Second Quarter 2014 Indexed Insurance Sales
August 20, 2014 by Sheryl J. Moore
Indexed Annuity
Wink’s Sales & Market Report, 2nd Quarter 2014 shows second quarter 2014 indexed annuity sales were $12,566 million, compared with sales of $9,203 million for the second quarter of 2013. Second quarter indexed annuity sales were up more than 15% when compared to the previous quarter, and up nearly 37% when compared with the same period last year. This was a record-setting quarter for indexed annuity sales, topping the prior 4Q2013 record by 8.85%!
Total 2Q2014 indexed annuity sales were $12,566,405,318.
The top ten indexed annuity carriers for the second quarter of 2014:
1. Allianz Life
2. Security Benefit Life
3. American Equity Companies
4. Great American Insurance Group
5. Athene USA
6. Midland National Life
7. ING
8. EquiTrust
9. Fidelity & Guaranty Life
10. Symetra Financial
Average Commission:
The average agent commission was 5.96%; up slightly from last quarter’s average. This is the second consecutive increase in the average commission paid to the sales agent, after two years of declines.
Leaders by Channel:
Agency- Allianz Life
Bank- Great American Insurance Group
Wirehouse- ING
Career- CNO Companies
Indexed Life
Indexed life sales for the second quarter of 2014 were $366 million, compared with sales of $320 million for the second quarter of 2013. Second quarter indexed life sales were up more than 11% when compared with the previous quarter, and up more than 14% as compared to the same period last year.
Total 2Q2014 indexed life sales were $366,680,437.
The top ten indexed life carriers for the second quarter of 2014:
1. Pacific Life Companies
2. Aegon
3. National Life Group (NL/LSW)
4. Midland National Life
5. Minnesota Life
6. Allianz Life
7. Zurich American Life (est)
8. AXA US
9. Nationwide Financial
10. Lincoln National Life
Average Target Premium:
The average target premium paid was $6,367, a drop of nearly 30% from the prior quarter.
Leaders by Channel:
Agency- Pacific Life Companies
Bank- Pacific Life Companies
Wirehouse- Aegon
Career- AXA US
~sjm
