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Indexed annuity sales skyrocket

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A new report from Wink, Inc., the 69th edition of Wink’s Sales & Market Report, which took into account 99.8 percent of indexed annuity production and with 47 indexed annuity carriers as participants, reveals that the market can easily do over $45 billion in sales by the end of this year.

A total of $11.4 billion in sales for Q3 of 2014 made its way into the books as the third quarter sales of indexed annuities that has been “greater than they have been in any full year with the exception of 2013’s record-setting sales,” according to Sheryl J. Moore, president and CEO of Moore Market Intelligence and Wink, Inc. (Click on the image below to enlarge view)

chart one

The report highlights for indexed annuities include:

  • Allianz Life maintained its position as the number one carrier of indexed annuities with a market share of 26.8 percent and with its Allianz 222 Annuity as the number one selling indexed annuity for the quarter.
  • American Equity Companies recaptured their prior ranking as the number two carrier in the market
  • And Security Benefit Life, Great American Insurance Group, and Athene USA followed-up in sales, rounding-out the top five

See also: The insanity in indexed annuity sales growth

Meanwhile, on indexed life sales, 47 insurance carriers participated in the report, representing 95.2 percent of production and third quarter sales were $3.72 million, up 4.46 percent when compared to Q2 of 2014 and up 18.73 percent when compared to the same period last year. (Click on the image below to enlarge view)

Some highlights for indexed life sales:

  • Pacific Life Companies maintained their number one position with an 11.61 percent market share.
  • Aegon held-on as the second-ranked company in the market;
  • National Life Group, Minnesota Life and Zurich American Life rounded-out the top five companies.
  • Western Reserve Life Assurance Company of Ohio’s WRL Financial Foundation was the number one selling indexed life insurance product for the third consecutive quarter

You have to be a member to view the report.

See also: Guaranteed lifetime income gets thumbs up, with reservations


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