Wink, Inc. Releases 2nd Quarter, 2018 Deferred Non-Variable and Structured Annuity Sales Results
August 17, 2018 by Press Release
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NEWS RELEASE
INDEXED ANNUITY SALES CRUSH ALL RECORDS!
Wink, Inc. Releases 2nd Quarter, 2018 Deferred Non-Variable and Structured Annuity Sales Results
Des Moines, Iowa. August 17, 2018– Wink’s Sales & Market Report, the insurance industry’s #1 resource for indexed annuity sales data since 1997, is in its third year of reporting on all deferred non-variable annuities which include indexed annuity, traditional fixed annuity, and multi-year guaranteed annuity (MYGA) product lines. This is the first year for Wink to report on structured annuities, (a.k.a. indexed-variable annuities, collared annuities, or buffered annuities).
Sixty-two indexed annuity providers, 55 fixed annuity providers, 63 MYGA providers, and nine structured annuity companies participated in the 84th edition of Wink’s Sales & Market Report for 2nd Quarter, 2018. Total second quarter non-variable deferred annuity sales were $28.2 billion; up more than 22.4% when compared to the previous quarter and up more than 20.0% when compared to the same period last year. Non-variable deferred annuities include the indexed annuity, traditional fixed annuity, and MYGA product lines.
Noteworthy highlights for non-variable deferred annuity sales in the second quarter include Allianz Life ranking as the #1 carrier overall for non-variable deferred annuity sales, with a market share of 7.8%. AIG took the second-place position, while Athene USA, Global Atlantic Financial Group, and New York Life rounded-out the top five carriers in the market, respectively. Allianz Life’s Allianz 222 Annuity, an indexed annuity, was the #1 selling non-variable deferred annuity, for all channels combined, in overall sales.
Indexed annuity sales for the second quarter were $17.3 billion; up nearly 22.0% when compared to the previous quarter, and up more than 18.4% when compared with the same period last year. Indexed annuities have a floor of no less than zero percent and limited excess interest that is determined by the performance of an external index, such as Standard and Poor’s 500®.
“This is a record-setting quarter for indexed annuities!” proclaimed Sheryl J. Moore, president and CEO of both Moore Market Intelligence and Wink, Inc. She continued, “I’d say that indexed annuities are back in business with an increase that tops the prior record by more than 11%!”
Noteworthy highlights for indexed annuities in the second quarter include Allianz Life retaining their #1 ranking in indexed annuities, with a market share of 12.7%. Athene USA held the second-ranked position, and Nationwide, Great American Insurance Group, and American Equity Companies rounded-out the top five carriers in the market, respectively. Allianz Life’s Allianz 222 Annuity was the #1 selling indexed annuity, for all channels combined, for the sixteenth consecutive quarter.
Traditional fixed annuity sales in the second quarter were $875.0 million; up 19.9% when compared to the previous quarter, and down 12.5% when compared with the same period last year. Traditional fixed annuities have a fixed rate that is guaranteed for one year only.
Noteworthy highlights for traditional fixed annuities in the second quarter include Jackson National Life ranking as the #1 carrier in fixed annuities, with a market share of 11.9%. Modern Woodmen of America continued in the second-ranked position and Global Atlantic Financial Group, AIG, and Great American Insurance Group rounded-out the top five carriers in the market, respectively. Forethought Life’s ForeCare Fixed Annuity was the #1 selling fixed annuity for the quarter, for all channels combined.
Multi-year guaranteed annuity (MYGA) sales in the second quarter were $10.0 billion; up 23.4% when compared to the previous quarter, and up 27.2 % when compared to the same period last year. MYGAs have a fixed rate that is guaranteed for more than one year.
Noteworthy highlights for MYGAs in the second quarter include New York Life ranked as the #1 carrier, with a market share of 18.1%. Global Atlantic Financial Group kept the second-ranked position, while AIG, Protective Life Companies, and Delaware Life rounded-out the top five carriers in the market, respectively. Forethought’s SecureFore 5 Fixed Annuity was the #1 selling multi-year guaranteed annuity for the quarter, for all channels combined.
Structured annuity sales in the second quarter were $2.4 billion; up 12.6% as compared to the previous quarter. Structured annuities have a limited negative floor and limited excess interest that is determined by the performance of an external index or subaccounts.
“We are seeing so much innovation in the product development of structured annuities! Each month, as we see more manufacturers enter the market, we are having to make additional modifications to the AnnuitySpecs tool to accommodate the products- it’s exciting!,” exclaimed Moore.
Noteworthy highlights for structured annuities in the second quarter include AXA US ranking as the #1 carrier in structured annuities, with a market share of 40.2%. Brighthouse Life Shield Level Select 6-Year was the #1 selling structured annuity for the quarter, for all channels combined.
While Wink currently reports on indexed annuity, fixed annuity, multi-year guaranteed annuity, structured annuity, and multiple life insurance lines’ product sales, the firm looks forward to reporting on immediate annuity and variable annuity product sales in the future.
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For more information, contact the Wink team at http://www.LookToWink.com/.
Wink, Inc. is the company behind the most comprehensive life insurance and annuity due-diligence tools, AnnuitySpecs and LifeSpecs at www.LookToWink.com. Wink, Inc. is the distributor of the quarterly Wink’s Sales & Market Report. Serving as the insurance industry’s #1 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’s Sales & Market Report expanded to cover all fixed deferred annuity products in 2015 and all non-variable cash value life insurance products in 2017.
The staff of Wink, Inc. has the combined experience of more than a century working with insurance products. Based in Des Moines, Iowa, the firm offers competitive intelligence and market research in the life insurance and annuity industries; serving financial services professionals, distributors, manufacturers, regulators, and consultants on both a domestic and global basis.
Sheryl J. Moore is president and CEO is the guiding force behind Wink, Inc. Ms. Moore previously worked as a market research analyst for top carriers in the life insurance and annuity industries. Her views on the direction of the market are frequently heard in seminars and quoted by industry trade journals.
August 17, 2018
Des Moines, IA
(855) ASK-WINK
