Wink, Inc. Releases 1st Quarter, 2019 Deferred Annuity Sales Results
May 31, 2019 by Press Releases
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NEWS RELEASE
MYGAS DOMINATE SALES GROWTH IN FIRST QUARTER
Wink, Inc. Releases 1st Quarter, 2019 Deferred Annuity Sales Results
Des Moines, Iowa. June 3, 2019– Wink’s Sales & Market Report, the insurance industry’s #1 resource for indexed annuity sales data since 1997, now reports on all deferred annuities. Fifty-nine indexed annuity providers, 55 fixed annuity providers, 78 Multi-Year Guaranteed Annuity (MYGA) providers, 10 structured annuity providers, and 43 variable annuity providers participated in the 87th edition of Wink’s Sales & Market Report for 1st Quarter, 2019.
Total first quarter sales for all deferred annuity sales were $55.5 billion.
Noteworthy highlights for all deferred annuity sales in the first quarter include AIG ranking as the #1 carrier overall for deferred annuity sales, with a market share of 7.2%. Jackson National Life followed in second place, while Lincoln National Life, New York Life and Allianz Life rounded-out the top five carriers in the market, respectively. Jackson National’s Perspective II Flexible Premium Variable & Fixed Deferred Annuity, a variable annuity, was the #1 selling deferred annuity, for all channels combined, in overall sales.
Total first quarter non-variable deferred annuity sales were $33.4 billion; up 2.6% when compared to the previous quarter and up 44.8% 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 first quarter include AIG ranking as the #1 carrier overall for non-variable deferred annuity sales, with a market share of 10.3%. New York Life moved into second place, while Global Atlantic Financial Group, Allianz Life and Athene USA 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.
Total first quarter variable deferred annuity sales were $22.0 billion. Given that this is the first quarter that Wink has collected data on sales of variable annuities, comparisons will be available in future quarters. Variable deferred annuities include the structured annuity and variable annuity product lines.
Noteworthy highlights for variable deferred annuity sales in the first quarter include Jackson National Life ranking as the #1 carrier overall for variable deferred annuity sales, with a market share of 15.6%. AXS US took second place as Lincoln National Life, Prudential and Brighthouse Financial rounded-out the top five carriers in the market, respectively. Jackson National’s Perspective II Flexible Premium Variable & Fixed Deferred Annuity, a variable annuity, was the #1 selling variable deferred annuity, for all channels combined, in overall sales.
Indexed annuity sales for the first quarter were $17.7 billion; down 7.7%% when compared to the previous quarter, and up 24.5% 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 was the strongest first quarter ever for indexed annuity sales” exclaimed Sheryl J. Moore, president and CEO of both Moore Market Intelligence and Wink, Inc. She continued, “It is unusual to see sales up this much year-over-year, but low fixed rates and market volatility have lent favorably to this product line.”
Noteworthy highlights for indexed annuities in the first quarter include Allianz Life retaining their #1 ranking in indexed annuities, with a market share of 11.9%. Athene USA held the second-ranked position while AIG, American Equity Companies, and Pacific Life 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 nineteenth consecutive quarter.
Traditional fixed annuity sales in the first quarter were $1.0 billion; down 8.2% when compared to the previous quarter, and up 48.9% 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 first quarter include Great American Insurance Group ranking as the #1 carrier in fixed annuities, with a market share of 14.6%. Modern Woodman of America ranked second while, Jackson National Life, Global Atlantic Financial Group and OneAmerica rounded-out the top five carriers in the market, respectively. Great American’s American Freedom Aspire 5 was the #1 selling fixed annuity for the quarter, for all channels combined.
Multi-year guaranteed annuity (MYGA) sales in the first quarter were $14.6 billion; up over 19.8% when compared to the previous quarter, and up 79.8 % when compared to the same period last year. MYGAs have a fixed rate that is guaranteed for more than one year. “Sales of MYGAs increased more over the past year than any other product line.,” exclaimed Moore.
Noteworthy highlights for MYGAs in the first quarter include New York Life ranking as the #1 carrier, with a market share of 16.9%. AIG moved into the second-ranked position, as Global Atlantic Financial Group, Massachusetts Mutual Life Companies, and Security Benefit Life rounded-out the top five carriers in the market, respectively. Forethought Life’s SecureFore 3 Fixed Annuity was the #1 selling multi-year guaranteed annuity for the quarter, for all channels combined.
Structured annuity sales in the first quarter were $3.5 billion; sales were flat as compared to the previous quarter and up 60.3% as compared to the previous year. Structured annuities have a limited negative floor and limited excess interest that is determined by the performance of an external index or subaccounts. Moore commented, “Structured annuity sales have consistently increased since their creation. When you talk about 60% increases in sales, people turn heads. This is definitely a product line that has plenty of opportunities for growth and innovation!”
Noteworthy highlights for structured annuities in the first quarter include AXA US ranking as the #1 carrier in structured annuities, with a market share of 31.2%. Brighthouse Life’s Shield Level Select 6-Year was the #1 selling structured annuity for the quarter, for all channels combined for the fifth consecutive quarter.
Variable annuity sales in the first quarter were $18.5 billion; given that this is the first quarter that Wink has collected data on sales of variable annuities, comparisons will be available in future quarters. Variable annuities have no floor, and potential for gains/losses that are determined by the performance of the subaccounts that may be invested in an external index, stocks, bonds, commodities, or other investments.
Noteworthy highlights for variable annuities in the first quarter include Jackson National Life ranking as the #1 carrier in variable annuities, with a market share of 18.6%. Prudential ranked second while, Lincoln National Life, AXA US, and Nationwide rounded-out the top five carriers in the market, respectively. Jackson National’s Perspective II Flexible Premium Variable & Fixed Deferred Annuity was the #1 selling variable annuity for the quarter, for all channels combined.
While Wink currently reports on indexed annuity, fixed annuity, multi-year guaranteed annuity, structured annuity, variable annuity, and multiple life insurance lines’ product sales. Sales reporting on additional product lines will follow at some point in the future.
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For more information, go to www.WinkIntel.com
Wink, Inc. is the company behind the most comprehensive life insurance and annuity due-diligence tools, AnnuitySpecs and LifeSpecs at www.WinkIntel.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 deferred annuity products in 2015, all deferred variable annuity products in 2019 and all non-variable cash value life insurance products in 2017.
The staff of Wink, Inc. has the combined experience of more than 175 years working with insurance products, more than a decade of which is specifically in competitive intelligence. 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.
June 3, 2019
Des Moines, IA
(855) ASK-WINK
