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May 25, 2020 at 01:22 AM
Credit: Wink)
U.S. sales of individual deferred annuities fell to $53 billion, down 4% from the total for the first quarter of 2019, according to new issuer survey data from Wink Inc.
Sheryl Moore, president of Wink, said in a comment included in an announcement of the results that she thinks they look surprisingly good.
“It is amazing that annuity sales are only down in the single digits, given the devastating effects that COVID-19 has wreaked on the annuity industry,” Moore said.
Resources
- A copy of Wink’s latest survey summary is available here.
- An article about the Wink numbers for the fourth quarter of 2019 is available here.
- An article about structured annuities is available here.
Sales of three kinds of non-variable annuities Wink tracks fell about 19%, to $27 billion.
Sales of one type of variable annuity, structured annuities, grew the most, and sales of a type of fixed annuity, multi-year guaranteed annuity (MYGA) contracts, fell the most, according to the Wink survey data.
A structured annuity is a variable annuity contract that gives the holder a predetermined amount of protection against loss of principal, rather than a promise of full protection against loss of principal.
