THIRD QUARTER 2017 ANNUITY SALES
November 22, 2017 by Sheryl J. Moore
Indexed Annuity
Sales for the third quarter of 2017 were $12,798 million, compared with sales of $14,303 million for the third quarter of 2016. Third quarter indexed annuity sales were down nearly 13% when compared to the previous quarter, and down nearly than 11% when compared with the same period last year.
Total 3Q2017 indexed annuity sales were $12,798,751,401
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE THIRD QUARTER OF 2017:
1. Allianz Life
2. Nationwide
3. Athene USA
4. American Equity Companies
5. Great American Insurance Group
6. AIG
7. Global Atlantic Financial Group
8. Midland National Life
9. Fidelity & Guaranty Life
10. North American Company
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 4.95% of premium for the third quarter of 2017; a decline 0.07% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Great American Insurance Group
Career- CNO Companies
Direct Response- N/A
Independent Agent- Athene USA
Independent Broker Dealer- Allianz Life
National Broker Dealer– Global Atlantic Financial Group
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Allianz Life Allianz 222 Annuity
Bank- Great American Assurance Select 7
Career- Bankers Life & Casualty Guaranteed Lifetime Income Annuity
Direct Response- N/A
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker Dealer- Allianz Life Allianz 222 Annuity
National Broker Dealer– Nationwide Nationwide Summit
Fixed Annuity
Sales for the third quarter of 2017 were $809 million, compared with sales of $1,263 million for the third quarter of 2016. Third quarter fixed annuity sales were down nearly 21% when compared to the previous quarter, and down nearly 36% when compared with the same period last year.
Total 3Q2017 fixed annuity sales were $809,532,347
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE THIRD QUARTER OF 2017:
1. Jackson National Life
2. Modern Woodmen of America
3. Global Atlantic Financial Group
4. Reliance Standard
5. Great American Insurance Group
6. EquiTrust
7. Brighthouse Financial
8. American National
9. American Equity Companies
10. National Life Group
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 3.55% of premium for the third quarter of 2017; up 0.28% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Reliance Standard
Career- Modern Woodmen of America
Direct Response- Amica
Independent Agent- Jackson National Life
Independent Broker Dealer- Brighthouse Financial
National Broker Dealer– Global Atlantic Financial Group
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- Forethought Life ForeCare Fixed Annuity
Career- Kansas City Life Growth Track
Direct Response- Amica Single Premium Deferred Annuity
Independent Agent- EquiTrust ChoiceFour
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
National Broker Dealer– Forethought Life ForeCare Fixed Annuity
Multi-Year Guaranteed Annuity
Sales for the third quarter of 2017 were $6,648 million, compared with sales of $7,224 million for the third quarter of 2016. Third quarter MYGA sales were down nearly 16% when compared to the previous quarter, and down nearly 8% when compared to the same period last year.
Total 3Q2017 MYGA sales were $6,648,519,673
THE TOP TEN MYGA CARRIERS FOR THE THIRD QUARTER OF 2017:
1. New York Life
2. Global Atlantic Financial Group
3. AIG
4. Security Benefit Life
5. Delaware Life
6. Symetra Financial
7. Fidelity & Guaranty Life
8. American National
9. Athene USA
10. Protective Life Companies
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 1.00% of premium for the third quarter of 2017; up 0.27% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Financial Group
Career- New York Life
Direct Response- New York Life
Independent Agent- Fidelity & Guaranty Life
Independent Broker Dealer- Global Atlantic Financial Group
National Broker Dealer- New York Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life SecureFore 5 Fixed Annuity
Bank- Forethought Life SecureFore 5 Fixed Annuity
Career- MassMutual Life Odyssey Select 7-Year
Direct Response- N/A
Independent Agent- Fidelity & Guaranty Life FG Guarantee-Platinum
Independent Broker Dealer- Forethought Life SecureFore 5 Fixed Annuity
National Broker Dealer– Forethought Life SecureFore 5 Fixed Annuity
We look forward to compiling Fourth Quarter, 2017’s sales with a release date of February 2018.