Structured annuities flew off the shelves in the fourth quarter, according to new issuer survey data from Wink Inc.
Total sales of individual non-variable annuities fell to $27 billion in the quarter, down 18% from the total for the fourth quarter of 2018, Wink reports.
Sales of structured annuities — variable deferred annuity contracts that give the holder some protection against poor investment market performance — climbed 39%, to $4.9 billion.
- A copy of Wink’s latest survey summary is available here.
- An article about the Wink numbers for the third quarter of 2019 is available here.
- An article about structured annuities is available here.
Wink bases its results on an issuer survey.
The company began asking about sales of all kinds of variable deferred annuities in the survey for the first quarter of 2019. The starting dates for the other data streams range from 2009, for indexed annuities, to 2018, for structured annuities.
Wink has 2019 data from nine structured annuity issuers, 31 issuers of all types of variable annuities, 44 issuers of traditional fixed annuities, 49 indexed annuity issuers, and 53 issuers of MYGA contracts.
Structured annuities began to attract attention around 2015, when insurers began to promote them as a middle ground between variable annuities and non-variable indexed annuities.