dealers and 3,150 annuity products.
The report discloses that monthly outflows from annuities in 2011 averaged $5.5 billion. And net cash flows averaged just under $2 billion per month.
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The top 10 insurance parent/holding companies, the report adds, captured 79% of total inflows. The top 10 companies by market share include MetLife (17%), Jackson National (12%), Prudential/Pruco (11%), AIG Companies and Lincoln National (7% for each company), Riversource and Nationwide (6% each), John Hancock (5%), Transamerica/AEGON Companies (4%) and Allianz Life (3%).
The report reveals that 25 insurance parent/holding companies accounted for more than $42 billion positive net cash flows. Sixteen insurance parent/holding companies experienced negative net cash flows total over $18 billion.