Total 2011 indexed annuity sales set a record, but revenue dipped in the fourth quarter from the year-ago period, a new report reveals.
AnnuitySpecs.com, a unit of Moore Market Intelligence, Pleasant Hill, Iowa, published this finding in a summary of results from a new survey, Indexed Sales & Market Report. Forty-one indexed annuity carriers and 42 insurance carriers participated in the 58th edition of the report, representing 99% of indexed annuity and indexed life production.
Total fourth quarter indexed annuity sales were $8.2 billion, a dip of just under 5% from the third quarter and less than 1% from the year-ago period, the report finds. But indexed annuity sales for all of 2011 reached a $32.3 billion record high, an increase of less than 1% over the previous year’s total.
Sheryl Moore, president and CEO of Moore Market Intelligence, says the 2011 results represent the 4th consecutive record year for indexed annuity sales.
The report reveals that Allianz Life maintained its position as the top carrier in indexed annuities with a 17% market share. Aviva took the position as the second-ranked company in the market, while American Equity, Great American (GAFRI) and Midland National Life rounded-out the top five, respectively.