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  • Third Quarter 2024 Annuity Sales

    November 27, 2024 by Sheryl J. Moore

    All Annuity Sales

    Total 3Q2024 all annuity sales $115,272 million. Third quarter annuity sales were up nearly 7% when compared to the previous quarter. Given that this is the third quarter that Wink has collected data on income annuity sales, additional comparisons will be available in future quarters.

    Deferred Annuity Sales

    Total 3Q2024 deferred annuity sales were $110,967 million, compared with sales of $79,231 million for the third quarter of 2023. Third quarter deferred annuity sales were up more than 6% when compared to the previous quarter and up more than 40% when compared to the same period last year.

    Non-Variable Deferred Annuity Sales

    Total 3Q2024 non-variable deferred annuity sales were $79,763 million, compared with sales of $54,799 million for the third quarter of 2023. Third quarter non-variable deferred annuity sales were up more than 8% when compared to the previous quarter, and up nearly 46% 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 3Q2024 variable deferred annuity sales $31,204 million, compared with sales of $24,432 million for the third quarter of 2023. Third quarter variable deferred annuity sales were up less than 1% when compared to the previous quarter, and up nearly 28% when compared to the same period last year. Variable deferred annuities include sales of structured and variable deferred annuities.

    Income Annuity Sales

    Total 3Q2024 income annuity sales were $4,304 million. Third quarter income annuity sales were up more than 27% when compared to the previous quarter. Given that this is the third quarter that Wink has collected data on income annuity sales, additional 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 third quarter of 2024 were $42,403 million, compared with sales of $30,957 million for the third quarter of 2023. Third quarter MYGA sales were up more than 3% when compared to the previous quarter, and up nearly 37% when compared to the same period last year.

    Total 3Q2024 MYGA sales were $42,403,841,124.

     

    THE TOP TEN MYGA CARRIERS FOR THE QUARTER:

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

     

    TOP SELLING PRODUCTS BY CHANNEL:
    Overall- Massachusetts Mutual Life Stable Voyage 3-Year

    Bank- Athene Annuity Athene MYG 5 with MVA

    Registered Investment Advisor- American Life Fee-Based Fixed Deferred Annuity 5-Year

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

    Independent Broker Dealer- Pruco Life Prudential FA with Daily Advantage Income Benefit

    Career- Thrivent Financial MYG 9-Year

    Direct Response- Puritan Life Canvas 7-Year

    Independent Agent- American National Life Palladium MYG 5

    Fee-Based Overall- American Life Fee-Based Fixed Deferred Annuity 5-Year

     

    LEADERS BY CHANNEL:
    Bank- Athene USA

    Registered Investment Advisor- American Life

    Full Service National Broker Dealer- Massachusetts Mutual Life Companies

    Independent Broker Dealer- Prudential

    Career- New York Life

    Direct Response- Puritan Life

    Independent Agent- American National

     

    AVERAGE COMMISSION:
    The multi-year guaranteed annuity commission received by the agent averaged 2.58% of premium for the third quarter of 2024; an increase of 0.19% from last quarter.

     

    Fixed Annuity

    Sales for the third quarter of 2024 were $516 million, compared to sales of $495 million for the third quarter of 2023. Third quarter fixed annuity sales were up more than 2% when compared to the previous quarter, and up more than 4% when compared with the same period last year.

    Total 3Q2024 fixed annuity sales were $516,796,420.

     

    THE TOP TEN FIXED ANNUITY CARRIERS FOR THE QUARTER:

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

     

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

    Bank- Forethought Life ForeCare Fixed Annuity

    Full Service National Broker Dealer- Forethought Life ForeCare Fixed Annuity

    Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity

    Career- United of Omaha Bonus Flexible Annuity

    Independent Agent- CL Life CL Tarrant Trail

     

    LEADERS BY CHANNEL:
    Bank- OneAmerica

    National Broker Dealer- Global Atlantic Financial Group

    Independent Broker Dealer- Global Atlantic Financial Group

    Career- CNO Companies

    Direct Response- Corebridge Financial

    Independent Agent- CL Life

     

    AVERAGE COMMISSION:
    The fixed annuity commission received by the agent averaged 5.52% of premium for the third quarter of 2024; a trend that is down 0.14% when compared to last quarter.

     

     

    Indexed Annuity

    Sales for the third quarter of 2024 were $36,842 million, compared with sales of $23,345 million for the third quarter of 2023. Third quarter indexed annuity sales were up nearly 15% when compared to the previous quarter, and up nearly 58% when compared to the same period last year. This was a record-setting quarter for indexed annuity sales, topping the prior 2nd quarter 2024 record by 14.61%.

     Total 3Q2024 indexed annuity sales were $36,842,573,671.

     

    THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE QUARTER:

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

     

    TOP SELLING PRODUCTS BY CHANNEL: 
    Overall- Allianz Life Allianz Benefit Control Annuity

    Bank- American General Power Index 5 Plus Annuity

    Registered Investment Advisor- Midland National Life Capital Income FIA

    Full Service National Broker Dealer- Allianz Life Essential Income 7 Annuity

    Independent Broker Dealer- Athene Annuity Athene Ascent Pro 10

    Career- Bankers L&C Flexible Premium Bonus IA

    Independent Agent- Guaranty Income Life WealthChoice FIA 10-Year

    Fee-Based Overall- Midland National Life Capital Income FIA

     

    LEADERS BY CHANNEL:
    Bank- Corebridge Financial

    Registered Investment Advisor- Sammons Financial Companies

    Full Service National Broker Dealer- Allianz Life

    Independent Broker Dealer- Allianz Life

    Career- CNO Companies

    Independent Agent- Allianz Life

     

    AVERAGE COMMISSION:
    The indexed annuity commission received by the agent averaged 6.53% of premium for the third quarter of 2024; a trend that is down 0.12% from the prior quarter.

     

     

    Structured Annuity

    Sales for the third quarter of 2024 were $16,100 million compared with sales of $12,092 million for the third quarter of 2023. Third quarter structured annuity sales were up nearly 3% when compared to the previous quarter, and up more than 33% when compared to the same period last year. This was a record-setting quarter for structured annuity sales, topping the prior 2nd quarter 2024 record by 2.81%.

    Total 3Q2024 structured annuity sales were $16,100,431,348.

     

    THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE QUARTER:

    1. Equitable Financial
    2. Allianz Life
    3. Prudential
    4. Brighthouse Financial
    5. Jackson National Life
    6. Lincoln National Life
    7. RiverSource life
    8. Transamerica
    9. Symetra Financial
    10. Nationwide

     

    TOP SELLING PRODUCTS BY CHANNEL: 
    Overall- Equitable Structured Capital Strategies Plus 21

    Bank- Equitable Structured Capital Strategies Plus 21

    Registered Investment Advisor- Lincoln National Life Lincoln Level Advantage Advisory

    Full Service National Broker Dealer- Transamerica Life Structured Index Advantage Annuity

    Independent Broker Dealer- Jackson National Jackson Market Link Pro II

    Career- Equitable Structured Capital Strategies Plus 21

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

    Fee-Based Overall- Equitable Structured Capital Strategies Plus 21 Series ADV

     

    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 third quarter of 2024 were $15,103 million, compared with sales of $12,340 million for the third quarter of 2023. Third quarter variable annuity sales were down more than 1% when compared to the previous quarter, and up more than 22% when compared to the same period last year.

    Total 3Q2024 variable annuity sales were $15,103,794,422.

     

    THE TOP TEN VARIABLE CARRIERS FOR THE QUARTER:

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

     

    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- Jefferson National Life Monument Advisor

    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- Nationwide

    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 third quarter of 2024 were $3,104 million. Third quarter immediate income annuity sales were up nearly 22% when compared to the previous quarter. Given that this is the third quarter that Wink has collected data on immediate income annuity sales, additional comparisons will be available in future quarters.

    Total 3Q2024 immediate income annuity sales were $3,104,502,311.

     

    THE TOP TEN IMMEDIATE INCOME CARRIERS FOR THE QUARTER:

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

     

    LEADERS BY CHANNEL:
    Bank- New York Life

    Registered Investment Advisor- Pacific Life Companies

    Full Service Broker Dealer- New York Life

    Independent Broker Dealer- Nationwide

    Career- New York Life

    Direct Response- Brighthouse Financial

    Independent Agent- Nationwide

     

     

    Deferred Income Annuity

    Sales for the third quarter of 2024 were $1,200 million. Third quarter deferred income annuity sales were up nearly 45% when compared to the previous quarter. Given that this is the third quarter that Wink has collected data on deferred income annuity sales, additional comparisons will be available in future quarters.

    Total 3Q2024 deferred annuity sales were $1,200,388,019.

     

    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. Integrity Life Companies
    5. Corebridge Financial
    6. Symetra Financial
    7. Brighthouse Financial
    8. Global Atlantic Financial Group
    9. Thrivent Financial 
    10. Pacific Life Companies

     

    LEADERS BY CHANNEL:
    Bank- New York Life

    Registered Investment Advisor- Pacific Life Companies

    Full Service National Broker Dealer- New York Life

    Independent Broker Dealer- Brighthouse Financial

    Career- New York Life

    Independent Agent- Integrity Life Companies

     

     

     

    Wink anticipates compiling fourth quarter, 2024’s sales with a release date of March 2025.

    -SJM

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