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  • SECOND QUARTER 2020 ANNUITY SALES

    August 26, 2020 by Sheryl J. Moore

    Deferred Annuity Sales
    Total 2Q2020 deferred annuity sales were $45,910,530,107. Second quarter deferred annuity sales were down nearly 13% when compared to the previous quarter.

     

     

     

     

     

     

     

     

     

     

     

    Non-Variable Deferred Annuity Sales
    Total 2Q2020 non-variable deferred annuity sales were $25,782,614,323. Second quarter non-variable deferred annuity sales were down nearly 5% when compared to the previous quarter, and down over 22% when compared to the same period last year.

    Variable Deferred Annuity Sales
    Total 2Q2020 variable deferred annuity sales were $20,127,915,784. Second quarter variable annuity sales were down more than 21% when compared to the previous quarter, and down nearly 20% when compared to the same period last year.

     

    Indexed Annuity
    Sales for the second quarter of 2020 were $12,832 million, compared with sales of $19,698 million for the second quarter of 2019. Second quarter indexed annuity sales were down nearly 22% when compared to the previous quarter, and down nearly 35% when compared to the same period last year.

    Total 2Q2020 indexed annuity sales were $12,832,565,171.

    THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE SECOND QUARTER OF 2020:
    1. Athene USA
    2. Allianz Life
    3. Fidelity & Guaranty Life
    4. AIG
    5. Sammons Financial Companies
    6. Security Benefit Life
    7. Global Atlantic Financial Group
    8. American Equity Companies
    9. Equitable Life & Casualty
    10. Great American Insurance Group

    AVERAGE COMMISSION:
    The indexed annuity commission received by the agent averaged 6.37% of premium for the second 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- Athene USA
    Independent Broker Dealer- Allianz Life
    National Broker Dealer- Global Atlantic Financial Group
    Registered Investment Advisor- Great American Insurance Group

    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- Great American Index Protector 7
    Independent Agent- Allianz Life Allianz 222 Annuity
    Independent Broker Dealer- Allianz Life Allianz 222 Annuity
    National Broker Dealer- Forethought Life ForeIncome II FIA 7-Year
    Registered Investment Advisor- Great American Index Protector 7

     

     

    Fixed Annuity
    Sales for the second quarter of 2020 were $425 million, compared to sales of $873 million for the second quarter of 2019. Second quarter fixed annuity sales were down more than 38% when compared to the previous quarter, and down more than 51% when compared with the same period last year.

    Total 2Q2020 fixed annuity sales were $425,785,580.

    THE TOP TEN FIXED ANNUITY CARRIERS FOR THE SECOND QUARTER OF 2020:
    1. Modern Woodmen of America
    2. EquiTrust
    3. Global Atlantic Financial Group
    4. Jackson National Life
    5. Brighthouse Financial
    6. OneAmerica
    7. Great American Insurance Group
    8. American National
    9. AIG
    10. National Life Group

    AVERAGE COMMISSION:
    The fixed annuity commission received by the agent averaged 5.50% of premium for the second quarter of 2020; a trend that was up when compared to last quarter.

    LEADERS BY CHANNEL:
    Bank- OneAmerica
    Career- Modern Woodmen of America
    Direct Response- American National
    Independent Agent- EquiTrust
    Independent Broker Dealer- Brighthouse Financial
    National Broker Dealer- Global Atlantic Financial Group
    Registered Investment Advisor- N/A

    TOP SELLING PRODUCTS BY CHANNEL:
    Overall- EquiTrust ChoiceFour with Liquidity Rider
    Bank- State Life Annuity Care II
    Career- Kansas City Life Growth Track
    Direct Response- American National of New York WealthQuest Citadel 5 Diamond
    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 second quarter of 2020 were $12,524 million, compared with sales of $12,571 million for the second quarter of 2019. Second quarter MYGA sales were up nearly 26% when compared to the previous quarter, and down less than 1% when compared to the same period last year.

    Total 2Q2020 MYGA sales were $12,524,263,572.

    THE TOP TEN MYGA CARRIERS FOR THE SECOND QUARTER OF 2020:
    1. Massachusetts Mutual Life Companies
    2. New York Life
    3. Sammons Financial Group
    4. Global Atlantic Financial Group
    5. Symetra Financial
    6. Pacific Life Companies
    7. Security Benefit Life
    8. AIG
    9. Athene USA
    10. Delware Life

    AVERAGE COMMISSION:
    The multi-year guaranteed annuity commission received by the agent averaged 1.69% of premium for the second quarter of 2020; a decline from last quarter.
    LEADERS BY CHANNEL:
    Bank- Global Atlantic Finanical Group
    Career- New York Life
    Direct Response- N/A
    Independent Agent- Sammons Financial Companies
    Independent Broker Dealer- Sammons Financial Companies
    National Broker Dealer- Massachusetts Mutual Life Companies
    Registered Investment Advisor- Securian Financial

    TOP SELLING PRODUCTS BY CHANNEL:
    Overall- Massachusetts Mutual Life Stable Voyage 3-Year
    Bank- Forethought Life SecureFore 3 Fixed Annuity
    Career- Massachusetts Mutual Life Stable Voyage 3-Year
    Direct Response- N/A
    Independent Agent- North American Guarantee Choice 7-Year
    Independent Broker Dealer- Midland National Life LiveWell Guarantee Annuity 3-Year
    National Broker Dealer- Massachusetts Mutual Life Stable Voyage 3-Year
    Registered Investment Advisor- N/A

     

     

    Structured Annuity
    Sales for the second quarter of 2020 were $4,526 million compared with sales of $4,138 million for the second quarter of 2019. Second quarter structured annuity sales were down more than 7% when compared to the previous quarter, and up more than 9% when compared to the same period last year.

    Total 2Q2020 structured annuity sales were $4,526,363,016.

    THE TOP STRUCTURED ANNUITY CARRIER FOR THE SECOND QUARTER OF 2020:
    Lincoln National Life

    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- Equitable Financial 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 second quarter of 2020 were $15,601 million, compared with sales of $20,990 million for the second quarter of 2019. Second quarter variable annuity sales were down nearly 25% when compared to the previous quarter, and down nearly 26% when compared to the same period last year.

    Total 2Q2020 variable annuity sales were $15,601,552,768.

    THE TOP TEN VARIABLE CARRIERS FOR THE SECOND QUARTER OF 2020:
    1. Jackson National Life
    2. Equitable Financial
    3. Lincoln National Life
    4. Prudential
    5. New York Life
    6. Nationwide
    7. Pacific Life Companies
    8. Transamerica
    9. AIG
    10. RiverSource Life

    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- Transamerica

    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- Equitable Financial Equi-Vest
    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 third quarter, 2020’s sales with a release date of November 2020.

    Categories: Sheryl's Blogs
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