FIRST QUARTER 2021 ANNUITY SALES
June 28, 2021 by Sheryl J. Moore
Deferred Annuity Sales
Total 1Q2021 deferred annuity sales were $58,167,100,339. First quarter deferred annuity sales were up more than 3% when compared to the previous quarter and were up more than 10% when compared to the same period last year. Deferred annuities include sales of fixed, indexed, multi-year guaranteed, structured, and variable deferred annuities.
Non-Variable Deferred Annuity Sales
Sales of non-variable deferred annuities for the first quarter of 2021 were $28,093,427,358. First quarter non-variable deferred annuity sales were down nearly 3% when compared to the previous quarter, and up nearly 6% when compared to the same period last year. Non-variable deferred annuities include sales of fixed, indexed, and multi-year guaranteed deferred annuities
Variable Deferred Annuity Sales
Total 1Q2021 variable deferred annuity sales were $30,073,672,981. First quarter variable deferred annuity sales were up more than 9% when compared to the previous quarter, and up nearly 18% when compared to the same period last year. Variable deferred annuities include sales of structured and variable deferred annuities.
Indexed Annuity
Sales for the first quarter of 2021 were $14,414 million, compared with sales of $16,425 million for the first quarter of 2020. First quarter indexed annuity sales were down more than 4% when compared to the previous quarter, and down more than 12% when compared to the same period last year.
Total 1Q2021 indexed annuity sales were $14,414,032,838.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2021:
- Athene USA
- AIG
- Allianz Life
- Fidelity & Guaranty Life
- Sammons Financial Companies
- Global Atlantic Financial Group
- SILAC Insurance Company
- American Equity Companies
- Security Benefit Life
- Great American Life
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 5.64% of premium for the first quarter of 2021; a trend that is up 0.06% from prior quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- CNO Companies
Direct Response- N/A
Independent Agent- Athene USA
Independent Broker Dealer- Sammons Financial Companies
National Broker Dealer- Protective Life Companies
Registered Investment Advisor- Great American Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Allianz Life Allianz Benefit Control Annuity
Bank- American General Power Index 5 Plus Annuity
Career- Bankers Life & Casualty Guaranteed Lifetime Income Annuity
Direct Response- N/A
Fee-Based Overall- American General Power Index Advisory IA
Independent Agent- Allianz Life Allianz Benefit Control Annuity
Independent Broker Dealer- Allianz Life Allianz Benefit Control Annuity
National Broker Dealer- American General Power Index 5 Plus Annuity
Registered Investment Advisor- Great American Index Protector 5 MVA
Fixed Annuity
Sales for the first quarter of 2021 were $477 million, compared to sales of $691 million for the first quarter of 2020. First quarter fixed annuity sales were up nearly 1% when compared to the previous quarter, and down 31% when compared with the same period last year.
Total 1Q2021 fixed annuity sales were $477,050,388.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2021:
- Modern Woodmen of America
- Global Atlantic Financial Group
- Jackson National Life
- EquiTrust
- Brighthouse Financial
- American National
- AIG
- OneAmerica
- Great American Life
- National Life Group
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 5.71% of premium for the first quarter of 2021; a trend that is up 1.22% when compared to last quarter.
LEADERS BY CHANNEL:
Bank- OneAmerica
Career- Modern Woodmen of America
Direct Response- AIG
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- Forethought Life ForeCare Fixed Annuity
Bank- Forethought Life ForeCare Fixed Annuity
Career- Bankers Life & Casualty Bonus Annuity
Direct Response- N/A
Fee-Based Overall- N/A
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 2021 were $13,202 million, compared with sales of $9,968 million for the first quarter of 2020. First quarter MYGA sales were down less than 1% when compared to the previous quarter, and up more than 32% when compared to the same period last year.
Total 1Q2021 MYGA sales were $13,202,344,132.
THE TOP TEN MYGA CARRIERS FOR THE First QUARTER OF 2021:
- New York Life
- American Equity Companies
- Global Atlantic Financial Group
- Symetra Financial
- AIG
- Western-Southern Life Assurance Company
- Fidelity & Guaranty Life
- Sammons Financial Companies
- Great American Life
- Prosperity Life Insurance Group
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 1.97% of premium for the first quarter of 2021; a decline of 0.23% from last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Finanical Group
Career- New York Life
Direct Response- N/A
Independent Agent- American Equity Companies
Independent Broker Dealer- American Equity Companies
National Broker Dealer- New York Life
Registered Investment Advisor- Security Benefit Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Eagle Life Eagle Guarantee Focus 3
Bank- Forethought Life SecureFore 5 Fixed Annuity
Career- Prudential Annuities Prudential Fixed Annuity with Daily Advantage Income Benefit
Direct Response- N/A
Fee-Based Overall- Security Benefit Life Advanced Choice Annuity 4-Year
Independent Agent- American Equity GuaranteeShield 3
Independent Broker Dealer- Eagle Life Eagle Guarantee Focus 3
National Broker Dealer- Western-Southern Life SmartSelect 3-Year
Registered Investment Advisor- Security Benefit Life Advanced Choice Annuity 4-Year
Structured Annuity
Sales for the first quarter of 2021 were $9,052 million compared with sales of $4,873 million for the first quarter of 2020. First quarter structured sales were up nearly 8% when compared to the previous quarter, and up nearly 86% when compared to the same period last year. This was a record-setting quarter for structured annuity sales, topping the prior 4Q2020 record by nearly 8%.
Total 1Q2021 structured annuity sales were $9,052,436,355.
THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2021:
- Equitable Financial
- Prudential
- Allianz Life
- Lincoln National Life
- Brighthouse Financial
- RiverSource Life
- CUNA Mutual Life
- Athene USA
- Nationwide
- Great American Life
LEADERS BY CHANNEL:
Bank- Equitable Financial
Career- RiverSource Life
Direct Response- N/A
Independent Broker Dealer- Allianz Life
National Broker Dealer- Allianz Life
Registered Investment Advisor- Lincoln National Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Pruco Life Prudential FlexGuard Indexed Variable Annuity
Bank- Equitable Financial Structured Capital Strategies Plus
Career- RiverSource Life Structured Solutions 6-Year
Direct Response- N/A
Fee-Based Overall- N/A
Independent Broker Dealer- Pruco Life Prudential FlexGuard Indexed Variable Annuity
National Broker Dealer- Allianz Life Allianz Index Advantage
Registered Investment Advisor- Lincoln National Life Lincoln Level Advantage Advisory
Variable Annuity
Sales for the first quarter of 2021 were $21,021 million, compared with sales of $20,744 million for the first quarter of 2020. First quarter variable annuity sales were up nearly 10% when compared to the previous quarter, and up over 1% when compared to the same period last year.
Total 1Q2021 variable annuity sales were $21,021,236,626.
THE TOP TEN Variable CARRIERS FOR THE First QUARTER OF 2021:
- Jackson National Life
- Nationwide
- Equitable Financial
- Lincoln National Life
- Pacific Life Companies
- New York Life
- AIG
- RiverSource Life
- Thrivent Financial
- Fidelity Investments
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- Lincoln National Life
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 Variable Annuity
Wink anticipates compiling second quarter, 2021’s sales with a release date of August 2021.
