Sales of fixed indexed annuities edged up in the third quarter, according to a new report.
AnnuitySpecs.com, Pleasant Hill, Iowa, published this finding in a summary of results from its Indexed Sales & Market Report. Forty-five indexed annuity carriers participated in the 61st edition of the report, representing 99 percent of indexed annuity production.
The report discloses that third quarter sales of fixed indexed annuities totaled $8.7 billion, up 0.04 percent from the previous quarter. As compared to the same period last year, sales were up 0.24 percent.
“This quarter’s sales were only half of one percent lower than third quarter 2010’s record-setting indexed annuity sales levels,” says Sheryl Moore, President and CEO of Moore Market Intelligence, the firm that owns AnnuitySpecs.com.
The report reveals that Allianz Life maintained its position as the #1 carrier in indexed annuities with a 14 percent market share. Aviva maintained its position as the second-ranked company, while Security Benefit Life, American Equity and Great American rounded-out the top five, respectively.
Security Benefit Life’s Total Value Annuity was the #1 selling indexed annuity for the quarter.