FOURTH QUARTER 2016 NON-VARIABLE DEFERRED ANNUITY SALES
March 29, 2017 by Victoria L. Peterson
Indexed Annuity
Wink’s Sales & Market Report, 4th Quarter 2016 shows sales for the fourth quarter of 2016 were $13,309 million, compared with sales of $15,573 million for the fourth quarter of 2015. Fourth quarter indexed annuity sales were down nearly 7% when compared to the previous quarter, and down over than 14% when compared with the same period last year. This was a record-setting year for indexed annuity sales, topping the previous 2015 record by 9.73%.
Total 4Q2016 indexed annuity sales were $13,309,361,354.
Total 2016 indexed annuity sales were $58,235,264,888.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2016:
1. Allianz Life
2. Athene USA
3. American Equity Companies
4. Great American Insurance Group
5. AIG
6. Midland National Life
7. Nationwide
8. Fidelity & Guaranty Life
9. North American Company
10. Voya Financial
AVERAGE COMMISSION:
The average agent commission was 5.37%; down 0.01% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Great American Insurance Group
Career- CNO Companies
Direct Response- Symetra
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 Assurance Select 7
Career- Variable Annuity Life Power Index Elite
Direct Response- Symetra Life Symetra Edge Plus 5
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker Dealer- Allianz Life Allianz 222 Annuity
National Broker Dealer- Forethought ForeIncome 7-Year
Fixed Annuity
Fixed annuity sales for the fourth quarter of 2016 were $1,068 million, compared with sales of $2,907 million for the fourth quarter of 2015. Fourth quarter fixed annuity sales were down more than 16% when compared to the previous quarter, and down over 63% when compared with the same period last year.
Total 4Q2016 fixed annuity sales were $1,068,251,061.
Total 2016 fixed annuity sales were $5,227,696,617.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2016:
1. Jackson National Life
2. MetLife
3. Great American Insurance Group
4. Reliance Standard
5. Global Atlantic Financial Group
6. American National
7. Western-Southern Life Assurance Company
8. AIG
9. EquiTrust
10. American Equity Companies
AVERAGE COMMISSION:
The average agent commission was 3.26%; down 0.14% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- Great American Insurance Group
Career- Farm Bureau Life
Direct Response- MetLife
Independent Agent- Jackson National Life
Independent Broker Dealer- MetLife
National Broker Dealer- MetLife
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- Great American American Freedom Aspire 7
Career- New York Life Flex Premium Fixed Annuity
Direct Response- N/A
Independent Agent- Jackson National Life MAX One XL
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
National Broker Dealer- Forethought Life ForeCare Fixed Annuity
Multi-Year Guaranteed Annuity
Multi-year guaranteed annuity (MYGA) sales for the fourth quarter of 2016 were $6,632 million, compared with sales of $5,892 million for the fourth quarter of 2015. Fourth quarter MYGA sales were down more than 8% when compared to the previous quarter, and up over 12% when compared to the same period last year.
Total 4Q2016 MYGA sales were $6,632,748,938.
Total 2016 MYGA sales were $33,486,109,547.
THE TOP TEN MYGA CARRIERS FOR THE FOURTH QUARTER OF 2016:
1. New York Life
2. AIG
3. Global Atlantic Financial Group
4. Security Benefit Life
5. Symetra Financial
6. Pacific Life Companies
7. Massachusetts Mutual Life
8. Delaware Life
9. Athene USA
10. The Standard
AVERAGE COMMISSION:
The average agent commission was 1.26%; up 0.22% as compared to last quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- New York Life
Direct Response- Symetra Financial
Independent Agent- Athene USA
Independent Broker Dealer- The Standard
National Broker Dealer- New York Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Security Benefit Life RateTrack 5-Year
Bank- Security Benefit Life RateTrack 5-Year
Career- Thrivent Financial Security One
Direct Response- Symetra Life Symetra Custom 5
Independent Agent- Athene Annuity Athene MYG 5
Independent Broker Dealer- The Standard Focused Growth Annuity 5
National Broker Dealer- Mass Mutual Life Stable Voyage 5-Year
-SJM
Sheryl is out on maternity leave until June, please direct any questions to support@winkintel.com.
We look forward to compiling first quarter, 2017’s sales next month with a report release date of mid-May, 2017. -VLP
