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.
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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.