Annuities’ Bubble Shines! The World, Not So Much.
December 3, 2024 by Allison Bell
Annuity market trends were strong in the third quarter, with executives from companies like Equitable, F&G and Jackson having little to say about sales beyond expressions of joy.
Helpful factors include an increase in the number of baby boomers retiring, interest rates that are higher than they were during the 2009-2022 lower-for-longer period and more financial advisors’ willingness to recommend annuities to some clients.
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Wink Inc., a private firm that surveys a similar group of insurers about a somewhat different list of annuity types, found 28% year-over-year growth in sales for the variable annuity types it covers and 46% growth in non-variable annuity sales.
Here are the Wink survey results by product type:
- Non-variable indexed annuities: $37 billion (up 58%)
- Multi-year guaranteed annuities: $42 billion (up 37%)
