FIRST QUARTER 2022 ANNUITY SALES
May 31, 2022 by Sheryl J. Moore
Deferred Annuity Sales
Total 1Q2022 deferred annuity sales were $59,716 million, compared with sales of $58,395 million for the first quarter of 2021. First quarter deferred annuity sales were down nearly 2% when compared to the previous quarter and up more than 2% when compared to the same period last year. Deferred annuities include sales of fixed, indexed, multi-year guaranteed, structured and variable deferred annuities.
Non-Variable Deferred Annuity Sales
Total 1Q2022 non-variable deferred annuity sales were $31,730 million, compared with sales of $28,321 million for the first quarter of 2021. First quarter non-variable deferred annuity sales were up nearly 11% when compared to the previous quarter, and up more than 12% when compared to the same period last year. Non-variable deferred annuities include sales of fixed, indexed, and multi-year guaranteed deferred annuities.
Variable Deferred Annuity Sales
Total 1Q2022 variable deferred annuity sales were $27,985 million, compared with sales of $30,073 million for the first quarter of 2021. First quarter variable deferred annuity sales were down more than 13% when compared to the previous quarter, and down nearly 7% when compared to the same period last year. Variable deferred annuities include sales of structured and variable deferred annuities.
Indexed Annuity
Sales for the first quarter of 2022 were $16,669 million, compared with sales of $14,557 million for the first quarter of 2021. First quarter indexed annuity sales were down nearly 2% when compared to the previous quarter, and up nearly 15% when compared to the same period last year.
Total 1Q2022 indexed annuity sales were $16,669,487,629.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2022:
- Athene USA
- Allianz Life
- AIG
- Sammons Financial Companies
- Fidelity & Guaranty Life
- Massachusetts Mutual Life Companies
- American Equity Companies
- Global Atlantic Financial Group
- SILAC Insurance Company
- Nationwide
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.35% of premium for the first quarter of 2022; a trend that is down 0.03% from the prior quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- CNO Companies
Direct Response- N/A
Independent Agent- Athene USA
Independent Broker Dealer- Allianz Life
National Broker Dealer- AIG
Registered Investment Advisor- Massachusetts Mutual Life Companies
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- Great American Index Protector 5 MVA
Independent Agent- Allianz Life Allianz Benefit Control Annuity
Independent Broker Dealer- Allianz Life Allianz Benefit Control Annuity
National Broker Dealer- American General Power Index 5 Plus Annuity
Registered Investment Advisor- Great American Index Protector 5 MVA
Fixed Annuity
Sales for the first quarter of 2022 were $463 million, compared to sales of $477 million for the first quarter of 2021. First quarter fixed annuity sales were down nearly 5% when compared to the previous quarter, and down nearly 3% when compared with the same period last year.
Total 1Q2022 fixed annuity sales were $463,532,214.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2022:
- Modern Woodmen of America
- Global Atlantic Financial Group
- Jackson National Life
- American National
- EquiTrust
- Brighthouse Financial
- Massachusetts Mutual Life Companies
- OneAmerica
- AIG
- National Life Group
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 5.75% of premium for the first quarter of 2022; a trend that is down 0.16% when compared to last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Financial Group
Career- Modern Woodmen of America
Direct Response- AIG
Independent Agent- Global Atlantic Financial Group
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 Forethought Life ForeCare Fixed Annuity
Career- Farm Bureau Life Select IV Portfolio 6
Direct Response- N/A
Fee-Based Overall- N/A
Independent Agent- Forethought Life ForeCare Fixed Annuity
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
National Broker Dealer- Forethought Life ForeCare Fixed Annuity
Multi-Year Guaranteed Annuity
Sales for the first quarter of 2022 were $14,597 million, compared with sales of $13,286 million for the first quarter of 2021. First quarter MYGA sales were up more than 30% when compared to the previous quarter, and up nearly 10% when compared to the same period last year.
Total 1Q2022 MYGA sales were $14,597,390,064.
THE TOP TEN MYGA CARRIERS FOR THE First QUARTER OF 2022:
- New York Life
- Massachusetts Mutual Life Companies
- AIG
- Western-Southern Life Assurance Group
- Global Atlantic Financial Group
- Symetra Financial
- Oceanview Life and Annuity Group
- Fidelity & Guaranty Life
- Athene USA
- Prosperity Life Insurance Group
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 1.79% of premium for the first quarter of 2022; an increase of 0.15% from last quarter.
LEADERS BY CHANNEL:
Bank- AIG
Career- New York Life
Direct Response- Puritan Life
Independent Agent- Sagicor Life
Independent Broker Dealer- Global Atlantic Financial Group
National Broker Dealer- New York Life
Registered Investment Advisor- Massachusetts Mutual Life Companies
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Western-Southern Life SmartSelect 3-Year
Bank- Forethought Life SecureFore 3 Fixed Annuity
Career- Massachusetts Mutual Life Stable Voyage 5-Year
Direct Response- Puritan Life Canvas 3-Year
Fee-Based Overall- Great American Advantage 5 Advisory
Independent Agent- Sagicor Life Milestone MYGA 5-Year
Independent Broker Dealer- Forethought Life SecureFore 3 Fixed Annuity
National Broker Dealer- Western-Southern Life SmartSelect 3-Year
Registered Investment Advisor- Great American Advantage 5 Advisory
Structured Annuity
Sales for the first quarter of 2022 were $9,470 million compared with sales of $9,052 million for the first quarter of 2021. First quarter structured sales were down more than 6% when compared to the previous quarter, and up nearly 5% when compared to the same period last year.
Total 1Q2022 structured annuity sales were $9,470,575,878.
THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE FIRST QUARTER OF 2022:
- Equitable Financial
- Allianz Life
- Prudential
- Brighthouse Financial
- Lincoln National Life
- RiverSource Life
- CUNA Mutual Life
- Massachusetts Mutual Life Companies
- Athene USA
- Jackson National Life
LEADERS BY CHANNEL:
Bank- Equitable Financial
Career- RiverSource Life
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
Variable Annuity
Sales for the first quarter of 2022 were $18,515 million, compared with sales of $21,021 million for the first quarter of 2021. First quarter variable annuity sales were down more than 16% when compared to the previous quarter, and down nearly 12% when compared to the same period last year.
Total 1Q2022 variable annuity sales were $18,515,356,378.
THE TOP TEN Variable CARRIERS FOR FIRST QUARTER OF 2022:
- Jackson National Life
- Equitable Financial
- Lincoln National Life
- Nationwide
- New York Life
- Pacific Life Companies
- AIG
- Thrivent Financial
- Brighthouse Financial
- Fidelity Investments
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- Nationwide
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- Jefferson National Life Monument Advisor
Wink anticipates compiling second quarter, 2022’s sales with a release date of August 2022
