Nonvariable deferred annuity sales declined in the fourth quarter of 2016, according to the latest Wink’s Sales & Market Report. In the fourth quarter of 2016, total non-variable deferred annuity sales — which include indexed annuity, traditional fixed annuity and multi-year guaranteed annuity (MYGA) sales — were $21 billion, down nearly 8 percent from the prior quarter and down nearly 14 percent from the same period a year ago.

The Wink report includes sales figures from 55 indexed annuity providers, 48 fixed annuity providers, and 55 MYGA companies. Greater Des Moines is home to several leading annuity companies, among them American Equity Investment Life Holding Co., Athene USA, Fidelity & Guaranty Life and Global Atlantic Financial Group.

Indexed annuity sales totaled $13.3 billion in the fourth quarter, down 7.5 percent from the third quarter and down 17 percent from the year-ago period. But total 2016 sales reached $58 billion, a nearly 10 percent increase from 2015’s total sales.

Total fourth-quarter traditional fixed annuity sales were just over $1 billion, down more than 16 percent when compared with the previous quarter, and down over 63 percent when compared with the same period last year.

MYGA fourth-quarter sales were $6.6 billion; down more than 8 percent when compared with the previous quarter and up over 12 percent from the year-ago period.

Overall, non-variable deferred annuity sales for full-year 2016 were $96.9 billion.

“It is impressive to see non-variable deferred annuity sales come close to $100 billion for the year,” said Sheryl Moore, president and CEO of Pleasant Hill-based Wink Inc. “It will be interesting to see how the DOL’s (fiduciary) rule impacts sales for 2017.”

The Department of Labor rule, scheduled to become effective April 10 but which could be delayed for 60 days, makes a fiduciary of any adviser receiving compensation for an investment recommendation in retirement accounts.  – The Business Record Staff