We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (22,107)
  • Industry Conferences (2)
  • Industry Job Openings (3)
  • Moore on the Market (495)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (828)
  • Wink's Articles (377)
  • Wink's Inside Story (284)
  • Wink's Press Releases (129)
  • Blog Archives

  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • 3Q Fixed Annuity Bank Sales Up 3%, Hit $4.1B

    December 11, 2011 by Sarah Grano

    WASHINGTON — Fixed annuity sales by banks and other depository institutions generated $4.1 billion in the third quarter, a three percent increase over the same period a year ago, according to data released today by the American Bankers Insurance Association. The sales estimates are based on findings from the Beacon Research Fixed Annuity Premium Study.

    “Fixed rate non-MVAs account for at least two-thirds of banks’ fixed annuity sales, and these products drove overall results as usual,” said Jeremy Alexander, president and CEO of Beacon Research. “Fixed annuity rates were lower than in the same quarter a year ago, but they had a slightly larger advantage over treasuries and CDs.”

    The data also indicated that quarter-to-quarter sales fell 19 percent. “Apparently, the fixed annuity rate advantage was not enough to overcome the third quarter’s very low fixed annuity rates or the market’s flight to the safety of treasuries and government guarantees,” Alexander said.  
    One-third of the bank channel carriers tracked by Beacon’s study reported increased sales compared to the same period last year, with 52 percent reporting improved quarter-to-quarter results.  Western National maintained its position as the leading bank channel company among study participants. Genworth jumped four notches from the prior quarter to come in second while Symetra remained in third place.  Great American and Lincoln Financial Group traded places to come in fourth and fifth, respectively. Third quarter 2011 bank channel results for the five leading companies were as follows:

    Symetra’s Custom 7 moved up two places to become the leading bank channel fixed annuity. Lincoln Financial Group’s New Directions – the only top-five indexed annuity – jumped two notches to come in second. Western National was the only company with more than one top-five product: Proprietary Bank Product A and Flex 7 took third and fifth place, respectively. Genworth rejoined the top five with SecureLiving Advantage Pro coming in fourth. The third quarter’s leading bank-sold annuities were as follows:

    The third quarter’s average interest guarantee period (IGP) for bank-sold fixed rate non-MVAs declined to 3.2 from 3.6 years in second quarter – about the same as in the market as a whole. But banks and the overall market moved in different directions on fixed rate MVAs. The average IGP in banks dropped a bit – to 7.6 from 7.8 years. In the market as a whole the IGP increased to 6.5 from 6.2 years.

    “This was probably a function of differences in products marketed by banks versus other distribution channels,” said Alexander.

    About the American Bankers Insurance Association

    The American Bankers Insurance Association is the separately chartered insurance subsidiary of the American Bankers Association and is the only Washington, D.C.-based full service association for bank insurance interests. ABIA’s mission is to develop policy and provide advocacy for banks in insurance and to support bank insurance  operations through research, education, compliance-assistance and peer group networking opportunities. ABIA membership consists of banks, and their affiliated agencies, insurance companies, marketing, and administrative services suppliers, non-bank lending organizations and other firms involved in the bank affiliated insurance industry. Additional information on ABIA can be found on the Internet at www.theabia.com.

    About Beacon Research

    Beacon Research is an independent research company and application service provider founded in 1997 and based in Evanston, IL. Beacon tracks fixed and variable annuity features, rates and sales. Its quarterly Fixed Annuity Premium Study is the first and only source to analyze fixed annuity sales at the product level. Beacon lowers compliance risk and increases fixed annuity sales with 100% carrier-approved, comprehensive product profiles, spreadsheets and search tools for the advisor/rep websites of banks, TPMs, broker-dealers and marketing organizations. Financial institutions use its systems at www.annuitynexus.com for compliance review of 1035 exchanges, sales support, conservation and product research. Beacon also licenses information to other platforms, including Ebix, Ibbotson, Insurance Technologies, and Interactive Data Corporation. 

    Beacon is a member of National Financial’s Alliance program.   Directly and through its licensees, Beacon information can be accessed by hundreds of financial institutions and other annuity distributors.

    ABIA Media Contact:

    Sarah Grano
    sgrano@aba.com, 202-663-5468

    Originally Posted at InsuranceNewsNet on December 11, 2011 by Sarah Grano.

    Categories: Industry Articles
    currency