Annuity sales should stay strong for decades to come, no matter what happens to the economy over the next few years.

Kevin Hogan, the CEO of Corebridge Financial, made that prediction earlier this week in New York, at the KBW Insurance Conference.

Corebridge Financial is one of the biggest annuity issuers in the United States, with $17 billion in individual contract sales during the first half of the year, according to LIMRA.

"About 4 million people are turning 65 this year and every year for the foreseeable future," Hogan told Ryan Krueger, a KBW analyst who shared the podium during his appearance.

Even though Generation X has a reputation for being small, the flow of new retirees is on track to hold steady in and after 2030, when GenXers start turning 65, Hogan said.

Few of those new retirees have defined benefit pensions, and new advisors like what annuities can do for their clients, he added.

"The tailwinds are there," he said. "They're strong and long-term."

Hogan also talked about how Corebridge creates the new products that are generating the billions of dollars in new sales each quarter.

For a look at seven secrets he shared about annuity product design, including the advisor ingredient, see the gallery accompanying this article.

What it means: Just a few years ago, annuities were in the doghouse. Now, they're hot.

The history: Corebridge started off as the life and annuity arm of American International Group. While it was part of AIG, it helped create the modern U.S. individual annuity market in the 1990s, when interest rates and hopes were high.

The company muddled through the slump that followed the 2007-2009 Great Recession, when interest rates seemed as if they would stay near zero forever and radio talk show hosts fulminated against annuity fees.

Interest rates started to turn back up in March 2022 and cast products that had looked ugly in a flattering new light.

The KBW conference: Hogan appeared at the KBW conference along with top executives from many other big annuity issuers, including Equitable, F&G Annuties & Life and Principal.

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