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  • First Quarter 2024 Annuity Sales

    June 6, 2024 by Sheryl J. Moore

    All Annuity Sales

    Total 1Q2024 all annuity sales $105,705 million. Given that this is the first quarter that Wink has collected data on income annuity sales, comparisons will be available in future quarters. All annuities include sales of multi-year guaranteed, fixed, indexed, structured, variable, immediate income, and deferred income annuities.

    Deferred Annuity Sales

    Total 1Q2024 deferred annuity sales $100,534 million, compared with sales of $84,741 million for the first quarter of 2023. First quarter deferred annuity sales were down more than 3% when compared to the previous quarter and up nearly 19% when compared to the same period last year. Deferred annuities include sales of multi-year guaranteed, fixed, indexed, structured, and variable annuities.

    Non-Variable Deferred Annuity Sales

    Total 1Q2024 non-variable deferred annuity sales were $73,436 million, compared with sales of $62,911 million for the first quarter of 2023. First quarter non-variable deferred annuity sales were down nearly 8% when compared to the previous quarter, and up nearly 17% when compared to the same period last year. Non-variable deferred annuities include sales of multi-year guaranteed, fixed, and indexed deferred annuities.

    Variable Deferred Annuity Sales

    Total 1Q2024 variable deferred annuity sales were $27,098 million, compared with sales of $21,829 million for the first quarter of 2023. First quarter variable deferred annuity sales were up more than 12% when compared to the previous quarter, and up more than 24% when compared to the same period last year. Variable deferred annuities include sales of structured and variable deferred annuities.

    Income Annuity Sales

    Total 1Q2024 income annuity sales were $5,170 million. Given that this is the first quarter that Wink has collected data on income annuity sales, comparisons will be available in future quarters. Income annuities include sales of immediate income and deferred income annuities.

     

     

    Multi-Year Guaranteed Annuity

    Sales for the first quarter of 2024 were $43,780 million, compared with sales of $39,922 million for the first quarter of 2023. First quarter MYGA sales were down nearly 17% when compared to the previous quarter, and up nearly 10% when compared to the same period last year.

    Total 1Q2024 MYGA sales were $43,780,595,505.

     

    THE TOP TEN MYGA CARRIERS FOR THE QUARTER:

    1. Athene USA
    2. Corebridge Financial
    3. Global Atlantic Financial Group
    4. New York Life
    5. Delaware Life
    6. Massachusetts Mutual Life Companies
    7. Symetra Financia
    8. Nationwide
    9. Protective Life Companies
    10. Fidelity & Guaranty Life

     

    TOP SELLING PRODUCTS BY CHANNEL:
    Overall- Forethought Life SecureFore 3 Fixed Annuity

    Bank- Forethought Life SecureFore 3 Fixed Annuity

    Registered Investment Advisor- Aspida Life Aspida Advisory MYGA 5-Year

    Full Service National Broker Dealer- Massachusetts Mutual Life Stable Voyage 3-Year

    Independent Broker Dealer- Delaware Life Apex MYGA 5-Year

    Career- Thrivent Financial MYG 9-Year

    Direct Response- Puritan Life Canvas 5-Year

    Independent Agent- EquiTrust Life Certainty Select 5

    Fee-Based Overall- Aspida Life Aspida Advisory MYGA 5-Year

     

    LEADERS BY CHANNEL:
    Bank- Athene USA

    Registered Investment Advisor- Aspida Life

    Full Service National Broker Dealer- New York Life

    Independent Broker Dealer- Delaware Life

    Career- Thrivent Financial

    Direct Response- Puritan Life

    Independent Agent- EquiTrust

     

    AVERAGE COMMISSION:
    The multi-year guaranteed annuity commission received by the agent averaged 2.33% of premium for the first quarter of 2024; an increase of 0.42% from last quarter. 

     

    Fixed Annuity

    Sales for the first quarter of 2024 were $546 million, compared to sales of $382 million for the first quarter of 2023. First quarter fixed annuity sales were down more than 25% when compared to the previous quarter, and up nearly 43% when compared with the same period last year.

    Total 1Q2024 fixed annuity sales were $546,768,203.

     

    THE TOP TEN FIXED ANNUITY CARRIERS FOR THE QUARTER:

    1. Global Atlantic Financial Group
    2. Modern Woodmen of America
    3. EquiTrust
    4. CNO Companies
    5. Nationwide
    6. Western-Southern Life Assurance Company
    7. CL Life
    8. National Life Group
    9. OneAmerica
    10. Reliance Standard

     

    TOP SELLING PRODUCTS BY CHANNEL:
    Overall- Forethought Life ForeCare Fixed Annuity

    Bank- Forethought Life ForeCare Fixed Annuity

    Full Service National Broker Dealer- Western-Southern Life Senior Select 1-Year

    Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity

    Career- American National WealthQuest Citadel 7 Diamond

    Independent Agent- EquiTrust ChoiceFour with Liquidity Rider

     

    LEADERS BY CHANNEL:
    Bank- OneAmerica

    National Broker Dealer- Western-Southern Life Assurance Company

    Independent Broker Dealer- Global Atlantic Financial Group

    Career- Modern Woodmen of America

    Direct Response- Corebridge Financial

    Independent Agent- EquiTrust

     

    AVERAGE COMMISSION:
    The fixed annuity commission received by the agent averaged 5.70% of premium for the first quarter of 2024; a trend that is up 0.05% when compared to last quarter.

     

     

     

    Indexed Annuity

    Sales for the first quarter of 2024 were $29,108 million, compared with sales of $22,606 million for the first quarter of 2023. First quarter indexed annuity sales were up more than 4% when compared to the previous quarter, and up nearly 29% when compared to the same period last year. This was a record-setting quarter for indexed annuity sales, topping the prior 4th quarter 2023 record by 4.08%.

     Total 1Q2024 indexed annuity sales were $29,108,911,511.

    THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE QUARTER:

    1. Athene USA
    2. Allianz Life
    3. Sammons Financial Companies
    4. Corebridge Financial
    5. Nationwide
    6. American Equity Companies
    7. Fidelity & Guaranty Life
    8. Global Atlantic Financial Group
    9. Massachusetts Mutual Life Companies
    10. AuguStar Retirement

     

    TOP SELLING PRODUCTS BY CHANNEL: 
    Overall- Nationwide L&A Nationwide New Heights Select 9

    Bank- American General Power Index 5 Plus Annuity

    Registered Investment Advisor- Midland National Life Capital Income

    Full Service National Broker Dealer- Forethought Life ForeAccumulation II FIA 5-Year

    Independent Broker Dealer- Athene Annuity Athene Ascent Pro 10

    Career- Pruco Life Prudential SurePath Income FIA

    Direct Response- Pruco Life PruSecure 5-Year

    Independent Agent- American Equity IncomeShield 10

    Fee-Based Overall- Midland National Life Capital Income

     

    LEADERS BY CHANNEL:
    Bank- Corebridge Financial

    Registered Investment Advisor- Sammons Financial Companies

    Full Service National Broker Dealer- Global Atlantic Financial Group

    Independent Broker Dealer- Athene USA

    Career- Prudential

    Direct Response- Prudential

    Independent Agent- Athene USA

     

    AVERAGE COMMISSION:
    The indexed annuity commission received by the agent averaged 6.62% of premium for the first quarter of 2024; a trend that is up 0.03% from the prior quarter.

     

     

     

    Structured Annuity

    Sales for the first quarter of 2024 were $13,951 million compared with sales of $9,671 million for the first quarter of 2023. First quarter structured annuity sales were up nearly 12% when compared to the previous quarter, and up more than 44% when compared to the same period last year. This was a record-setting quarter for structured annuity sales, topping the prior 4th quarter 2023 record by 11.71%.

    Total 1Q2024 structured annuity sales were $13,951,516,066.

     

    THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE QUARTER:

    1. Equitable Financial
    2. Allianz Life
    3. Brighthouse Financial
    4. Prudential
    5. Jackson National Life
    6. RiverSource Life
    7. Lincoln National Life
    8. Nationwide
    9. Athene USA
    10. TruStage

     

    TOP SELLING PRODUCTS BY CHANNEL: 
    Overall- Pruco Life Prudential FlexGuard Indexed VA

    Bank- Allianz Life Allianz Index Advantage+ NF VA

    Registered Investment Advisor- Lincoln National Life Lincoln Level Advantage Advisory

    Full Service National Broker Dealer- Pruco Life Prudential FlexGuard Indexed VA

    Independent Broker Dealer- Jackson National Jackson Market Link Pro II

    Career- RiverSource Life Structured Solutions 2 6-Year

    Direct Response- Brighthouse Life Brighthouse Shield Level Select 3-Year

    Fee-Based Overall- Lincoln National Life Lincoln Level Advantage Advisory

     

    LEADERS BY CHANNEL:
    Bank- Equitable Financial

    Registered Investment Advisor- Lincoln National Life

    Full Service National Broker Dealer- Allianz Life

    Independent Broker Dealer- Allianz Life

    Career- Equitable Financial

    Direct Response- Brighthouse Financial

    Independent Agent- Brighthouse Financial

     

     

    Variable Annuity

    Sales for the first quarter of 2024 were $13,146 million, compared with sales of $12,158 million for the first quarter of 2023. First quarter variable annuity sales were up nearly 13% when compared to the previous quarter, and up more than 8% when compared to the same period last year.

    Total 1Q2024 variable annuity sales were $13,146,683,871.

     

    THE TOP TEN VARIABLE CARRIERS FOR THE QUARTER:

    1. Jackson National Life
    2. Equitable Financial
    3. New York Life
    4. Nationwide
    5. Lincoln National Life
    6. Pacific Life Companies
    7. Fidelity Investments
    8. Corebridge Financial
    9. Thrivent Financial
    10. 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

    Registered Investment Advisor- Lincoln National Life ChoicePlus Assurance Series B Share

    Full Service National Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity

    Independent Broker Dealer- 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

     

    LEADERS BY CHANNEL:
    Bank- Jackson National Life

    Registered Investment Advisor- Lincoln National Life

    Full Service National Broker Dealer- Jackson National Life

    Independent Broker Dealer- Jackson National Life

    Career- Equitable Financial

    Direct Response- Fidelity Investments

     

     

    Immediate Income Annuity

    Sales for the first quarter of 2024 were $4,340 million. Given that this is the first quarter that Wink has collected data on immediate income annuity sales, comparisons will be available in future quarters.

    Total 1Q2024 variable annuity sales were $4,340,062,979.

     

    THE TOP TEN IMMEDIATE INCOME CARRIERS FOR THE QUARTER:

    1. Nationwide
    2. New York Life
    3. Massachusetts
    4. Penn Mutual
    5. Western-Southern Life Assurance Company
    6. Pacific Life Companies
    7. Symetra Financial
    8. RiverSource Life
    9. Integrity Life Companies
    10. Global Atlantic Financial Group

     

    LEADERS BY CHANNEL:
    Bank- Nationwide

    Registered Investment Advisor- Pacific Life Companies

    Full Service National Broker Dealer- New York Life

    Independent Broker Dealer- Nationwide

    Career- New York Life

    Independent Agent- Nationwide

     

     

    Deferred Income Annuity

    Sales for the first quarter of 2024 were $830 million. Given that this is the first quarter that Wink has collected data on deferred income annuity sales, comparisons will be available in future quarters.

    Total 1Q2024 variable annuity sales were $830,586,069.

     

    THE TOP TEN DEFERRED INCOME CARRIERS FOR THE QUARTER:

    1. New York Life
    2. Massachusetts Mutual Life Companies
    3. Western-Southern Life Assurance Company
    4. Symetra Financial
    5. Integrity Life Companies
    6. Brighthouse Financial
    7. Pacific Life Companies
    8. Corebridge Financial
    9. Global Atlantic Financial Group
    10. Thrivent Financial 

     

    LEADERS BY CHANNEL:
    Bank- New York Life

    Registered Investment Advisor- Integrity Life Companies

    Full Service National Broker Dealer- Western-Southern Life Assurance Company

    Independent Broker Dealer- Pacific Life Companies

    Career- New York Life

    Direct Response- New York Life

    Independent Agent- Symetra Financial

     

     

    Wink anticipates compiling second quarter, 2024’s sales with a release date of August 2024. -sjm

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