U.S. indexed annuity sales totaled $8.2 billion in the second quarter of 2011, up nearly 16% from the previous quarter but 1% lower than the same quarter in 2010, according to the latest edition of AnnuitySpecs.com’s Indexed Sales and Market Report.
The report was based on data from 39 indexed annuity carriers representing 98% of indexed annuity production. (Chart below courtesy of Annuityspecs.com.
“This was one of the top-five best-selling quarters for indexed annuity sales,” said Sheryl J. Moore, president and CEO of AnnuitySpecs.com. “The rates on indexed annuities are miserable right now, just as they are with every other type of fixed money instrument. However, the retirement income story that is told by the indexed annuity continues to be a compelling testimony to the power of guaranteed lifetime income.”
Allianz Life maintained market leadership with a 21% market share, followed by Aviva, American Equity, Great American (GAFRI) and North American. Allianz Life’s MasterDex X was the top-selling indexed annuity for the ninth consecutive quarter.