YEAR-TO-DATE Indexed Annuity Sales Greater Than Any Full Year But 2013
January 1, 2015 by Wink, Inc.
Wink, Inc. Releases
Third-Quarter 2014
Indexed Sales
Results
Forty-seven indexed annuity carriers participated in the 69th edition of Wink’s Sales & Market Report, representing 99.8% of indexed annuity production. Total third-quarter sales were $11.4 billion. Third-quarter indexed annuity sales were down 8.58% when compared to the previous quarter, and up 14.28% when compared to the same period last year.
“Third-quarter year-to-date sales of indexed annuities are greater than they have been in any full year with the exception of 2013’s record-setting sales!” exclaimed Sheryl J. Moore, president and CEO of both Moore Market Intelligence and Wink, Inc. Moore added, “This market is easily on target to do more than $45 billion in sales for 2014.”
Noteworthy highlights for the quarter include Allianz Life maintaining its position as the number one carrier in indexed annuities, with a market share of 26.8%. American Equity Companies recaptured its prior ranking as the number two carrier in the market, while Security Benefit Life, Great American Insurance Group and Athene USA followed up in sales, respectively, rounding out the top five indexed annuity sellers. Allianz Life’s Allianz 222 Annuity was the top-selling indexed annuity for the quarter.
For indexed life sales, 47 insurance carriers participated in Wink’s Sales & Market Report, representing 95.2% of production. Third-quarter sales were $3.72.8 million. When evaluating third-quarter indexed life sales, results were up 4.46% when compared with the previous quarter, and up 18.73% when compared to the same period last year.
Ms. Moore commented, “Indexed life sales are likely to finish out the year stronger than any prior year with the exception of 2012’s record-setting sales! As the matter of indexed life illustrated rates gets ‘hammered-out,’ we’re going to continue seeing more companies entering this now-mainstream product line.”
Items of interest in the indexed life market this quarter include Pacific Life Companies maintaining its number one position in indexed life sales, with an 11.61% market share. Aegon held on as the second-highest ranking company in the market, while National Life Group, Minnesota Life, and Zurich American Life rounded out the top five indexed life companies, respectively. Western Reserve Life Assurance Company of Ohio’s WRL Financial Foundation was the best-selling indexed life insurance product for the third consecutive quarter. The average indexed universal life target premium reported for the quarter was $7,119, an increase of nearly 12% from the previous quarter.
The staff of Moore Market Intelligence has the combined experience of nearly three decades working with indexed insurance products. The firm provides services in speaking, research, training, product development and marketing of indexed annuities and indexed life insurance. Their knowledge in product filing research and policy forms analysis, coupled with their unmatched resources in insurance distribution, give them the expertise to provide competitive intelligence that allows carriers to stay ahead of their competition.
Sheryl J. Moore is president and CEO of this specialized third-party market research firm and the guiding force behind the industry’s most comprehensive indexed life and indexed annuity due-diligence tools, AnnuitySpecs and LifeSpecs distributed by Wink, Inc. Moore previously worked as a market research analyst for top carriers in the indexed life and annuity industries. Her views on the direction of the indexed market are frequently heard in seminars and quoted by industry trade journals.
Moore is the author of the quarterly Wink’s Sales & Market Report. Serving as the insurance industry’s number one resource of indexed insurance product sales since 1997, this report provides sales by product, company, crediting method, index, distribution, surrender charge period and more.
Wink, Inc. is the company that distributes resources such as this sales report, along with the competitive intelligence tools AnnuitySpecs and LifeSpecs at www.LookToWink.com.
