Wink, Inc. Releases 4th Quarter, 2018 Deferred Non-Variable and Structured Annuity Sales Results
March 19, 2019 by Press Release
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Wink, Inc. Releases 4th Quarter, 2018 Deferred Non-Variable and Structured Annuity Sales Results
Des Moines, Iowa. March 19, 2019– Wink’s Sales & Market Report, the insurance industry’s #1 resource for indexed annuity sales data since 1997, is in its third year of reporting on all deferred non-variable annuities which include indexed annuity, traditional fixed annuity, and multi-year guaranteed annuity (MYGA) product lines. This is the first year for Wink to report on structured annuities, (a.k.a. indexed-variable annuities, collared annuities, or buffered annuities).
Sixty indexed annuity providers, 54 fixed annuity providers, 68 MYGA providers, and ten structured annuity companies participated in the 86th edition of Wink’s Sales & Market Report for 4th Quarter, 2018. Total fourth quarter non-variable deferred annuity sales were $32.6 billion; up more than 10.1% when compared to the previous quarter and up more than 54.4% when compared to the same period last year. Total non-variable deferred annuities sales for 2018 were $113.6 billion, an increase of 29.1% over the previous year. Non-variable deferred annuities include the indexed annuity, traditional fixed annuity, and MYGA product lines.
Noteworthy highlights for non-variable deferred annuity sales in the fourth quarter include AIG ranking as the #1 carrier overall for non-variable deferred annuity sales, with a market share of 9.8%. Allianz Life moved into second place, while Global Atlantic Financial Group, Athene USA and Massachusetts Mutual Life Companies rounded-out the top five carriers in the market, respectively. Allianz Life’s Allianz 222 Annuity, an indexed annuity, was the #1 selling non-variable deferred annuity, for all channels combined, in overall sales
Indexed annuity sales for the fourth quarter were $19.2 billion; up more than 8.4% when compared to the previous quarter, and up 40.9% when compared with the same period last year. Total indexed annuity sales for 2018 were $68.4 billion, an increase of over 26.8% from the previous year. Indexed annuities have a floor of no less than zero percent and limited excess interest that is determined by the performance of an external index, such as Standard and Poor’s 500®.
“Indexed annuity sales beat their prior record by nearly 18%!” exclaimed Sheryl J. Moore, president and CEO of both Moore Market Intelligence and Wink, Inc. She continued, “While sales were down for 2017 because of the Department of Labor, this year’s sales have more than made-up for last year’s loss in sales.”
Noteworthy highlights for indexed annuities in the fourth quarter include Allianz Life retaining their #1 ranking in indexed annuities, with a market share of 13.6%. Athene USA held the second-ranked position while AIG, Pacific Life Companies, and Nationwide rounded-out the top five carriers in the market, respectively. Allianz Life’s Allianz 222 Annuity was the #1 selling indexed annuity, for all channels combined, for the eighteenth consecutive quarter.
Traditional fixed annuity sales in the fourth quarter were $1.1 billion; up 15.9% when compared to the previous quarter, and up more than 56.8% when compared with the same period last year. Total traditional fixed annuity sales for 2018 were $3.8 billion, an increase of 5.1% over the previous year. Traditional fixed annuities have a fixed rate that is guaranteed for one year only.
Noteworthy highlights for traditional fixed annuities in the fourth quarter include AIG ranking as the #1 carrier in fixed annuities, with a market share of 13.1%. Jackson National Life ranked second and Modern Woodmen of America, Global Atlantic Financial Group, and Great American Insurance Group rounded-out the top five carriers in the market, respectively. Forethought Life’s ForeCare Fixed Annuity was the #1 selling fixed annuity for the quarter, for all channels combined, for the eleventh consecutive quarter.
Multi-year guaranteed annuity (MYGA) sales in the fourth quarter were $12.2 billion; up over 12.3% when compared to the previous quarter, and up more than 81.3 % when compared to the same period last year. Total MYGA sales for 2018 were $41.3 billion, a 36.1% increase over the previous year. MYGAs have a fixed rate that is guaranteed for more than one year.
“Every single company in the top 15 experienced increases in MYGA sales; that is unprecedented!,” exclaimed Moore.
Noteworthy highlights for MYGAs in the fourth quarter include New York Life ranking as the #1 carrier, with a market share of 13.0%. Global Atlantic Financial Group continued in the second-ranked position, while AIG, Massachusetts Mutual Life Companies, and Symetra Financial rounded-out the top five carriers in the market, respectively. Massachusetts Mutual Life Stable Voyage 3-Year was the #1 selling multi-year guaranteed annuity for the quarter, for all channels combined.
Structured annuity sales in the fourth quarter were $4.1 billion; up more than 19.4% as compared to the previous quarter. Total structured annuity sales for 2018 were $12.2 billion; this is the first year that Wink has reported on structured annuity sales. Structured annuities have a limited negative floor and limited excess interest that is determined by the performance of an external index or subaccounts.
Noteworthy highlights for structured annuities in the fourth quarter include AXA US ranking as the #1 carrier in structured annuities, with a market share of 40.8%. Brighthouse Life Shield Level Select 6-Year was the #1 selling structured annuity for the quarter, for all channels combined for the fourth consecutive quarter.
While Wink currently reports on indexed annuity, fixed annuity, multi-year guaranteed annuity, structured annuity, and multiple life insurance lines’ product sales, the firm looks forward to reporting on variable annuity sales beginning in the first quarter of 2019. Sales reporting on additional product lines will follow at some point in the future.
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For more information, go to www.LookToWink.com.
Wink, Inc. is the company behind the most comprehensive life insurance and annuity due-diligence tools, AnnuitySpecs and LifeSpecs at www.LookToWink.com. Wink, Inc. is the distributor of the quarterly Wink’s Sales & Market Report. Serving as the insurance industry’s #1 resource of indexed insurance product sales since 1997, this report provides sales by product, company, crediting method, index, distribution, surrender charge period, and more. Wink’s Sales & Market Report expanded to cover all fixed deferred annuity products in 2015 and all non-variable cash value life insurance products in 2017.
The staff of Wink, Inc. has the combined experience of more than 150 years working with insurance products. Based in Des Moines, Iowa, the firm offers competitive intelligence and market research in the life insurance and annuity industries; serving financial services professionals, distributors, manufacturers, regulators, and consultants on both a domestic and global basis.
Sheryl J. Moore is president and CEO is the guiding force behind Wink, Inc. Ms. Moore previously worked as a market research analyst for top carriers in the life insurance and annuity industries. Her views on the direction of the market are frequently heard in seminars and quoted by industry trade journals.
March 19, 2019
Des Moines, IA
(855) ASK-WINK
