Fourth Quarter, 2024 Annuity Sales
March 4, 2025 by Sheryl J. Moore
All Annuity Sales
Total 4Q2024 all annuity sales were $100,224 million. Fourth quarter annuity sales were down more than 13% when compared to the previous quarter. Given that this is the fourth quarter that Wink has collected data on income annuity sales, additional comparisons will be available in future quarters. All annuity sales include sales of multi-year guaranteed, fixed, indexed, structured, variable, immediate income, and deferred income annuity sales.
Deferred Annuity Sales
Total 4Q2024 deferred annuity sales were $96,663 million, compared with sales of $103,665 million for the fourth quarter of 2023. Fourth quarter deferred annuity sales were down nearly 13% when compared to the previous quarter and down nearly 7% when compared to the same period last year. All deferred annuity sales include sales of multi-year guaranteed, fixed, indexed, structured, and variable annuity sales.
Non-Variable Deferred Annuity Sales
Total 4Q2024 non-variable deferred annuity sales were $61,613 million, compared with sales of $79,533 million for the fourth quarter of 2023. Fourth quarter non-variable deferred annuity sales were down nearly 23% when compared to the previous quarter, and down nearly 23% 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 4Q2024 variable deferred annuity sales were $35,050 million, compared with sales of $24,132 million for the fourth quarter of 2023. Fourth quarter variable deferred annuity sales were up more than 12% when compared to the previous quarter, and up more than 45% when compared to the same period last year. Variable deferred annuities include sales of structured and variable deferred annuities.
Income Annuity Sales
Total 4Q2024 income annuity sales were $3,560 million. Fourth quarter income annuity sales were down more than 17% when compared to the previous quarter. Given that this is the fourth 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 fourth quarter of 2024 were $29,124 million, compared with sales of $52,643 million for the fourth quarter of 2023. Fourth quarter MYGA sales were down more than 31% when compared to the previous quarter, and down nearly 45% when compared to the same period last year.
Total 4Q2024 MYGA sales were $29,124,263,592.
Total 2024 MYGA sales were $156,343,235,620.
THE TOP TEN MYGA CARRIERS FOR THE QUARTER:
- Athene USA
- Massachusetts Mutual Life Companies
- New York Life
- Corebridge Financial
- Western-Southern Life Assurance Company
- American National
- Symetra Financial
- Delaware Life
- Sammons Financial Companies
- Thrivent Financial
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Massachusetts Mutual Life Stable Voyage 3-Year
Bank- Athene Annuity Athene MYG 5 with MVA
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- Pruco Life Prudential FA with Daily Advantage Income Benefit
Career- Thrivent Financial MYG 9-Year
Direct Response- Puritan Life Canvas 7-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- Massachusetts Mutual Life Companies
Independent Broker Dealer- Prudential
Career- New York Life
Direct Response- Puritan Life
Independent Agent- EquiTrust
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.47% of premium for the fourth quarter of 2024; a decline of 0.11% from last quarter.
Fixed Annuity
Sales for the fourth quarter of 2024 were $491 million, compared to sales of $730 million for the fourth quarter of 2023. Fourth quarter fixed annuity sales were down nearly 5% when compared to the previous quarter, and down nearly 33% when compared with the same period last year.
Total 4Q2024 fixed annuity sales were $491,439,763.
Total 20024 fixed annuity sales were $2,061,631,338.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE QUARTER:
- Global Atlantic Financial Group
- CNO Companies
- Modern Woodmen of America
- National Life Group
- EquiTrust
- Western-Southern Life Assurance Company
- OneAmerica
- CL LIfe
- American National
- Brighthouse Financial
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- CNO Companies
Direct Response- Corebridge Financial
Independent Agent- National Life Group
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 5.83% of premium for the fourth quarter of 2024; a trend that is up 0.31% when compared to last quarter.
Indexed Annuity
Sales for the fourth quarter of 2024 were $31,997 million, compared with sales of $26,168 million for the fourth quarter of 2023. Fourth quarter indexed annuity sales were down more than 13% when compared to the previous quarter, and up more than 22% when compared to the same period last year. This was a record-setting year for indexed annuity sales, topping the prior 2023 record by 33.72%.
Total 4Q2024 indexed annuity sales were $31,997,832,868.
Total 2024 indexed annuity sales were $130,096,421,371.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE QUARTER:
- Sammons Financial Companies
- Allianz Life
- Athene USA
- Corebridge Financial
- American Equity Companies
- Fidelity & Guaranty Life
- Global Atlantic Financial Group
- Security Benefit Life
- Nationwide
- EquiTrust
TOP SELLING PRODUCTS BY CHANNEL:
Overall- American Equity IncomeShield 10
Bank- American General Power Index 5 Plus Annuity
Registered Investment Advisor- MassMutual Ascend Index Protector 5 MVA
Full Service National Broker Dealer- Allianz Life Essential Income 7 Annuity
Independent Broker Dealer- Nationwide L&A Nationwide New Heights Select 9
Career- Bankers Life & Casualty Flexible Premium Bonus IA
Independent Agent- American Equity IncomeShield 10
Fee-Based Overall- Midland National Life Capital Income FIA
LEADERS BY CHANNEL:
Bank- Corebridge Financial
Registered Investment Advisor- Massachusetts Mutual Life Companies
Full Service National Broker Dealer- Global Atlantic Financial Group
Independent Broker Dealer- Sammons Financial Companies
Career- CNO Companies
Independent Agent- Sammons Financial Companies
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.61% of premium for the fourth quarter of 2024; a trend that is up 0.08% from the prior quarter.
Structured Annuity
Sales for the fourth quarter of 2024 were $17,243 million compared with sales of $12,489 million for the fourth quarter of 2023. Fourth quarter structured annuity sales were up more than 7% when compared to the previous quarter, and up more than 38% when compared to the same period last year. This was a record-setting quarter for structured annuity sales, topping the prior 3rd quarter 2023 record by 7.10%. This was also a record-setting year for structured annuity sales, topping the prior 2023 record by 39.66%.
Total 4Q2024 structured annuity sales were $17,243,886,440.
Total 20204 structured annuity sales were $62,956,658,543.
THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE QUARTER:
- Equitable Financial
- Prudential
- Allianz Life
- Brighthouse Financial
- Jackson National Life
- Lincoln National Life
- RiverSource life
- Transamerica
- Symetra Financial
- Athene USA
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
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
Independent Agent- Brighthouse Financial
Variable Annuity
Sales for the fourth quarter of 2024 were $17,806 million, compared with sales of $11,643 million for the fourth quarter of 2023. Fourth quarter variable annuity sales were up nearly 18% when compared to the previous quarter, and up nearly 53% when compared to the same period last year.
Total 4Q2024 variable annuity sales were $17,806,484,643.
Total 2024 variable annuity sales were $61,370,525,205.
THE TOP TEN VARIABLE CARRIERS FOR THE QUARTER:
- Jackson National Life
- Equitable Financial
- Lincoln National Life
- Nationwide
- New York Life
- Thrivent Financial
- Pacific Life Companies
- Transamerica
- Corebridge Financial
- Fidelity Investments
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- Thrivent Financial Retirement Choice VA
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- Lincoln National Life
Independent Broker Dealer- Jackson National Life
Career- Equitable Financial
Direct Response- Fidelity Investments
Immediate Income Annuity
Sales for the fourth quarter of 2024 were $2,643 million. Fourth quarter immediate income annuity sales were down nearly 15% when compared to the previous quarter. Given that this is the fourth quarter that Wink has collected data on immediate income annuity sales, additional comparisons will be available in future quarters.
Total 4Q2024 immediate income annuity sales were $2,643,573,475.
Total 2024 immediate income annuity sales were $11,144,198,896.
THE TOP TEN IMMEDIATE INCOME CARRIERS FOR THE QUARTER:
- New York Life
- Massachusetts Mutual Life Companies
- Nationwide
- Western-Southern Life Assurance Company
- Penn Mutual
- American National
- Pacific Life Companies
- Athene USA
- Global Atlantic Financial Group
- EquiTrust
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 fourth quarter of 2024 were $917 million. Fourth quarter deferred income annuity sales were down nearly 24% when compared to the previous quarter. Given that this is the fourth quarter that Wink has collected data on deferred income annuity sales, additional comparisons will be available in future quarters.
Total 4Q2024 deferred income annuity sales were $917,141,067.
Total 2024 deferred income annuity sales were $3,778,128,544.
THE TOP TEN DEFERRED INCOME CARRIERS FOR THE QUARTER:
- New York Life
- Western-Southern Life Assurance Company
- Massachusetts Mutual Life Companies
- Integrity Life Companies
- Global Atlantic Financial Group
- Brighthouse Financial
- Lincoln National Life
- Symetra Financial
- Thrivent Financial
- Mutual of Omaha
LEADERS BY CHANNEL:
Bank- New York Life
Registered Investment Advisor- Pacific Life Companies
Full Service National Broker Dealer- Western-Southern Life Assurance Company
Independent Broker Dealer- Brighthouse Financial
Career- New York Life
Direct Response- New York Life
Independent Agent- Integrity Life Companies
Wink anticipates compiling first quarter 2025’s sales with a release date of May 2025. -sjm
