Indexed Life & Annuities Set Sales Records
March 4, 2011 by Sheryl J. Moore
AnnuitySpecs.com Releases Fourth Quarter, 2010 Indexed Sales Results
Thirty-nine indexed annuity carriers participated in the 54th edition of AnnuitySpecs.com’s Indexed Sales & Market Report, representing 99% of indexed annuity production. Total fourth quarter sales were $8.3 billion, up 19% from the same period last year. As compared to the previous quarter, sales were down nearly 5%. “I predicted that we’d continue to see record sales of indexed annuities after the market collapsed in 2008, and I’m happy to see that has proven accurate- three years running!” said Sheryl J. Moore, President and CEO of AnnuitySpecs.com. “Now that indexed annuities account for 40% of all fixed annuities sold, insurance companies not offering these products won’t be able to turn away any longer.”
Worth noting this quarter is the fact that Allianz Life maintained their position as the #1 carrier in the market with a 23% market share. American Equity took the position as second-ranked company in the market, while Aviva, Jackson National and ING rounded-out the top five, respectively. Allianz Life’s MasterDex X is the #1 selling indexed annuity for the seventh consecutive quarter.
For indexed life sales, 37 insurance carriers in the market participated in the AnnuitySpecs.com’s Indexed Sales & Market Report, representing 99% of production. Fourth quarter sales were $221.2 million, an increase of more than 33% from the previous quarter and an increase of more than 36% over the same period in 2009. Moore remarked, “I am almost speechless over the fact that indexed life is now over-selling variable UL!” She went on to comment, “With so many new companies offering this product, many more in development, and sales hitting these levels…I just became the expert of a much larger market!”
