FIRST QUARTER 2018 ANNUITY SALES
May 24, 2018 by Sheryl J. Moore
Indexed Annuity
Sales for the first quarter of 2018 were $14.21 billion, compared with sales of $12.92 billion for the first quarter of 2017. First quarter indexed annuity sales were up more than 4% when compared to the previous quarter, and up more than 10% when compared with the same period last year.
Total 1Q2018 indexed annuity sales were $14,219,366,994.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2018:
1. Allianz Life
2. Athene USA
3. Nationwide
4. American Equity Companies
5. Great American Insurance Group
6. AIG
7. North American Company
8. Global Atlantic Financial Group
9. Midland National Life
10. Pacific Life Companies
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.26% of premium for the first quarter of 2018; an increase of 0.13% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Great American Insurance Group
Career- CNO 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- Great American AssuranceSelect 7
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- Nationwide Nationwide Summit
Fee-Based Overall- Allianz Life Retirement Foundation ADV Annuity
Fixed Annuity
Sales for the first quarter of 2018 were $7.29 million, compared with sales of $1.07 billion for the first quarter of 2017. First quarter fixed annuity sales were down more than 3% when compared to the previous quarter, and down more than 32% when compared with the same period last year.
Total 1Q2018 fixed annuity sales were $729,738,899.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2018:
- Jackson National Life
- Modern Woodmen of America
- Global Atlantic Financial Group
- Great American Insurance Group
- American National
- EquiTrust
- Brighthouse Financial
- Foresters
- Reliance Standard
- American Equity Companies
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 4.18% of premium for the first quarter of 2018; up 0.13% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Great American Insurance Group
Career- Modern Woodmen of America
Direct Response- Amica
Independent Agent- Jackson National Life
Independent Broker Dealer- Brighthouse Financial
National Broker Dealer- Global Atlantic Financial Group
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 first quarter of 2018 were $8.15billion, compared with sales of $9.04 billion for the first quarter of 2017. First quarter MYGA sales were up nearly 21% when compared to the previous quarter, and down nearly 10% when compared to the same period last year.
Total 1Q2018 MYGA sales were $8,156,945,328.
THE TOP TEN MYGA CARRIERS FOR THE FIRST QUARTER OF 2018:
1. New York Life
2. Global Atlantic Financial Group
3 AIG
4. Symetra Financial
5. Pacific Life Companies
6. Delaware Life
7. Protective Life Companies
8. Colorado Bankers Life Insurance Company
9. Reliance Standard
10. Fidelity & Guaranty Life
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.29% of premium for the first quarter of 2018; down 0.11% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Financial Group
Career- New York Life
Direct Response- New York Life
Independent Agent- Fidelity & Guaranty Life
Independent Broker Dealer- Global Atlantic Financial Group
National Broker Dealer- New York Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life SecureFore 3 Fixed Annuity
Bank- Forethought Life SecureFore 3 Fixed Annuity
Career- Thrivent Financial Security One
Direct Response- Bankers Life SPDA – 5
Independent Agent- Fidelity & Guaranty Life FG Guarantee-Platinum 5
Independent Broker Dealer- Forethought Life SecureFore 3 Fixed Annuity
National Broker Dealer- Forethought Life SecureFore 3 Fixed Annuity
Structured Annuity
Sales for the first quarter of 2018 were $2.95 billion. Given that this is the first quarter that Wink has collected data on sales of structured annuities, comparisons will be available in future quarters.
Total 1Q2018 structured annuity sales were $2,950,867,291.
THE TOP STRUCTURED ANNUITY CARRIER FOR THE FIRST QUARTER OF 2018:
AXA US
LEADERS BY CHANNEL:
Bank- Brighthouse Financial
Career- N/A
Independent Broker Dealer- Brighthouse Financial
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
National Broker Dealer- Brighthouse Life Shield Level Select 6-Year
Wink anticipates compiling second quarter, 2018’s sales with a release date of mid-August, 2018.