AnnuitySpecs.com Releases 3rd Quarter, 2007 Index Sales Results
February 1, 2008 by Staff Writer
According to the Advantage Index Sales and Market Report, which represents 99 percent of index annuity production, total third quarter sales were $6.4 billion, down 1.7 percent from second quarter sales. Compared with the same period last year, sales are down 2 percent. Sales year-to-date were $18.7 billion, down 2.8 percent from the previous period.
Noteworthy highlights of the market report include the fact that Allianz and Aviva both share an 18 percent market share this quarter. American Equity’s Bonus Gold is now the No. 1-selling index annuity, marking the first time that an Allianz two-tiered annuity has not been the top-selling product, according to this survey. Furthermore, this is the first quarter that the Allianz MasterDex 10 has not been the No. 1-selling index annuity since the third quarter of 2004. Bank sales of index annuities have declined to 3.4 percent of total sales.
All 32 carriers in the index life market participated in the Advantage Index Sales and Market Report, representing 100 percent of production. Total third quarter sales were $129 million, an 11.4 percent increase over second quarter sales. This represents a 55.4 percent increase over the same period last year. Year-to-date sales of index life were $349.5 million, up 39.3 percent. Total sales for 2006 were $349.8 million.
According to the Advantage Index Sales and Market Report, which represents 99 percent of index annuity production, total third quarter sales were $6.4 billion, down 1.7 percent from second quarter sales. Compared with the same period last year, sales are down 2 percent. Sales year-to-date were $18.7 billion, down 2.8 percent from the previous period.
Noteworthy highlights of the market report include the fact that Allianz and Aviva both share an 18 percent market share this quarter. American Equity’s Bonus Gold is now the No. 1-selling index annuity, marking the first time that an Allianz two-tiered annuity has not been the top-selling product, according to this survey. Furthermore, this is the first quarter that the Allianz MasterDex 10 has not been the No. 1-selling index annuity since the third quarter of 2004. Bank sales of index annuities have declined to 3.4 percent of total sales.
All 32 carriers in the index life market participated in the Advantage Index Sales and Market Report, representing 100 percent of production. Total third quarter sales were $129 million, an 11.4 percent increase over second quarter sales. This represents a 55.4 percent increase over the same period last year. Year-to-date sales of index life were $349.5 million, up 39.3 percent. Total sales for 2006 were $349.8 million.
