FIRST QUARTER 2020 ANNUITY SALES
May 22, 2020 by Sheryl J. Moore
Deferred Annuity Sales
Total 1Q2020 deferred annuity sales were $52,704,571,827. First quarter deferred annuity sales were down more than 1% when compared to the previous quarter.
Non-Variable Deferred Annuity Sales
Sales for the first quarter of 2020 were $27,085,683,343. First quarter non-variable deferred annuity sales were flat when compared to the previous quarter, and were down 19% when compared to the same period last year.
Variable Deferred Annuity Sales
Total 1Q2020 variable deferred annuity sales were $25,618,888,484. First quarter variable deferred annuity sales were down nearly 3% when compared to the previous quarter, and up nearly 19% when compared to the same period last year.
Indexed Annuity
Sales for the first quarter of 2020 were $16,425 million, compared with sales of $17,751 million for the first quarter of 2019. First quarter indexed annuity sales were down more than 4% when compared to the previous quarter, and down more than 7% when compared to the same period last year.
Total 1Q2020 indexed annuity sales were $16,425,831,062.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2020:
1. Allianz Life
2. AIG
3. Nationwide
4. Athene USA
5. Lincoln National Life
6. Security Benefit Life
7. Fidelity & Guaranty Life
8. Global Atlantic Financial Group
9. Sammons Financial Companies
10. Jackson National Life
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.13% of premium for the first quarter of 2020; a trend that is up from the prior quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- CNO Companies
Direct Response- AIG
Independent Agent- Allianz Life
Independent Broker Dealer- Allianz Life
National Broker Dealer- Nationwide
Registered Investment Advisor- Lincoln National LIfe
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Allianz Life Allianz 222 Annuity
Bank- American General Power Index 5 Plus Annuity
Career- C.M. Life Index Horizons
Direct Response- N/A
Fee-Based Overall- Jackson National Market Protector Advisory 7-Year
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker Dealer- Allianz Life Allianz 222 Annuity
National Broker Dealer- Nationwide Nationwide Peak 5
Registered Investment Advisor- Lincoln National Life Lincoln Core Capital
Fixed Annuity
Sales for the first quarter of 2020 were $691 million, compared to sales of $948 million for the first quarter of 2019. First quarter fixed annuity sales were flat when compared to the previous quarter, and down more than 27% when compared with the same period last year.
Total 1Q2020 fixed annuity sales were $691,382,097.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2020:
1. Modern Woodmen of America
2. Jackson National Life
3. Global Atlantic Financial Group
4. OneAmerica
5. EquiTrust
6. Brighthouse Financial
7. American National
8. Great American Insurance Group
9. National Life Group
10. AIG
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 4.80% of premium for the first quarter of 2020; down slightly as compared to last quarter.
LEADERS BY CHANNEL:
Bank- OneAmerica
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
Registered Investment Advisor- N/A
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- State Life Annuity Care II
Career- Kansas City Life Growth Track
Direct Response- Amica Single Premium Deferred Annuity
Independent Agent- EquiTrust ChoiceFour with Liquidity Rider
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
National Broker Dealer- Forethought Life ForeCare Fixed Annuity
Registered Investment Advisor- N/A
Multi-Year Guaranteed Annuity
Sales for the first quarter of 2020 were $9,968 million, compared with sales of $14,759 million for the first quarter of 2019. First quarter MYGA sales were up 9% when compared to the previous quarter, and down more than 32% when compared to the same period last year.
Total 1Q2020 MYGA sales were $9,968,470,184.
THE TOP TEN MYGA CARRIERS FOR THE FIRST QUARTER OF 2020:
1. New York Life
2. Massachusetts Mutual Life Companies
3. Global Atlantic Financial Group
4. AIG
5. Western-Southern Life Assurance Company
6. Symetra Financial
7. Protective Life Companies
8. Pacific Life Companies
9. Great American Insurance Group
10. Reliance Standard Life Insurance Company
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.35% of premium for the first quarter of 2020; an increase from last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Finanical Group
Career- New York Life
Direct Response- Nassau Re
Independent Agent- Equitable Life & Casualty
Independent Broker Dealer- Jackson National Life
National Broker Dealer- New York Life
Registered Investment Advisor- N/A
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- N/A
Independent Agent- Sentinel Security Life Personal Choice Annuity 5
Independent Broker Dealer- Jackson National Life JACKSON RateProtector 3-Yr
National Broker Dealer- Massachusetts Mutual Life Stable Voyage 3-Year
Registered Investment Advisor- N/A
Structured Annuity
Sales for the first quarter of 2020 were $4,873 million compared with sales of $3,535 million for the first quarter of 2019. First quarter structured annuity sales were down 1% when compared to the previous quarter, and up nearly 38% when compared to the same period last year.
Total 1Q2020 structured annuity sales were $4,873,898,310.
THE TOP STRUCTURED ANNUITY CARRIER FOR THE FIRST QUARTER OF 2020:
Equitable Financial
LEADERS BY CHANNEL:
Bank- Equitable Financial
Career- Equitable Financial
Direct Response- N/A
Independent Broker Dealer- Lincoln National Life
National Broker Dealer- Allianz Life
Registered Investment Advisor- Lincoln National Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Lincoln National Life Level Advantage B Share
Bank- Brighthouse Life Shield Level Select 6-Year
Career- AXA Equitable Structured Capital Strategies Plus
Direct Response- N/A
Independent Broker Dealer- Lincoln National Life Level Advantage B Share
National Broker Dealer- Lincoln National Life Level Advantage B Share
Registered Investment Advisor- Lincoln National Life Level Advantage Advisory Share
Variable Annuity
Sales for the first quarter of 2020 were $20,744 million, compared with sales of $18,009 million for the first quarter of 2019. First quarter variable annuity sales were down more than 3% when compared to the previous quarter, and up more than 15% when compared to the same period last year.
Total 1Q2020 variable annuity sales were $20,744,990,174.
THE TOP TEN VARIABLE CARRIERS FOR THE FIRST QUARTER OF 2020:
1. Jackson National Life
2. Prudential
3. Lincoln National Life
4. Equitable Financial
5. Nationwide
6. Pacific Life Companies
7. New York Life
8. RiverSource Life
9. AIG
10. Transamerica
LEADERS BY CHANNEL:
Bank- Jackson National Life
Career- Equitable Financial
Direct Response- Fidelity Investments
Independent Broker Dealer- Jackson National Life
National Broker Dealer- Jackson National Life
Registered Investment Advisor- Nationwide
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Bank- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Career- AXA Equitable Equivest
Direct Response- Fidelity Fidelity Personal Retirement Annuity
Fee-Based Overall- Fidelity Fidelity Personal Retirement Annuity
Independent Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
National Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Registered Investment Advisor- Pacific Life Pacific Odyssey VA
Wink anticipates compiling second quarter, 2020’s sales with a release date of August 2020.