As the end of the year approaches, indexed annuity sales are rushing toward the finish life, hitting a record $10 billion in the third quarter, according to the most recent compilation from Wink’s Sales & Market Report, which tracks indexed annuity and life sales.
That $10 billion figure represents a 9 percent jump from the previous quarter and is 15 percent above the year-ago period. Sheryl J. Moore, president and CEO of both Moore Market Intelligence and Wink, noted in a release that many companies made positive changes to their products in their third quarter and there were a number of “fire sales being offered as well.”
Participating in the survey were 42 indexed annuity carriers, representing more than 98 percent of indexed annuity production.
Allianz Life held the top spot among carriers with a 12.9 percent market share. Security Benefit Life and American Equity maintained their second and third place rankings, followed by Great American and Aviva. For the fifth consecutive quarter, Security Benefit’s Total Value Annuity was the No. 1 selling annuity.