Allianz Life ranked as the top issuer of non-variable deferred annuity sales, with a market share of 7.8%, followed by AIG, Athene USA, Global Atlantic Financial Group, and New York Life, according to the latest edition of Wink’s Sales and Market Report for the second quarter of 2018.
Allianz Life’s Allianz 222 Annuity, an indexed annuity, was the top-selling non-variable deferred annuity, for all channels combined, in overall sales. It was the top-selling indexed annuity, for all channels combined, for the sixteenth consecutive quarter.
Indexed annuity sales for the second quarter were $17.3 billion; up nearly 22.0% when compared to the previous quarter, and up more than 18.4% when compared with the same period last year. Indexed annuities have a floor of no less than zero percent and limited excess interest that is determined by the performance of an external index, such as Standard and Poor’s 500.
Allianz Life was the top issuer of indexed annuities, with a market share of 12.7%, followed by Athene USA, Nationwide, Great American Insurance Group, and American Equity Companies. Allianz Life’s Allianz 222 Annuity.
Traditional fixed annuity sales in the second quarter were $875.0 million; up 19.9% from the previous quarter, and down 12.5% from the same period last year. Traditional fixed annuities have a fixed rate that is guaranteed for one year only.
Jackson National Life ranked as the top issuer of traditional fixed annuities, with a market share of 11.9%, followed by Modern Woodmen of America, Global Atlantic Financial Group, AIG, and Great American Insurance Group. Forethought Life’s ForeCare Fixed Annuity was the top-selling fixed annuity for the quarter, for all channels combined.
Multi-year guaranteed annuity (MYGA) sales in the second quarter were $10.0 billion; up 23.4% when compared to the previous quarter, and up 27.2 % when compared to the same period last year. MYGAs have a fixed rate that is guaranteed for more than one year.
New York Life ranked as the top issuer of MYGA contracts, with a market share of 18.1%, followed by Global Atlantic Financial Group, AIG, Protective Life, and Delaware Life. Forethought’s SecureFore 5 Fixed Annuity was the top-selling multi-year guaranteed annuity for the quarter, for all channels combined.
Structured annuity sales in the second quarter were $2.4 billion; up 12.6% from the previous quarter. AXA US ranked as the top issuer of structured annuities, with a market share of 40.2%. Brighthouse Life Shield Level Select 6-Year was the top-selling structured annuity contract for the quarter, for all channels combined.
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