Wink’s Sales & Market Report, a resource for indexed annuity and indexed life sales data, completed its first full year reporting on all non-variable deferred annuities which include indexed annuity, traditional fixed annuity and multi-year guaranteed annuity (MYGA) product lines.
Fifty-three indexed annuity providers, 48 fixed annuity providers and 55 MYGA companies participated for second quarter. Total second quarter non-variable deferred annuity sales were $26.3 billion. Second quarter total annuity sales were down nearly 3 percent compared to the previous quarter.
Noteworthy highlights for non-variable deferred annuities in the second quarter include Allianz Life ranking as the No. 1 carrier overall for non-deferred annuity sales, with a market share of 11.6 percent. American Equity Companies stood in second position with AIG, Midland National and Global Atlantic Financial Group rounding out the top five carriers in the market. Allianz Life’s Allianz 222 Annuity indexed annuity was the top selling non-variable deferred annuity for overall sales.
Total second quarter indexed annuity sales were $15.5 billion, up more than 3 percent when compared to the previous quarter and up nearly 28 percent when compared with the same period last year.
“While the sales of indexed annuities fell just shy of a quarterly record, it was the second highest quarter in the history of the product line,” says Sheryl J. Moore, president and CEO of both Moore Market Intelligence and Wink Inc. in a press release. “Second quarter sales are typically unremarkable, this quarter was greater than every quarter but last year’s record fourth quarter. This really speaks to consumer demand for safe money products that can outpace rates at the bank!”
Noteworthy highlights for indexed annuities in the second quarter include Allianz Life as the #1 carrier in indexed annuities, with a market share of 19.6 percent. American Equity Companies held its second-rank position. Rounding out the top five carriers in the market were AIG, Athene USA, and Great American Insurance Group, respectively. Allianz Life’s Allianz 222 Annuity was the top selling indexed annuity for the eighth consecutive quarter.