Life Insurance Sales Battle Through Tough 1Q, Wink Reports
June 9, 2020 by John Hilton
First-quarter non-variable universal life sales totaled $770.3 million, down 2.5% over the first quarter 2019, according to Wink’s Sales & Market Report.
In addition to the COVID-19 pandemic, which interrupted sales near the end of the quarter, insurers had to deal with new mortality tables and principle-based reserving formulas. The new regulations forced a repricing of many products, said Sheryl Moore, president and CEO of both Moore Market Intelligence and Wink, Inc.