Annuity 1Q Climbers: Athene, Nationwide, Great American, Pac Life
May 30, 2018 by Cyril Tuohy
Athene USA and Nationwide appear to be fierce competitors in the fixed indexed annuity market. But behind the scenes they share a common thread to their recent success: the Arizona-based annuity marketer Annexus, which works through other independent marketing organizations.
Athene and Nationwide take their indexed annuity market share battles seriously, said annuity market analyst Sheryl J. Moore, CEO of Wink Inc., publisher of Wink’s Sales & Market Report. “Both those companies have proprietary products through a common marketing group, Annexus, and it’s a big way they have been able to capture additional market share over the past few years,” she said, calling Annexus master marketers.
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Two Companies ‘Killing it’
Two other indexed annuity companies warrant special mention in the first quarter: Great American and Pacific Life. Great American, with a 6.9 percent share, was the No. 5 seller of indexed annuities this quarter, and Pacific Life, with a 3.2 percent share, was the No. 10 seller.
Both companies, however, delivered among the largest market share increases from the fourth quarter of last year. Great American entered the indexed annuity market in 2016 with IndexProtector 7 by selling through independent agents and independent broker-dealers. But the company has lately “really just been killing it,” as it broadens sales into the bank channel and deepens its relationships among broker-dealers, Moore said.
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