FOURTH QUARTER 2018 ANNUITY SALES
March 19, 2019 by Sheryl J. Moore
Indexed Annuity
Sales for the fourth quarter of 2018 were $19,202 million, compared with sales of $13,621 million for the fourth quarter of 2017. Fourth quarter indexed annuity sales were up more than 8% when compared to the previous quarter, and up nearly 41% when compared to the same period last year. This was a record-setting year for indexed annuity sales, topping the prior 2016 record by 17.63%.
Total 4Q2018 indexed annuity sales were $19,202,459,208.
Total 2018 indexed annuity sales were $68,471,294,256.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2018:
1. Allianz Life
2. Athene USA
3. AIG
4. Pacific Life Companies
5. Nationwide
6. Great American Insurance Group
7. American Equity Companies
8. Lincoln National Life
9. Global Atlantic Financial Group
10. Fidelity & Guaranty Life
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.23% of premium for the fourth quarter of 2018; a trend that is up slightly from the prior quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- Massachusetts Mutual Life Cos.
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- American General Power Index Plus Annuity
Career- C.M. Life Index Horizons
Direct Response- N/A
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker Dealer- Allianz Life Allianz 222 Annuity
National Broker Dealer- Forethought Life ForeAccumulation II FIA 5-Year
Fee-Based Overall- Lincoln National Life Lincoln Core Capital
Fixed Annuity
Sales for the fourth quarter of 2018 were $1,184 million, compared to sales of $755 million for the fourth quarter of 2017. Fourth quarter fixed annuity sales were up nearly 16% when compared to the previous quarter, and up nearly 57% when compared with the same period last year.
Total 4Q2018 fixed annuity sales were $1,184,268,712.
Total 2018 fixed annuity sales were $3,810,552,655.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2018:
1. AIG
2. Jackson National Life
3. Modern Woodmen of America
4. Global Atlantic Financial Group
5. Great American Insurance Group
6. OneAmerica
7. Reliance Standard
8. EquiTrust
9. American National
10. Foresters
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 4.44% of premium for the fourth quarter of 2018; down slightly from last quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- Modern Woodmen of America
Direct Response- Amica
Independent Agent- Jackson National Life
Independent Broker Dealer- Jackson National Life
National Broker Dealer- AIG
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- State Life (OneAmerica) Annuity Care II
Career- Kansas City Life Growth Track
Direct Response- Amica Flexible 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 fourth quarter of 2018 were $12,234 million, compared with sales of $6,747 million for the fourth quarter of 2017. Fourth quarter MYGA sales were up more than 12% when compared to the previous quarter, and up more than 81% when compared to the same period last year.
Total 4Q2018 MYGA sales were $12,234,757,551.
Total 2018 MYGA sales were $41,351,068,971.
THE TOP TEN MYGA CARRIERS FOR THE FOURTH QUARTER OF 2018:
1. New York Life
2. Global Atlantic Financial Group
3. AIG
4. Massachusetts Mutual Life Companies
5. Symetra Financial
6. Reliance Standard
7. Protective Life Companies
8. Delaware Life
9. Colorado Bankers Life Insurance Company
10. The Standard
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.43% of premium for the fourth quarter of 2018; a noticeable increase from last quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- New York Life
Direct Response- Bankers Life Insurance Company
Independent Agent- Colorado Bankers Life Insurance Company
Independent Broker Dealer- Global Atlantic Financial Group
National Broker Dealer- Massachusetts Mutual Life Companies
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Massachusetts Mutual Life Stable Voyage 3-Year
Bank- Forethought Life SecureFore 3 Fixed Annuity
Career- Thrivent Financial Security One
Direct Response- Bankers Life Insurance Company SPDA-5
Independent Agent- Colorado Bankers Life CBLA-7
Independent Broker Dealer- Forethought Life SecureFore 5 Fixed Annuity
National Broker Dealer- Massachusetts Mutual Life Stable Voyage 3-Year
Structured Annuity
Sales for the fourth quarter of 2018 were $4,140 million. Fourth quarter structured annuity sales were up more than 19% when compared to the previous quarter. Given that this is the fourth quarter that Wink has collected data on sales of structured annuities, additional comparisons will be available in future quarters.
Total 4Q2018 structured annuity sales were $4,140,086,267.
Total 2018 structured annuity sales were $12,294,097,150.
THE TOP STRUCTURED ANNUITY CARRIER FOR THE FOURTH QUARTER OF 2018:
AXA US
LEADERS BY CHANNEL:
Bank- Brighthouse Financial
Career- AXA US
Independent Broker Dealer- AXA US
National Broker Dealer- Allianz Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Brighthouse Life Shield Level Select 6-Year
Bank- Brighthouse Life Shield Level Select 6-Year
Career- N/A
Independent Broker Dealer- Lincoln National Life Level Advantage B Share
National Broker Dealer- Allianz Life Allianz Index Advantage
Wink anticipates compiling first quarter, 2019’s sales with a release date of May 2019.
-sjm