THIRD QUARTER 2022 ANNUITY SALES
November 22, 2022 by Sheryl J. Moore
Deferred Annuity Sales
Total 3Q2022 deferred annuity sales were $72,438 million, compared with sales of $59,889 million for the third quarter of 2021. Third quarter deferred annuity sales were down less than 1% when compared to the previous quarter and up nearly 21% 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 3Q2022 non-variable deferred annuity sales were $48,845 million, compared with sales of $29,217 million for the third quarter of 2021. Third quarter non-variable deferred annuity sales were up nearly 6% when compared to the previous quarter, and up more than 67% 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 3Q2022 variable deferred annuity sales were $23,592 million, compared with sales of $30,672 million for the third quarter of 2021. Third quarter variable deferred annuity sales were down nearly 11% when compared to the previous quarter, and down more than 23% when compared to the same period last year. Variable deferred annuities include sales of structured and variable deferred annuities.
Indexed Annuity
Sales for the third quarter of 2022 were $20,977 million, compared with sales of $17,341 million for the third quarter of 2021. Third quarter indexed annuity sales were up nearly 7% when compared to the previous quarter, and up nearly 21% when compared to the same period last year.
Total 3Q2022 indexed annuity sales were $20,977,096,085
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE THIRD QUARTER OF 2022:
1. Athene USA
2. Allianz Life
3. Corebridge Financial
4. Sammons Financial Companies
5. Global Atlantic Financial Group
6. Massachusetts Mutual Life Companies
7. Fidelity & Guaranty Life
8. Lincoln National Life
9. Nationwide
10. Security Benefit Life
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.35% of premium for the third quarter of 2022; a trend that is up 0.01% from the prior quarter.
LEADERS BY CHANNEL:
Bank- Corebridge Financial
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- 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- Lincoln National Life Lincoln Covered Choice Advisory 5
Independent Agent- Allianz Life Allianz Benefit Control Annuity
Independent Broker Dealer- Allianz Life Allianz Benefit Control Annuity
National Broker Dealer- Forethought Life ForeAccumulation II FIA 5-Year
Registered Investment Advisor- MassMutual Ascend Index Protector 5 MVA
Fixed Annuity
Sales for the third quarter of 2022 were $451 million, compared to sales of $360 million for the third quarter of 2021. Third quarter fixed annuity sales were down nearly 7% when compared to the previous quarter, and up more than 25% when compared with the same period last year.
Total 3Q2022 fixed annuity sales were $451,600,686.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE THIRD QUARTER OF 2022:
1. Global Atlantic Financial Group
2. EquiTrust
3. Modern Woodman of America
4. Western-Southern Life Assurance Company
5. American National
6. CNO Companies
7. National Life Group
8. Brighthouse Financial
9. Jackson National Life
10. Corebridge Financial
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 5.73% of premium for the third quarter of 2022; a trend that is up 0.06% when compared to last quarter.
LEADERS BY CHANNEL:
Bank- Global Atlantic Financial Group
Career- Modern Woodmen of America
Direct Response- Corebridge Financial
Independent Agent- EquiTrust
Independent Broker Dealer- Brighthouse Financial
National Broker Dealer- Western-Southern Life Assurance Company
Registered Investment Advisor- N/A
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- Forethought Life ForeCare Fixed Annuity
Career- United of Omaha Bonus Flexible Annuity
Direct Response- N/A
Fee-Based Overall- N/A
Independent Agent- EquiTrust ChoiceFour with Liquidity Rider
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
National Broker Dealer- Western-Southern Life Senior Select 1-Year
Registered Investment Advisor- N/A
Multi-Year Guaranteed Annuity
Sales for the third quarter of 2022 were $27,417 million, compared with sales of $11,515 million for the third quarter of 2021. Third quarter MYGA sales were up nearly 5% when compared to the previous quarter, and up more than 138% when compared to the same period last year.
Total 3Q2022 MYGA sales were $27,417,121,639.
THE TOP TEN MYGA CARRIERS FOR THE THIRD QUARTER OF 2022:
1. Athene USA
2. New York Life
3. Massachusetts Mutual Life Companies
4. Brighthouse Financial
5. Corebridge Financial
6. Pacific Life Companies
7. Sammons Financial Companies
8. Global Atlantic Financial Group
9. Fidelity & Guaranty Life
10. Reliance Standard
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.19% of premium for the third quarter of 2022; an increase of 0.47% from last quarter.
LEADERS BY CHANNEL:
Bank- Athene USA
Career- New York Life
Direct Response- Puritan Life
Independent Agent- Oceanview Life
Independent Broker Dealer- Sammons Financial Companies
National Broker Dealer- Massachusetts Mutual Life Companies
Registered Investment Advisor- Sammons Financial Companies
TOP-SELLING PRODUCTS BY CHANNEL:
Overall- Massachusetts Mutual Life Stable Voyage 3-Year
Bank- Athene Annuity Athene MYG 5
Career- Thrivent Financial Security One
Direct Response- Puritan Life Canvas 3-Year
Fee-Based Overall- Midland National Life Oak ADVantage 5-Year
Independent Agent- Oceanview Life Harbourview 3-Year
Independent Broker Dealer- Midland National Life LiveWell Guarantee Max 3-Year
National Broker Dealer- Massachusetts Mutual Life Stable Voyage 3-Year
Registered Investment Advisor- Midland National Life Oak ADVantage 5-Year
Structured Annuity
Sales for the third quarter of 2022 were $10,199 million compared with sales of $9,117 million for the third quarter of 2021. Third quarter structured sales were down more than 3% when compared to the previous quarter, and up nearly 12% when compared to the same period last year.
Total 3Q2022 structured annuity sales were $10,199,467,626.
THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE THIRD QUARTER OF 2022:
1. Equitable Financial
2. Allianz Life
3. Brighthouse Financial
4. Lincoln Financial Life
5. Prudential
6. RiverSource Life
7. Jackson National Life
8. Nationwide
9. CUNA Mutual Life
10. Massachusetts Mutual Life Companies
LEADERS BY CHANNEL:
Bank- Equitable Financial
Career- Equitable Financial
Direct Response- N/A
Independent Broker Dealer- Brighthouse Financial
National Broker Dealer- Allianz Life
Registered Investment Advisor- Lincoln National Life
TOP-SELLING PRODUCTS BY CHANNEL:
Overall- Equitable Financial Structured Capital Strategies Plus 21
Bank- Equitable Financial Structured Capital Strategies Plus 21
Career- Equitable Financial Structured Capital Strategies Plus 21
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 third quarter of 2022 were $13,392 million, compared with sales of $21,554 million for the third quarter of 2021. Third quarter variable annuity sales were down nearly 16% when compared to the previous quarter, and down nearly 38% when compared to the same period last year.
Total 3Q2022 variable annuity sales were $13,392,925,307.
THE TOP TEN VARIABLE CARRIERS FOR THE THIRD QUARTER OF 2022:
1. Jackson National Life
2. Equitable Financial
3. New York Life
4. Nationwide
5. Lincoln National Life
6. Corebridge Financial
7. Pacific Life Companies
8. Thrivent Financial
9. Fidelity Investments
10. Brighthouse 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- 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 fourth quarter, 2022’s sales with a release date of March 2023. -sjm
