According to a market report, indexed annuity sales hit nearly $10.9 billion in the first quarter.
That number was a huge jump over the $7.8 billion sold in the same time a year ago, but down 6 percent from Q4 2013.
In a blog posted by Sheryl J. Moore, President & CEO of Wink, Inc., a Pleasant Hill, Iowa-based firm that tracks indexed product, Moore provided the latest market data on indexed annuity sales, agent commission, the top index carriers and the top carriers by channel.
One of the more interesting tidbits related to “the average agent commission (which) was 5.88 percent; up slightly from last quarter’s average.”
As Moore wrote, “this is the first increase in the average commission paid to the sales agent in nearly two years.”
As for carriers, Allianz Life led the pack for Q1 2014 with nearly $2.8 billion in sales, according to a blog posted on the Wink website. Those figures give Allianz almost 26 percent of the market. The complete top ten is listed below along with the leaders by channel.
The top ten indexed annuity carriers Q1 2014
1. Allianz Life
2. Security Benefit Life
3. American Equity Companies
4. Great American Insurance Group
5. Athene USA
6. Midland National Life
9. Symetra Financial
10. Lincoln National Life
Leaders by channel
Agency- Allianz Life
Bank- Great American Insurance Group
Career- American General Companies