SECOND QUARTER 2020 ANNUITY SALES
August 26, 2020 by Sheryl J. Moore
Deferred Annuity Sales
Total 2Q2020 deferred annuity sales were $45,910,530,107. Second quarter deferred annuity sales were down nearly 13% when compared to the previous quarter.
Non-Variable Deferred Annuity Sales
Total 2Q2020 non-variable deferred annuity sales were $25,782,614,323. Second quarter non-variable deferred annuity sales were down nearly 5% when compared to the previous quarter, and down over 22% when compared to the same period last year.
Variable Deferred Annuity Sales
Total 2Q2020 variable deferred annuity sales were $20,127,915,784. Second quarter variable annuity sales were down more than 21% when compared to the previous quarter, and down nearly 20% when compared to the same period last year.
Indexed Annuity
Sales for the second quarter of 2020 were $12,832 million, compared with sales of $19,698 million for the second quarter of 2019. Second quarter indexed annuity sales were down nearly 22% when compared to the previous quarter, and down nearly 35% when compared to the same period last year.
Total 2Q2020 indexed annuity sales were $12,832,565,171.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE SECOND QUARTER OF 2020:
1. Athene USA
2. Allianz Life
3. Fidelity & Guaranty Life
4. AIG
5. Sammons Financial Companies
6. Security Benefit Life
7. Global Atlantic Financial Group
8. American Equity Companies
9. Equitable Life & Casualty
10. Great American Insurance Group
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.37% of premium for the second quarter of 2020; a trend that is up from the prior quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- CNO Companies
Direct Response- AIG
Independent Agent- Athene USA
Independent Broker Dealer- Allianz Life
National Broker Dealer- Global Atlantic Financial Group
Registered Investment Advisor- Great American Insurance Group
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Allianz Life Allianz 222 Annuity
Bank- American General Power Index 5 Plus Annuity
Career- C.M. Life Index Horizons
Direct Response- N/A
Fee-Based Overall- Great American Index Protector 7
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker Dealer- Allianz Life Allianz 222 Annuity
National Broker Dealer- Forethought Life ForeIncome II FIA 7-Year
Registered Investment Advisor- Great American Index Protector 7
Fixed Annuity
Sales for the second quarter of 2020 were $425 million, compared to sales of $873 million for the second quarter of 2019. Second quarter fixed annuity sales were down more than 38% when compared to the previous quarter, and down more than 51% when compared with the same period last year.
Total 2Q2020 fixed annuity sales were $425,785,580.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE SECOND QUARTER OF 2020:
1. Modern Woodmen of America
2. EquiTrust
3. Global Atlantic Financial Group
4. Jackson National Life
5. Brighthouse Financial
6. OneAmerica
7. Great American Insurance Group
8. American National
9. AIG
10. National Life Group
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 5.50% of premium for the second quarter of 2020; a trend that was up when compared to last quarter.
LEADERS BY CHANNEL:
Bank- OneAmerica
Career- Modern Woodmen of America
Direct Response- American National
Independent Agent- EquiTrust
Independent Broker Dealer- Brighthouse Financial
National Broker Dealer- Global Atlantic Financial Group
Registered Investment Advisor- N/A
TOP SELLING PRODUCTS BY CHANNEL:
Overall- EquiTrust ChoiceFour with Liquidity Rider
Bank- State Life Annuity Care II
Career- Kansas City Life Growth Track
Direct Response- American National of New York WealthQuest Citadel 5 Diamond
Independent Agent- EquiTrust ChoiceFour with Liquidity Rider
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
National Broker Dealer- Forethought Life ForeCare Fixed Annuity
Registered Investment Advisor- N/A
Multi-Year Guaranteed Annuity
Sales for the second quarter of 2020 were $12,524 million, compared with sales of $12,571 million for the second quarter of 2019. Second quarter MYGA sales were up nearly 26% when compared to the previous quarter, and down less than 1% when compared to the same period last year.
Total 2Q2020 MYGA sales were $12,524,263,572.
THE TOP TEN MYGA CARRIERS FOR THE SECOND QUARTER OF 2020:
1. Massachusetts Mutual Life Companies
2. New York Life
3. Sammons Financial Group
4. Global Atlantic Financial Group
5. Symetra Financial
6. Pacific Life Companies
7. Security Benefit Life
8. AIG
9. Athene USA
10. Delware Life
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 1.69% of premium for the second quarter of 2020; a decline from last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Finanical Group
Career- New York Life
Direct Response- N/A
Independent Agent- Sammons Financial Companies
Independent Broker Dealer- Sammons Financial Companies
National Broker Dealer- Massachusetts Mutual Life Companies
Registered Investment Advisor- Securian Financial
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Massachusetts Mutual Life Stable Voyage 3-Year
Bank- Forethought Life SecureFore 3 Fixed Annuity
Career- Massachusetts Mutual Life Stable Voyage 3-Year
Direct Response- N/A
Independent Agent- North American Guarantee Choice 7-Year
Independent Broker Dealer- Midland National Life LiveWell Guarantee Annuity 3-Year
National Broker Dealer- Massachusetts Mutual Life Stable Voyage 3-Year
Registered Investment Advisor- N/A
Structured Annuity
Sales for the second quarter of 2020 were $4,526 million compared with sales of $4,138 million for the second quarter of 2019. Second quarter structured annuity sales were down more than 7% when compared to the previous quarter, and up more than 9% when compared to the same period last year.
Total 2Q2020 structured annuity sales were $4,526,363,016.
THE TOP STRUCTURED ANNUITY CARRIER FOR THE SECOND QUARTER OF 2020:
Lincoln National Life
LEADERS BY CHANNEL:
Bank- Equitable Financial
Career- Equitable Financial
Direct Response- N/A
Independent Broker Dealer- Lincoln National Life
National Broker Dealer- Allianz Life
Registered Investment Advisor- Lincoln National Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Lincoln National Life Level Advantage B Share
Bank- Brighthouse Life Shield Level Select 6-Year
Career- Equitable Financial Structured Capital Strategies Plus
Direct Response- N/A
Independent Broker Dealer- Lincoln National Life Level Advantage B Share
National Broker Dealer- Lincoln National Life Level Advantage B Share
Registered Investment Advisor- Lincoln National Life Level Advantage Advisory Share
Variable Annuity
Sales for the second quarter of 2020 were $15,601 million, compared with sales of $20,990 million for the second quarter of 2019. Second quarter variable annuity sales were down nearly 25% when compared to the previous quarter, and down nearly 26% when compared to the same period last year.
Total 2Q2020 variable annuity sales were $15,601,552,768.
THE TOP TEN VARIABLE CARRIERS FOR THE SECOND QUARTER OF 2020:
1. Jackson National Life
2. Equitable Financial
3. Lincoln National Life
4. Prudential
5. New York Life
6. Nationwide
7. Pacific Life Companies
8. Transamerica
9. AIG
10. RiverSource Life
LEADERS BY CHANNEL:
Bank- Jackson National Life
Career- Equitable Financial
Direct Response- Fidelity Investments
Independent Broker Dealer- Jackson National Life
National Broker Dealer- Jackson National Life
Registered Investment Advisor- Transamerica
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Bank- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Career- Equitable Financial Equi-Vest
Direct Response- Fidelity Fidelity Personal Retirement Annuity
Fee-Based Overall- Fidelity Fidelity Personal Retirement Annuity
Independent Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
National Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Registered Investment Advisor- Pacific Life Pacific Odyssey VA
Wink anticipates compiling third quarter, 2020’s sales with a release date of November 2020.
