Indexed annuities had record-breaking sales for the third quarter at $10 billion. Indeed, production was up more than 9% when compared to the previous quarter, and up more than 15% when compared with the same period last year, according to Wink’s 65th Sales & Market Report.
Allianz Life prevailed as the leading issuer of indexed annuities with a 12.91% market share, while Security Benefit Life and American Equity maintained their positions as the second and third-ranked companies in the market. Great American and Aviva rounded out the top five, respectively.
Wink’s report consisted of 42 indexed annuity carriers, representing 98.4% of indexed annuity production.
Indexed life sales came in at $328 million for the third quarter with 48 insurance carriers participating in the ranking, representing 95.1% of production.
Pacific Life maintained its leadership in indexed life sales, with a 13.51% market share. Aegon came in second place in the market, while AXA Equitable, National Life Group, and Minnesota Life rounded-out the top five companies, respectively.
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