Wink Inc. has come out with data relating to an important question: Were U.S. sales of individual, non-variable annuities really 46% higher in the third quarter than in the third quarter of 2017?
(Related: Q3 Non-Variable Annuity Sales Were Shocking)
The full results from Wink’s annuity issuer survey suggest that, according to the participants in Wink’s survey, sales really were up 46%, year over year. Sales increased to about $29.6 billion.
Here’s where the sales came from:
- Indexed annuities: $17.7 billion.
- Multi-year guaranteed annuities (MYGAs): $10.8 billion.
- Traditional fixed annuities: $1 billion.
Sales of structured annuities, or indexed annuities which are registered as variable annuities, amounted to $3.4 billion.
Sales of MYGA contracts showed the most rapid growth: They increased 63%, year-over-year.
The complete report, which is behind a paywall, indicates that every carrier in the top 10 reported a year-over-year increase in non-deferred annuity sales. Nine of the companies increased sales more than 10%, and one increased sales more than 300%.
Wink analysts released preliminary results last week. The preliminary results were based on data from life insurers that account for about 94% of U.S. individual fixed and indexed annuity sales.
The final results, which also appear to be based on results from issuers that account for about 94% of sales, include responses from 107 issuers.
Wink reports that the providers account for 100% of structured annuity production, 99% of indexed annuity production, and a large majority of MYGA and traditional fixed annuity production.
More information about Wink life and annuity market survey data, including links to report summaries, is available here.
— Read Indexed Annuities’ Quiet Cousins Ride a Q2 Sales Rocket, on ThinkAdvisor.