Fourth Quarter 2020 Annuity Sales
May 11, 2021 by Sheryl J. Moore
Deferred Annuity Sales
Total 4Q2020 deferred annuity sales were $56,314,918,093. Fourth quarter deferred annuity sales were up nearly 4% when compared to the previous quarter and were up nearly 6% when compared to the same period last year. Sales for 2020 were down nearly 6% when compared to the prior year.
Total 2020 deferred annuity sales were $209,147,263,328.
Non-Variable Deferred Annuity Sales
Sales for the fourth quarter of 2020 were $28,779,932,149. Fourth quarter non-variable deferred annuity sales were down nearly 7% when compared to the previous quarter, and up over 7% when compared to the same period last year. Non-variable deferred annuity sales were down nearly 8% from the prior year.
Total 2020 non-variable deferred annuity sales were $112,580,986,491.
Variable Deferred Annuity Sales
Total 4Q2020 variable deferred annuity sales were $27,534,985,944. Fourth quarter variable deferred annuity sales were up more than 18% when compared to the previous quarter, and up nearly 5% when compared to the same period last year. Variable deferred annuity sales were down more than 2% when compared to the prior year.
Total 2020 variable deferred annuity sales were $96,566,276,837.
Indexed Annuity
Sales for the fourth quarter of 2020 were $15,085 million, compared with sales of $17,163 million for the fourth quarter of 2019. Fourth quarter indexed annuity sales were up more than 9% when compared to the previous quarter, and down more than 12% when compared to the same period last year. Indexed annuity sales were down nearly 21% when compared to the prior year.
Total 4Q2020 indexed annuity sales were $15,085,236,011.
Total 2020 indexed annuity sales were $58,141,895,225.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2020:
- Athene USA
- AIG
- Sammons Financial Companies
- Allianz Life
- Fidelity & Guaranty Life
- Global Atlantic Finaincal Group
- SILAC Insurance Company
- Security Benefit Life
- Nationwide
- American Equity Companies
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 5.58% of premium for the fourth quarter of 2020; a trend that is down nearly 1% 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- AIG
Registered Investment Advisor- Great American Insurance Group
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Allianz Life Allianz Benefit Control 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 Benefit Control Annuity
Independent Broker Dealer- Protective Life Protective Income Builder
National Broker Dealer- American General Power Index 5 Plus Annuity
Registered Investment Advisor- Great American Index Protector 5 MVA
Fixed Annuity
Sales for the fourth quarter of 2020 were $474 million, compared to sales of $691 million for the fourth quarter of 2019. Fourth quarter fixed annuity sales were down nearly 3% when compared to the previous quarter, and down over 31% when compared with the same period last year. Fixed annuity sales were down nearly 36% when compared to the prior year.
Total 4Q2020 fixed annuity sales were $474,138,980.
Total 2020 fixed annuity sales were $2,079,878,323.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2020:
- Modern Woodmen of America
- Global Atlantic Financial Group
- Jackson National Life
- EquiTrust
- OneAmerica
- American National
- Brighthouse Financial
- National Life Group
- Kansas City Life
- Great American Insurance Group
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 4.49% of premium for the fourth 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- Brighthouse Financial
National Broker Dealer- Global Atlantic Financial Group
Registered Investment Advisor- N/A
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- State Life Annuity Care II
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 fourth quarter of 2020 were $13,220 million, compared with sales of $9,135 million for the fourth quarter of 2019. Fourth quarter MYGA sales were down nearly 21% when compared to the previous quarter, and up nearly 45% when compared to the same period last year. Multi-year guaranteed annuity sales were up nearly 13% when compared to the prior year.
Total 4Q2020 MYGA sales were $13,220,557,159.
Total 2020 MYGA sales were $52,359,212,942.
THE TOP TEN MYGA CARRIERS FOR THE Fourth QUARTER OF 2020:
- New York Life
- American Equity Companies
- Brighthouse Financial
- Western-Southern Life Assurance Company
- AIG
- Sammons Financial Companies
- Global Atlantic Financial Group
- Symetra Financial
- Athene USA
- Great American Insurance Group
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.20% of premium for the fourth quarter of 2020; an increase from last quarter.
LEADERS BY CHANNEL:
Bank-New York Life
Career- New York Life
Direct Response- Nassau Re
Independent Agent- American Equity Companies
Independent Broker Dealer- American Equity Companies
National Broker Dealer- New York Life
Registered Investment Advisor- N/A
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Western-Southern Life SmartSelect 3-Year
Bank- Brighthouse Life Fixed Rate Annuity 3-Year
Career- Prudential Annuities Prudential Fixed Annuity with Daily Advantage Income Benefit
Direct Response- Nassau Life and Annuity Simple Annuity 4-Year
Fee-Based Overall- Security Benefit Life Advanced Choice Annuity 4-Year
Independent Agent- American Equity GuaranteeShield 3
Independent Broker Dealer- Eagle Life Eagle Guarantee Focus 3
National Broker Dealer- Western-Southern Life SmartSelect 3-Year
Registered Investment Advisor- N/A
Structured Annuity
Sales for the fourth quarter of 2020 were $8,415 million compared with sales of $4,926 million for the fourth quarter of 2019. Fourth quarter structured annuity sales were up nearly 35% when compared to the previous quarter, and up nearly 71% when compared to the same period last year. This was a record-setting quarter for structured annuity sales, topping the prior 3Q2020 record by nearly 35%. This was also a record-setting year for structured annuity sales, topping the previous 2020 record by more than 38%.
Total 4Q2020 structured annuity sales were $8,415,020,480.
Total 2020 structured annuity sales were $24,067,591,265.
THE TOP STRUCTURED ANNUITY CARRIER FOR THE FOURTH QUARTER OF 2020:
- Allianz Life
- Equitable Financial
- Lincoln National Life
- Brighthouse Financial
- Prudential
- RiverSource Life
- CUNA Mutual Life
- Athene USA
- Symetra Financial
- Great American Insurance Group
LEADERS BY CHANNEL:
Bank- Equitable Financial
Career- Equitable Finanical
Direct Response- N/A
Independent Broker Dealer- Allianz Life
National Broker Dealer- Allianz Life
Registered Investment Advisor- Lincoln National Life
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Pruco Life Prudential FlexGuard Indexed VA
Bank- Equitable Financial Structured Capital Strategies Plus
Career- RiverSource Life Structured Solutions 6-Year
Direct Response- N/A
Fee-Based Overall- Lincoln National Life Lincoln Level Advantage Advisory
Independent Broker Dealer- Lincoln National Life Lincoln Level Advantage B Share
National Broker Dealer- Allianz Life Allianz Index Advantage
Registered Investment Advisor- Lincoln National Life Lincoln Level Advantage Advisory
Variable Annuity
Sales for the fourth quarter of 2020 were $19,119 million, compared with sales of $21,416 million for the fourth quarter of 2019. Fourth quarter variable annuity sales were up more than 12% when compared to the previous quarter, and down nearly 11% when compared to the same period last year. Variable annuity sales were down more than 11% when compared to the prior year.
Total 4Q2020 variable annuity sales were $19,119,965,464.
Total 2020 variable annuity sales were $72,498,685,573.
THE TOP TEN Variable CARRIERS FOR THE Fourth QUARTER OF 2020:
- Jackson National Life
- Nationwide
- Equitable Financial
- New York Life
- Lincoln National Life
- AIG
- Pacific Life Companies
- RiverSource Life
- Thrivent Financial
- Transamerica
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 first quarter, 2021’s sales with a release date of June 2021.
