Third Quarter 2024 Annuity Sales
November 26, 2024 by Sheryl J. Moore
All Annuity Sales
Total 3Q2024 all annuity sales $115,272 million. Third quarter annuity sales were up nearly 7% when compared to the previous quarter. Given that this is the third quarter that Wink has collected data on income annuity sales, additional comparisons will be available in future quarters.
Deferred Annuity Sales
Total 3Q2024 deferred annuity sales were $110,967 million, compared with sales of $79,231 million for the third quarter of 2023. Third quarter deferred annuity sales were up more than 6% when compared to the previous quarter and up more than 40% when compared to the same period last year.
Non-Variable Deferred Annuity Sales
Total 3Q2024 non-variable deferred annuity sales were $79,763 million, compared with sales of $54,799 million for the third quarter of 2023. Third quarter non-variable deferred annuity sales were up more than 8% when compared to the previous quarter, and up nearly 46% when compared to the same period last year. Non-variable deferred annuities include sales of multi-year guaranteed, fixed, and indexed deferred annuities.
Variable Deferred Annuity Sales
Total 3Q2024 variable deferred annuity sales $31,204 million, compared with sales of $24,432 million for the third quarter of 2023. Third quarter variable deferred annuity sales were up less than 1% when compared to the previous quarter, and up nearly 28% when compared to the same period last year. Variable deferred annuities include sales of structured and variable deferred annuities.
Income Annuity Sales
Total 3Q2024 income annuity sales were $4,304 million. Third quarter income annuity sales were up more than 27% when compared to the previous quarter. Given that this is the third quarter that Wink has collected data on income annuity sales, additional comparisons will be available in future quarters. Income annuities include sales of immediate income and deferred income annuities.
Multi-Year Guaranteed Annuity
Sales for the third quarter of 2024 were $42,403 million, compared with sales of $30,957 million for the third quarter of 2023. Third quarter MYGA sales were up more than 3% when compared to the previous quarter, and up nearly 37% when compared to the same period last year.
Total 3Q2024 MYGA sales were $42,403,841,124.
THE TOP TEN MYGA CARRIERS FOR THE QUARTER:
- Massachusetts Mutual Life Companies
- Athene USA
- Corebridge Financial
- New York Life
- Global Atlantic Financial Group
- American National
- Fidelity & Guaranty Life
- Protective Life Companies
- Delaware Life
- Reliance Standard
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Massachusetts Mutual Life Stable Voyage 3-Year
Bank- Athene Annuity Athene MYG 5 with MVA
Registered Investment Advisor- American Life Fee-Based Fixed Deferred Annuity 5-Year
Full Service National Broker Dealer- Massachusetts Mutual Life Stable Voyage 3-Year
Independent Broker Dealer- Pruco Life Prudential FA with Daily Advantage Income Benefit
Career- Thrivent Financial MYG 9-Year
Direct Response- Puritan Life Canvas 7-Year
Independent Agent- American National Life Palladium MYG 5
Fee-Based Overall- American Life Fee-Based Fixed Deferred Annuity 5-Year
LEADERS BY CHANNEL:
Bank- Athene USA
Registered Investment Advisor- American Life
Full Service National Broker Dealer- Massachusetts Mutual Life Companies
Independent Broker Dealer- Prudential
Career- New York Life
Direct Response- Puritan Life
Independent Agent- American National
AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.58% of premium for the third quarter of 2024; an increase of 0.19% from last quarter.
Fixed Annuity
Sales for the third quarter of 2024 were $516 million, compared to sales of $495 million for the third quarter of 2023. Third quarter fixed annuity sales were up more than 2% when compared to the previous quarter, and up more than 4% when compared with the same period last year.
Total 3Q2024 fixed annuity sales were $516,796,420.
THE TOP TEN FIXED ANNUITY CARRIERS FOR THE QUARTER:
- Global Atlantic Financial Group
- CNO Companies
- Modern Woodmen of America
- CL Life
- EquiTrust
- National Life Group
- Western-Southern Life Assurance Company
- OneAmerica
- American National
- Corebridge Financial
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- Forethought Life ForeCare Fixed Annuity
Full Service National Broker Dealer- Forethought Life ForeCare Fixed Annuity
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
Career- United of Omaha Bonus Flexible Annuity
Independent Agent- CL Life CL Tarrant Trail
LEADERS BY CHANNEL:
Bank- OneAmerica
National Broker Dealer- Global Atlantic Financial Group
Independent Broker Dealer- Global Atlantic Financial Group
Career- CNO Companies
Direct Response- Corebridge Financial
Independent Agent- CL Life
AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 5.52% of premium for the third quarter of 2024; a trend that is down 0.14% when compared to last quarter.
Indexed Annuity
Sales for the third quarter of 2024 were $36,842 million, compared with sales of $23,345 million for the third quarter of 2023. Third quarter indexed annuity sales were up nearly 15% when compared to the previous quarter, and up nearly 58% when compared to the same period last year. This was a record-setting quarter for indexed annuity sales, topping the prior 2nd quarter 2024 record by 14.61%.
Total 3Q2024 indexed annuity sales were $36,842,573,671.
THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE QUARTER:
- Allianz Life
- Sammons Financial Companies
- Athene USA
- Corebridge Financial
- Global Atlantic Financial Group
- American Equity Companies
- Fidelity & Guaranty Life
- Kuvare Companies
- Nationwide
- Massachusetts Mutual Life Companies
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Allianz Life Allianz Benefit Control Annuity
Bank- American General Power Index 5 Plus Annuity
Registered Investment Advisor- Midland National Life Capital Income FIA
Full Service National Broker Dealer- Allianz Life Essential Income 7 Annuity
Independent Broker Dealer- Athene Annuity Athene Ascent Pro 10
Career- Bankers L&C Flexible Premium Bonus IA
Independent Agent- Guaranty Income Life WealthChoice FIA 10-Year
Fee-Based Overall- Midland National Life Capital Income FIA
LEADERS BY CHANNEL:
Bank- Corebridge Financial
Registered Investment Advisor- Sammons Financial Companies
Full Service National Broker Dealer- Allianz Life
Independent Broker Dealer- Allianz Life
Career- CNO Companies
Independent Agent- Allianz Life
AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 6.53% of premium for the third quarter of 2024; a trend that is down 0.12% from the prior quarter.
Structured Annuity
Sales for the third quarter of 2024 were $16,100 million compared with sales of $12,092 million for the third quarter of 2023. Third quarter structured annuity sales were up nearly 3% when compared to the previous quarter, and up more than 33% when compared to the same period last year. This was a record-setting quarter for structured annuity sales, topping the prior 2nd quarter 2024 record by 2.81%.
Total 3Q2024 structured annuity sales were $16,100,431,348.
THE TOP TEN STRUCTURED ANNUITY CARRIERS FOR THE QUARTER:
- Equitable Financial
- Allianz Life
- Prudential
- Brighthouse Financial
- Jackson National Life
- Lincoln National Life
- RiverSource life
- Transamerica
- Symetra Financial
- Nationwide
TOP SELLING PRODUCTS BY CHANNEL:
Overall- Equitable Structured Capital Strategies Plus 21
Bank- Equitable Structured Capital Strategies Plus 21
Registered Investment Advisor- Lincoln National Life Lincoln Level Advantage Advisory
Full Service National Broker Dealer- Transamerica Life Structured Index Advantage Annuity
Independent Broker Dealer- Jackson National Jackson Market Link Pro II
Career- Equitable Structured Capital Strategies Plus 21
Direct Response- Brighthouse Life Brighthouse Shield Level Select 3-Year
Fee-Based Overall- Equitable Structured Capital Strategies Plus 21 Series ADV
LEADERS BY CHANNEL:
Bank- Equitable Financial
Registered Investment Advisor- Lincoln National Life
Full Service National Broker Dealer- Allianz Life
Independent Broker Dealer- Allianz Life
Career- Equitable Financial
Direct Response- Brighthouse Financial
Independent Agent- Brighthouse Financial
Variable Annuity
Sales for the third quarter of 2024 were $15,103 million, compared with sales of $12,340 million for the third quarter of 2023. Third quarter variable annuity sales were down more than 1% when compared to the previous quarter, and up more than 22% when compared to the same period last year.
Total 3Q2024 variable annuity sales were $15,103,794,422.
THE TOP TEN VARIABLE CARRIERS FOR THE QUARTER:
- Jackson National Life
- Equitable Financial
- Nationwide
- New York Life
- Lincoln National Life
- Pacific Life Companies
- Fidelity Investments
- Corebridge Financial
- Transamerica
- Thrivent Financial
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
Registered Investment Advisor- Jefferson National Life Monument Advisor
Full Service National Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Independent Broker Dealer- 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
LEADERS BY CHANNEL:
Bank- Jackson National Life
Registered Investment Advisor- Nationwide
Full Service National Broker Dealer- Jackson National Life
Independent Broker Dealer- Jackson National Life
Career- Equitable Financial
Direct Response- Fidelity Investments
Immediate Income Annuity
Sales for the third quarter of 2024 were $3,104 million. Third quarter immediate income annuity sales were up nearly 22% when compared to the previous quarter. Given that this is the third quarter that Wink has collected data on immediate income annuity sales, additional comparisons will be available in future quarters.
Total 3Q2024 immediate income annuity sales were $3,104,502,311.
THE TOP TEN IMMEDIATE INCOME CARRIERS FOR THE QUARTER:
- New York Life
- Massachusetts Mutual Life Companies
- Nationwide
- Western-Southern Life Assurance Company
- Penn Mutual
- Pacific Life Companies
- American National
- Integrity Life Companies
- RiverSource Life
- Symetra Financial
LEADERS BY CHANNEL:
Bank- New York Life
Registered Investment Advisor- Pacific Life Companies
Full Service Broker Dealer- New York Life
Independent Broker Dealer- Nationwide
Career- New York Life
Direct Response- Brighthouse Financial
Independent Agent- Nationwide
Deferred Income Annuity
Sales for the third quarter of 2024 were $1,200 million. Third quarter deferred income annuity sales were up nearly 45% when compared to the previous quarter. Given that this is the third quarter that Wink has collected data on deferred income annuity sales, additional comparisons will be available in future quarters.
Total 3Q2024 deferred annuity sales were $1,200,388,019.
THE TOP TEN DEFERRED INCOME CARRIERS FOR THE QUARTER:
- New York Life
- Massachusetts Mutual Life Companies
- Western-Southern Life Assurance Company
- Integrity Life Companies
- Corebridge Financial
- Symetra Financial
- Brighthouse Financial
- Global Atlantic Financial Group
- Thrivent Financial
- Pacific Life Companies
LEADERS BY CHANNEL:
Bank- New York Life
Registered Investment Advisor- Pacific Life Companies
Full Service National Broker Dealer- New York Life
Independent Broker Dealer- Brighthouse Financial
Career- New York Life
Independent Agent- Integrity Life Companies
Wink anticipates compiling fourth quarter, 2024’s sales with a release date of March 2025.
-SJM
