THIRD QUARTER 2020 ANNUITY SALES
November 25, 2020 by Jamie Johnson
Deferred Annuity Sales
Total 3Q2020 deferred annuity sales were $54,217,243,301. Third quarter deferred annuity sales were up more than 18% when compared to the previous quarter, and were down more than 1% when compared to the same period last year.
Non-Variable Deferred Annuity Sales
Total 3Q2020 non-variable deferred annuity sales were $30,932,756,676. Third quarter deferred annuity sales were up nearly 20% when compared to the previous quarter, and up more than 7% when compared to the same period last year.
Variable Deferred Annuity Sales
Total 3Q2020 variable deferred annuity sales were $23,284,486,625. Third quarter variable annuity sales were up nearly 16% when compared to the previous quarter, and down more than 10% when compared to the same period last year.
Indexed Annuity
Sales for the third quarter of 2020 were $13,798 million, compared with sales of $18,678 million for the third quarter of 2019. Third quarter indexed annuity sales were up nearly 8% when compared to the previous quarter, and down more than 26% when compared to the same period last year.
Total 3Q2020 indexed annuity sales were $13,798,262,982.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE THIRD QUARTER OF 2020:
- Athene USA
- Allianz Life
- Sammons Financial Companies
- AIG
- Fidelity and Guaranty Life
- Global Atlantic Financial Group
- Security Benefit Life
- Equitable Life & Casualty
- Great American Insurance Group
- Nationwide
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.33% of premium for the third quarter of 2020; a trend that is down slightly from the prior quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- CNO Companies
Direct Response- N/A
Independent Agent- Athene USA
Independent Broker Dealer- Sammons Financial Companies
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- American General Power Index Advisory IA
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker Dealer- Protective Life Protective Income Builder
National Broker Dealer- Amercian General Power Index 5 Plus Annuity
Registered Investment Advisor- Great American American Legend 7
Fixed Annuity
Sales for the third quarter of 2020 were $488 million, compared to sales of $726 million for the third quarter of 2019. Third quarter fixed annuity sales were up nearly 15% when compared to the previous quarter, and down nearly 33% when compared with the same period last year.
Total 3Q2020 fixed annuity sales were $488,571,666.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE Third QUARTER OF 2020:
- Modern Woodmen of America
- Global Atlantic Financial Group
- EquiTrust
- Jackson National Life
- National Life Group
- American National
- OneAmerica
- Brighthouse Financial
- AIG
- Great American Insurance Group
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 5.21% of premium for the third quarter of 2020; down slightly when compared to last quarter.
LEADERS BY CHANNEL:
Bank- OneAmerica
Career- Modern Woodmen of America
Direct Response- AIG
Independent Agent- EquiTrust Independent Broker Dealer- Global Atlantic Financial Group
National Broker Dealer- Global Atlantic Financial Group
Registered Investment Advisor- N/A
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- Forethought Life ForeCare Fixed Annuity
Career- Kansas City Life Growth Track
Direct Response- N/A
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 third quarter of 2020 were $16,645 million, compared with sales of $9,805 million for the third quarter of 2019. Third quarter MYGA sales were up nearly 33% when compared to the previous quarter, and up nearly 70% when compared to the same period last year.
Total 3Q2020 MYGA sales were $16,645,922,028.
THE TOP TEN MYGA CARRIERS FOR THE THIRD QUARTER OF 2020:
- Sammons Financial Companies
- Massachusetts Mutual Life Companies
- New York Life
- Global Atlantic Financial Group
- AIG
- Athene USA
- Brighthouse Financial
- Oceanview Life and Annuity Company
- Security Benefit Life
- Symetra Financial
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 1.81% of premium for the third quarter of 2020; an increase from last quarter.
LEADERS BY CHANNEL:
Bank- Sammons Financial Companies
Career- New York Life
Direct Response- Nassau Re
Independent Agent- Oceanview Life and Annuity Company
Independent Broker Dealer- Sammons Financial Companies
National Broker Dealer- Massachusetts Mutual Life Companies
Registered Investment Advisor- N/A
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Massachusetts Mutual Life Stable Voyage 3-Year
Bank- Athene Annuity Athene MYG 5
Career- Prudential Prudential Fixed Annuity
Direct Response- Nassau Life and Annuity Simple Annuity
Independent Agent- Oceanview Life Harbourview 3-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 third quarter of 2020 were $6,252 million, compared with sales of $4,794 million for the third quarter of 2019. Third quarter structured annuity sales were up more than 38% when compared to the previous quarter, and up more than 30% when compared to the same period last year.
Total 3Q2020 structured annuity sales were $6,252,309,458.
THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE THIRD QUARTER OF 2020:
- Lincoln National Life
- Allianz Life
- Equitable Financial
- Brighthouse Financial
- Prudential
- RiverSource Life
- CUNA Mutual Life
- Athene USA
- Symetra Financial
- Great American Insurance Group
LEADERS BY CHANNEL:
Bank- Lincoln National Life
Career- RiverSource Life
Direct Response- N/A
Independent Broker Dealer- Lincoln National Life
National Broker Dealer- Lincoln National 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- RiverSource Life Structured Solutions 6-Year
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
Variable Annuity
Sales for the third quarter of 2020 were $17,032 million, compared with sales of $21,201 million for the third quarter of 2019. Third quarter variable annuity sales were up more than 9% when compared to the previous quarter, and down nearly 20% when compared to the same period last year.
Total 3Q2020 variable annuity sales were $17,032,177,167.
THE TOP TEN Variable CARRIERS FOR THE THIRD QUARTER OF 2020:
- Jackson National Life
- Equitable Financial
- Nationwide
- New York Life
- Lincoln National Life
- Pacific Life Companines
- RiverSource Life
- AIG
- Transamerica
- Thrivent Financial
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 fourth quarter, 2020’s sales with a release date of March 2021.
