THIRD QUARTER 2018 ANNUITY SALES
November 21, 2018 by Sheryl J. Moore
Indexed Annuity
Sales for the third quarter of 2018 were $17,718 million, compared with sales of $12,798 million for the third quarter of 2017. Third quarter indexed annuity sales were up more than 2% when compared to the previous quarter, and up more than 38% when compared to the same period last year. This was another record-setting quarter for indexed annuity sales, topping the prior 2Q2018 record by more than 2%.
Total 3Q2018 indexed annuity sales were $17,718,690,057.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE THIRD QUARTER OF 2018:
1. Allianz Life
2. Athene USA
3. AIG
4. Nationwide
5. Great American Insurance Group
6. American Equity Companies
7. Pacific Life Companies
8. Lincoln National Life
9. Global Atlantic Financial Group
10. Fidelity & Guaranty Life
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.21% of premium for the third quarter of 2018; a trend that is unchanged from the prior quarter.
LEADERS BY CHANNEL:
Bank- Great American Insurance Group
Career- Massachusetts Mutual Life Companies
Direct Response- N/A
Independent Agent- Athene USA
Independent Broker Dealer- Allianz Life
National Broker Dealer– Global Atlantic Financial Group
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Allianz Life Allianz 222 Annuity
Bank- Pacific Life Pacific Index Edge 7-Year with MVA
Career- C.M. Life Index Horizons
Direct Response- N/A
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker Dealer- Allianz Life Allianz 222 Annuity
National Broker Dealer– Forethought Life ForeAccumulation 5-Year
Fee-Based Overall- Pacific Life Pacific Index Advisory 5-Year
Fixed Annuity
Sales for the third quarter of 2018 were $1,021 million, compared to sales of $793 million for the third quarter of 2017. Third quarter fixed annuity sales were up nearly 17% when compared to the previous quarter, and up nearly 29% when compared with the same period last year.
Total 3Q2018 fixed annuity sales were $1,021,529,284.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE ThIRD QUARTER OF 2018:
1. AIG
2. Jackson National Life
3. Modern Woodmen of America
4. Global Atlantic Financial Group
5. Great American Insurance Group
6. Reliance Standard
7. American National
8. EquiTrust
9. Foresters
10. Brighthouse Financial
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 4.33% of premium for the third quarter of 2018; down 0.07% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- Modern Woodmen of America
Direct Response- Amica
Independent Agent- Jackson National Life
Independent Broker Dealer- Jackson National Life
National Broker Dealer- AIG
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- Forethought Life ForeCare Fixed Annuity
Career- Kansas City Life Growth Track
Direct Response- Amica Single Premium Deferred Annuity
Independent Agent- EquiTrust ChoiceFour
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
National Broker Dealer- Forethought Life ForeCare Fixed Annuity
Multi-Year Guaranteed Annuity
Sales for the third quarter of 2018 were $10,887 million, compared with sales of $6,664 million for the third quarter of 2017. Third quarter MYGA sales were up more than 8% when compared to the previous quarter, and up more than 63% when compared to the same period last year.
Total 3Q2018 MYGA sales were $10,887,325,511.
THE TOP TEN MYGA CARRIERS FOR THE THIRD QUARTER OF 2018:
1. New York Life
2. Global Atlantic Financial Group
3. AIG
4. Colorado Bankers Life Insurance Company
5. Massachusetts Mutual Life Companies
6. Symetra Financial
7. Athene USA
8. Protective Life Companies
9. Pacific Life Companies
10. Fidelity & Guaranty Life
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.22% of premium for the third quarter of 2018; a slight decline from last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Financial Group
Career- New York Life
Direct Response- Royal Neighbors
Independent Agent- Colorado Bankers Life Insurance Company
Independent Broker Dealer- Global Atlantic Financial Group
National Broker Dealer- New York Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life SecureFore 5 Fixed Annuity
Bank- Forethought Life SecureFore 5 Fixed Annuity
Career- Thrivent Financial Security One
Direct Response- Royal Neighbors Choice 5
Independent Agent- Colorado Bankers Life CBLA-5
Independent Broker Dealer- Forethought Life SecureFore 5 Fixed Annuity
National Broker Dealer- Massachusetts Mutual Life Stable Voyage 3-Year
Structured Annuity
Sales for the third quarter of 2018 were $3,464 million. Third quarter structured annuity sales were up more than 39% when compared to the previous quarter. Given that this is the third quarter that Wink has collected data on sales of structured annuities, additional comparisons will be available in future quarters.
Total 3Q2018 structured annuity sales were $3,464,904,288
THE TOP STRUCTURED ANNUITY CARRIER FOR THE THIRD QUARTER OF 2018:
AXA US
LEADERS BY CHANNEL:
Bank- Brighthouse Financial
Career- AXA US
Independent Broker Dealer- AXA US
National Broker Dealer– Brighthouse Financial
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Brighthouse Life Shield Level Select 6-Year
Bank- Brighthouse Life Shield Level Select 6-Year
Career- N/A
Independent Broker Dealer- Brighthouse Life Shield Level Select 6-Year
NationalBroker Dealer- Brighthouse Life Shield Level Select 6-Year
Wink will be compiling fourth quarter 2018’s sales with an anticipated release date of mid-March, 2019. -sjm