Total first quarter sales for 55 indexed annuity carriers was $15.0 billion, the highest first-quarter sales in the history of the product, according to the 75th edition of Wink’s Sales and Marketing Report.
Though down more than 3% when compared to the fourth quarter of 2015, indexed sales in the first quarter were up nearly 33% when compared with the same period last year.
“While there is typically a huge drop in sales from the fourth to the first quarter, sales of these principal-protection products are down less than five percent,” said Wink CEO Sheryl Moore in a release.
Allianz Life was the dominant carrier, with an 18.4% share of the indexed market. American Equity Companies were second, followed by Great American Insurance Group, AIG, Nationwide and Midland National Life. Allianz Life’s Allianz 222 Annuity was the top-selling indexed annuity for the fifth consecutive quarter.
© 2016 RIJ Publishing LLC. All rights reserved.
