First Quarter 2014 Indexed Insurance Sales
May 27, 2014 by Sheryl J. Moore
Indexed Annuity
Wink’s Sales & Market Report, 1st Quarter 2014 shows first quarter 2014 indexed annuity sales were $10,869 million, compared with sales of $7,863 million for the first quarter of 2013. First quarter indexed annuity sales were down nearly 6% when compared to the previous quarter, and up more than 39% when compared with the same period last year.
Total 1Q2014 indexed annuity sales were $10,869,426,390.
The top ten indexed annuity carriers for the first quarter of 2014:
1. Allianz Life
2. Security Benefit Life
3. American Equity Companies
4. Great American Insurance Group
5. Athene USA
6. Midland National Life
7. ING
8. EquiTrust
9. Symetra Financial
10. Lincoln National Life
Average Commission
The average agent commission was 5.88%; up slightly from last quarter’s average. This is the first increase in the average commission paid to the sales agent in nearly two years.
Leaders by Channel
Agency- Allianz Life
Bank- Great American Insurance Group
Wirehouse- ING
Career- American General Companies
Indexed Life
Indexed life sales first quarter of 2014 were $330 million, compared with sales of $318 million for the first quarter of 2013. First quarter indexed life sales were down more than 18% when compared with the previous quarter, and up nearly 4% as compared to the same period last year.
Total 1Q2014 indexed life sales were $330,294,718
The top ten indexed life carriers for the first quarter of 2014:
1. Pacific Life Companies
2. Aegon
3. National Life Group (NL/LSW)
4. Minnesota Life
5. Lincoln National Life
6. Nationwide Financial
7. Zurich American Life (est)
8. Aviva
9. Allianz Life
10. American General Life Companies
Average Target Premium
The average target premium paid was $9,063, a drop of nearly 13% from the prior quarter.
Leaders by Channel
Agency- Pacific Life Companies
Bank- Pacific Life Companies
Wirehouse- Aegon
Career- CNO Companies
~sjm