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Index Annuity Sales By Quarter
2017 1Q17 2Q17 3Q17  
2016 1Q16 2Q16 3Q16 4Q16  
2015 1Q15 2Q15 3Q15 4Q15  
2014 1Q14 2Q14 3Q14 4Q14  
2013 1Q13 2Q13 3Q13 4Q13  
2012 1Q12 2Q12 3Q12 4Q12  
2011 1Q11 2Q11 3Q11 4Q11  
2010 1Q10 2Q10  3Q10  4Q10   
2009 1Q09 2Q09  3Q09  4Q09   
2008  1Q08  2Q08  3Q08  4Q08   
2007 1Q07  2Q07  3Q07  4Q07 
2006 1Q06 2Q06 3Q06 4Q06
2005 1Q05 2Q05 3Q05 4Q05
2004 1Q04 2Q04 3Q04 4Q04
2003 1Q03 2Q03 3Q03 4Q03
2002 1Q02 2Q02 3Q02 4Q02
2001 1Q01 2Q01 3Q01 4Q01
2000 1Q00 2Q00 3Q00 4Q00
1999 1Q99 2Q99 3Q99 4Q99
1998 3Q98 4Q98



3rd Quarter 2017 Index Annuity Sales  
Third quarter 2017 fixed index annuity sales were $12,902 million* compared with sales of $14,359 million for the previous quarter – a 10.2% decrease – and down 11.3% when compared with third quarter 2016 sales.  . All data is from the Beacon Research Fixed Annuity Premium Study.      

Allianz Life $1,914,977,700   AIG Companies  730,349,500
Nationwide 1,242,000,000   Global Atlantic 573,022,500
Athene USA 1,225,244,000   Midland National Life 484,580,600
American Equity 871,761,600   F&G Life 423,425,700
Great American 746,042,300   North American

417,047,000

Top Selling 3rd Quarter Index Annuities  

1. Allianz 222 5. American Equity Bonus Gold
2. Nationwide New Heights 12 6. Great American AssuranceSelect 7
3. Nationwide New Heights 9 7. Athene Ascent Pro 10 Bonus
4. Allianz Core Income 7  8. Great American Legend III

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Athene  Great American Allianz  
Allianz AIG Companies Midland National
Nationwide Symetra Financial Nationwide


2nd Quarter 2017 Index Annuity Sales  
Second quarter 2017 fixed index annuity sales were $14,359 million* compared with sales of $13,115 million for the previous quarter – a 9% increase and down 8% when compared with second quarter 2016 sales.  . All data is from the Beacon Research Fixed Annuity Premium Study.      

Allianz Life $2,201,307,500   AIG Companies  925,735,400
Athene USA 1,449,214,100   Midland National Life 570,259,400
Nationwide 1,282,200,000   Symetra Financial 552,380,200
American Equity 1,121,191,200   Global Atlantic 517,585,700
Great American 999,013,000   F&G Life

454,957,500

Top Selling 2nd Quarter Index Annuities  

1. Allianz 222 5. American Equity Bonus Gold
2. Nationwide New Heights 12 6. Great American AssuranceSelect 7
3. Nationwide New Heights 9 7. Athene Ascent Pro 10 Bonus
4. Allianz Core Income 7  8. Great American Legend III

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Aliianz Great American Allianz  
Athene  Symetra Financial Midland National
American Equity AIG Companies Voya


1st Quarter 2017 Index Annuity Sales Record
First quarter 2017 fixed index annuity sales were $13,115 million* compared with sales of $13,414 million for the previous quarter – a 2% decrease and down 14% when compared with first quarter 2016 sales.  All data is from the Beacon Research Fixed Annuity Premium Study.      

Allianz Life $1,699,438,800   AIG Companies 784,169,600
American Equity   1,028,839,200   Symetra Financial 637,031,200
Athene USA 1,014,070,000   Midland National Life 536,823,300
Great American 975,000,000   Voya 450,461,000
Nationwide 974,000,000   Lincoln National

450,436,600

Top Selling 1st Quarter Index Annuities  

1. Allianz 222 5. Nationwide New Heights 9
2. Nationwide New Heights 12 6. Pacific Index Choice
3.American Equity Bonus Gold 7. Great American Legend III
4. Great American AssuranceSelect 7 8. Athene Balanced Choice Elevate 12

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz Great American Allianz  
Athene   Symetra Financial Voya
American Equity AIG Companies Midland National

Winners & Losers
The first quarter is typically the weakest and a 2% dip is nothing, but this was the fourth declining quarter in a row. Most of the larger carriers reported 11% to 23% declines in quarter-to-quarter sales, however, Delaware and Voya had only minor slips and Great American managed an 8% gain.   The biggest winner was Nationwide going from $564 to $974 million in 1Q17 sales for a 73% boost; both Pacific Life  and Symetra reported 50% plus gains. Market share was little changed from a year ago. Agents had 62% of the sales, broker/dealers were at 18% and banks had 20%. FIAs with 10 year or longer surrender periods were 55%.   I’m not going to blame the DOL for all of the dip. The stock market was very attractive during this time and too many agents tend to market the FIA return potential rather than the real advantage of steady retirement income. However, I  sense that agents are dispirited by the ongoing vagaries of how the DOL will affect them and enthusiasm for making sales has dimmed.  

4th Quarter 2016 Index Annuity Sales

Fourth quarter 2016 fixed index annuity sales were $13,414 million* compared with sales of $14,545 million for the previous quarter an 8% decrease and down 15% when compared with fourth quarter 2015 sales. All data is from the Beacon Research Fixed Annuity Premium Study. 

Allianz Life $1,912,194,500   Midland National Life 688,306,000
Athene USA     1,316,302,000   Nationwide 564,300,000
American Equity 1,219,973,600   F&G Life 551,318,500
Great American 907,081,400   North American Life

534,775,000

AIG 808,152,700   Voya

456,888,700

Top Selling 4th Quarter Index Annuities  

1. Allianz 222 5.AIG Power Index Elite
2. American Equity Bonus Gold  6. Security Benefit Secure Income
3. Athene Balanced Choice Elevate 127. Great American Legend III
4. Great American AssuranceSelect 7   8.  Allianz Core Income 7

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Athene Great American Allianz  
Allianz Symetra Financial   Midland National
American Equity AIG Voya

Winners & Losers
  Although for the previous three years 4th quarter sales were up from the 3rd quarter, it isn’t always the case. From 2009 thru 2012 sales for the 4th quarter were down from the 3rd quarter.   The strongest quarterly bounces for top 20 carriers were Reliance Standard –  up 48% from the 3rd quarter, Voya up 32% and Bankers Life up 24%. On the other side, Global Atlantic FIA sales dipped 44% from the 3rd quarter.   The largest year-to-year percentage gains in top players were Reliance Standard – up 94% from 2015 sales and Athene up 85%. Genworth’s exit from the FIA market in 2016 resulted in an 84%decline when compared with 2015 sales; Phoenix sales declined 58% from 2015.   FIAs with 10 year or longer surrender periods were 63% – a sharp decline from 2015 where 70% of sales were in 10+ year FIAs.    


3rd Quarter 2016 Index Annuity Sales

Third quarter 2016 fixed index annuity sales were $14,545 million* compared with sales of $15,569 million for the previous – a billion dollar 6.6% decrease but up 3.3% when compared with third quarter 2015 sales. All data is from the Beacon Research Fixed Annuity Premium Study *Totals do not include MetLife. All data is from the Beacon Research Fixed Annuity Premium Study.

Allianz Life $2,446,978,800   Midland National Life 762,370,000
Athene USA     1,614,681,000   Global Atlantic  658,272,800
American Equity 1,291,235,800   Nationwide 598,100,000
AIG 858,909,100   North American Life 514,029,000
Great American   792,077,700   Security Benefit

488,986,400

Top Selling 3rd Quarter Index Annuities  

1. Allianz 222 5.Security Benefit Secure Income
2. Athene USA Ascent Pro 10 Bonus6. Global Atlantic ForeIncome 7-Year
3. Allianz Core Income 77.  Nationwide New Heights 12
4. American Equity Bonus Gold   8.  AIG Power Index Elite

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Great American Allianz  
Athene Symetra Financial   Midland National
American Equity AIG Global Atlantic

Winners & Losers
Athene posted the biggest quarter-to-quarter gains up 70%; Midland National Life was up 19%. Allianz alone accounted for $600 million of the drop, down 20%; Nationwide dropped 18%, Great American was down 16% and American Equity sagged 15%.   It wasn’t only FIA sales that were down. Fixed rate sales fell 17% and immediate annuity sales dropped 20%. The reason for the drop is the chilling effect of the uncertainty surrounding the DOL fiduciary rule revision   Wirehouses-B/Ds were again 20% of sales, banks accounted for 16% of FIA sales leaving independent/captive agents at 64% market share. Sales were lower in each channel than in the previous quarter.   Sales of FIAs with 10 year periods were 54% of the total. Based on sales, the weighted average surrender period for all FIAs sold was 8.8 years.  


2nd Quarter 2016 Index Annuity Sales  

Second quarter 2016 fixed index annuity sales were $15,569 million* compared with sales of $15,228 million for the previous record-setting quarter – a 2% increase but up 26% when compared with second quarter 2015 sales. All data is from the Beacon Research Fixed Annuity Premium Study *Totals do not include MetLife. All data is from the Beacon Research Fixed Annuity Premium Study.

Allianz Life $3,052,901,800   Nationwide 723,200,000
American Equity   1,525,431,100   Global Atlantic  687,785,900
AIG 991,813,700   Midland National Life 641,755,000
Athene USA   944,998,000   North AmericanLife 559,044,000
Great American   940,998,000   Symetra

531,284,200

Top Selling 2nd Quarter Index Annuities  

1. Allianz 222 5.Security Benefit Secure Income
2. Allianz Core Income 7 6. Nationwide New Heights 12
3. American Equity Bonus Gold 7. American Equity Retirement Gold
4. Pacific Life Index Choice  8.  Allianz 360

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Great American Allianz  
American Equity Symetra Financial   Voya
Athene AIG Global Atlantic

Winners & Losers
The biggest quarter-to-quarter gains were posted by Global Atlantic (nee Forethought) up 51%, Athene up 44% and North American up 27%. Double digit slides were reported by five carriers, with American Equity, EquiTrust and Symetra down double digits from the second quarter 2015. Although Nationwide slipped a little in the recent quarter they were still more than triple last year's second quarter tally. Wirehouses-B/Ds were 20%, banks accounted for 18% of FIA sales leaving independent/captive agents at 62% market share. Although agent market share is down, total independent agent sales are up 14% compared to year-to-date 2015. Sales of FIAs with 10 year periods increased to 55% from under 50% in the previous quarter. Based on sales, the weighted average surrender period for all FIAs sold was 9.05 years.


1st Quarter 2016 Index Annuity Sales Slip After Record
First quarter 2016 fixed index annuity sales were $15,228 million* compared with sales of $15,728 million for the previous record-setting quarter – a 3% decrease but up 33% when compared with first quarter 2015 sales. All data is from the Beacon Research Fixed Annuity Premium Study. *Totals do not include MetLife. All data is from the Beacon Research Fixed Annuity Premium Study.      

Allianz Life $2,785,423,800   Symetra 669,155,100
American Equity   1,688,042,100   Athene USA   654,960,000
Great American   1,110,809,100   Midland National Life 576,437,000
AIG 957,375,400   Voya 534,746,300
Nationwide 796,400,000   Lincoln National

512,914,900

Top Selling 1st Quarter Index Annuities  

1. Allianz 222 5. Pacific Life Index Choice 
2. American Equity Bonus Gold 6. American Equity Retirement Gold
3. Allianz Core Income 7 7. American Equity Foundation Gold
4. Nationwide New Heights 12 8. Great American Assurance Select 7

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Great American Allianz  
American Equity Symetra Financial   Voya
Athene AIG Pacific Life

Winners & Losers
The big winners were MYGAs. Fixed rate deferred annuity sales were $11.4 billion; up 35% from the 4th quarter and up 74% from the 1st quarter of 2015. In the FIA world Security Benefit rallied back and nearly doubled their 4th quarter sales. Allianz had a strong 23% quarter-to-quarter gain. Among other top players both Athene and Great American posted respectable increases. On the downside, Nationwide gave back much of the half billion dollar gain from last quarter, but still retained a position in the top five. American   Equity was down 17% from the last quarter.   Wirehouses-B/Ds and banks each accounted for 18% to 19% of FIA sales leaving independent agents at around 60% market share; agent sales slipped 6% from the previous quarter while both the bank and B/D channels increased sales. Sales of FIAs with 10 year periods were under 50%, continuing  the  sharp decline in sales of products with double digit surrender periods.
 


4th Quarter 2015 Index Annuity Sales Up
Fourth quarter 2015 index annuity sales  were $15,728 million* compared with sales of $14,073 million for the previous quarter – a 12% increase and up 31% when compared with fourth quarter 2014 sales. All data is from the Beacon Research Fixed Annuity Premium Study.      

Allianz Life $2,,267,765,200   Midland National Life 676,333,700
American Equity   2,043,076,300   Symetra 664,164,600
Nationwide 1,299,300,000   Voya 570,736,300
AIG Companies 1,105,022,700   Athene USA 564,155,300
Great American 980,156,600   North American

531,224,000

Top Selling 4th Quarter Index Annuities  

1. Allianz 222 5. American Equity Retirement Gold 
2. American Equity Bonus Gold 6. Allianz Core Income 7
3. Nationwide New Heights 12 7. American Equity Foundation Gold
4. Nationwide New Heights 9  8.Pacific Life Index Choice

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz Symetra Financial Allianz
American Equity Great American Voya
Nationwide AIG Nationwide

Winners & Losers
The big winner was Nationwide with a half billion dollar plus sales increase of 68% from the third quarter due to the new J.P. Morgan Mozaic Index sales story.  In dollar terms both Allianz and American Equity had nice quarterly gains. A number of other carriers were also strongly up.  On the losing side Great American dropped a couple hundred million from 3Q15 totals ; Security Benefit, Symetra and EquiTrust also dipped. However, the dip didn’t stop EquiTrust from becoming the 12th carrier to exceed $10 billion in FIA sales since industry inception. Independent & captive agents accounted for 65.3% of fourth quarter FIA sales; wirehouses-B/Ds were at 17.1% and banks accounted for 17.6% of fixed index sales. Even though agent market share slipped from 71.1% in 4Q14 to 65.3% in 4Q15, agent sales increased from $8.2 to $9.9 billion.   FIAs with 10 year or longer surrender periods were 63% – a sharp decline from 2014 where 77% of sales were in 10+ year FIAs.
 


3rd Quarter 2015 Index Annuity Sales Record
Third quarter 2015 index annuity sales were a record-setting $14,073 million compared with sales of $12,316 for the previous quarter – a 14% increase and up 23% when compared with third quarter 2015 sales*. . All data is from the Beacon Research Fixed Annuity Premium Study.      

Allianz Life $2,036,136,600   Symetra Financial 719,325,700
American Equity   1,764,179,400   Midland National Life 597,681,000
Great American 1,192,553,400   Athene USA 553,681,000
AIG Companies 1,011,905,900   Forethought Life 465,425,100
Nationwide 774,200,000   Voya

449,811,600

Top Selling 3rd Quarter Index Annuities  

1. Allianz 222 5. Great American AssuranceSelect 7
2. American Equity Bonus Gold 6. Nationwide New Heights 12
3. American Equity Retirement Gold 7. American Equity Foundation Gold
4. Allianz Core Income 7  8. Allianz 360

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
American Equity Symetra Financial Allianz  
Allianz   Great American Voya
Great American Pacific Life Midland National


2nd Quarter 2015 Index Annuity Sales Down
Second quarter 2015 index annuity sales were$12,552 million compared with sales of $11,590 for the previous quarter – an 8% increase, but down 3% when compared with second quarter 2014 sales. All data is from the Beacon Research Fixed Annuity Premium Study.      

Allianz Life $2,125,223,500   Symetra Financial 604,966,000
American Equity   1,757,192,600   Midland National Life 517,065,000
Great American 795,340,500   F&G Life 511,464,000
AIG Companies 712,396,300   EquiTrust Life 477,363,000
Athene USA 672,738,000   Security Benefit

409,236,100

Top Selling 2nd Quarter Index Annuities  

1. Allianz 222 5. Allianz Core Income 7 
2. American Equity Bonus Gold 6. Athene Balanced Choice Annuity 12
3. Allianz 360 7. Security Benefit Total Value Annuity
4. American Equity Retirement Gold 8. American Equity Foundation Gold

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
American Equity    Symetra Financial   Allianz  
Allianz   Great American Great American
Athene USA Pacific Life Voya

Winners & Losers
One year ago Security Benefit was the 2nd largest FIA writer with $1.24 billion of sales. For this second quarter report they are in 10th place with $409 million – or $800 million less. The carrier that absorbed much of this share was American Equity with $1.76 billion in 2Q15 – or roughly $800 million more than they sold in 2Q14. Indeed, American Equity was up $530 million from the previous quarter. There were other big movers: American General increased sales by almost $300 million and moved up to 4th place. Also in the bank channel, Symetra posted $230 million in added sales and moved into 6th place. Bank sales were nicely up by a couple hundred million; sales in wirehouses and regional B/Ds were up $100 million. Independent & captive agents accounted for 66.4% of first quarter FIA sales; banks accounted for 15.1% and wirehouses-B/Ds were at 18.5% of index sales. FIAs with 10 year or longer surrender periods were 66% of sales.
 


1st Quarter 2015 Index Annuity Sales Down
First quarter 2015 index annuity sales were $11,590 million compared with sales of $12,167 for the previous quarter – a 5%      drop and up 3% when compared with first quarter 2014 sales. All data is from the Beacon Research Fixed Annuity Premium Study.      

Allianz Life $2,316,631,400   F&G Life 599,637,000
American Equity   1,227,240,400   Midland National Life 497,996,000
Security Benefit Life 856,474,200   American General 429,779,300
Great American 723,064,600   EquiTrust Life 398,958,900
Athene USA 653,807,000   Symetra Financial

375,663,000

Top Selling 1st Quarter Index Annuities  

1. Allianz 222 5. Allianz 360 
2. American Equity Bonus Gold 6. Security Benefit Total Value Annuity
3. Security Benefit  Secure Income Annuity 7. American Equity Retirement Gold
4. Allianz Core Income 7  8. Athene Balanced Choice Annuity 12

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Great American Allianz  
American Equity Symetra Financial   Voya
Security Benefit Pacific Life Midland National

Source: Beacon Research Fixed Annuity Premium Study

Winners & Losers
After several huge quarters Allianz sales dropped off 24% from the fourth quarter; Great American posted a 15% decline. Offsetting this was a 61% rebound for Pacific Life, a 50% increase for Forethought Life and a 145% boost for Integrity Life. Compared with one year ago, the greatest dollar gains in first quarter growth came from American Equity, American General and F&G Life, aided by Forethought Life.

Historically the first quarter is by far the weakest quarter of the year, with second quarter sales 15% higher on average, implying a $13 billion second quarter.  Independent & captive agents accounted for 71.0% of first quarter FIA sales; banks accounted for 14.6% and wirehouses-B/Ds were at 14.4% of index sales. FIAs with 10 year or longer surrender periods were 70% of sales.  



4th Quarter 2014 Index Annuity Sales Up
Fourth quarter 2014 index annuity sales were $12,167 million compared with sales of $11,657 for the previous quarter – a 4% increase and up 3% when compared with fourth quarter 2013 sales. All data is from the Beacon Research Fixed Annuity Premium Study.    

Allianz Life $3,050,690,300   Athene (Aviva) 639,466,000
American Equity   1,116,333,500   Midland National Life 479,660,000
Security Benefit Life 884,622,300   American General 417,536,600
Great American 853,224,900   EquiTrust Life 416,147,700
F&G Life 647,498,500   Voya

353,145,300

Top Selling 4th Quarter Index Annuities  

1. Allianz 222 5. Allianz Core Income 7 
2. Security Benefit Secure Income Annuity 6. Athene Balanced Choice Annuity 12
3. Allianz 360 7. Great American AuuranceSelect 7
4.  American Equity Bonus Gold 8. Security Benefit Total Value Annuity

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Great American Allianz  
American Equity Symetra Financial   Voya
Security Benefit Allianz   Midland National

Source: Beacon Research Fixed Annuity Premium Study

Winners & Losers
Security Benefit Life becomes the 10th carrier to exceed $10 billion of cumulative FIA sales (and the quickest to reach this milestone) as shown on the chart on the opposite page. The greatest decline of a major player is Pacific Life with sales 55% lower than they were in 4th Quarter 2013.   The top five selling FIAs represent 28% of sales and present different paths. A “first mover advantage” using a fresh indexing method story propelled Allianz to new heights, aided by a strong GLWB stacking rate. Strong GLWB roll-up rates also aided SBL Secure Income Annuity and Amer Equity Bonus Gold, along with the traditional inducement of a high premium bonus.Independent & captive agents accounted for 71.3% of fourth quarter FIA sales; wirehouses- B/Ds were at 15.6% and banks accounted for 13.1% of index sales. FIAs with 10 year or longer surrender periods were 74% of sales


3rd Quarter 2014 Index Annuity Sales Dip
Third quarter 2014 index annuity sales were $11,657 million compared with sales of $12,899 for the previous quarter an 8% drop, and up 16% when compared with third quarter 2013 sales. FIA sales were 54% of all fixed deferred annuity sales. All data is from the Beacon Research Fixed Annuity Premium Study.   

Allianz Life $3,078,982,800   F&G Life 454,622,000
American Equity   1,041,449,200   Symetra Financial 451,191,300
Security Benefit Life 937,949,100   Midland National Life 427,873,000
Great American 688,031,900   EquiTrust Life 403,430,900
Athene (Aviva) 617,613,000   Voya

331,321,500

Top Selling 3rd Quarter Index Annuities  

1. Allianz 222 5. Allianz Core Income 7 
2. Allianz 360 6. Security Benefit Foundation
3. Security Benefit Total Value Annuity 7. Symetra EDGE PRO 7
4.  American Equity Bonus Gold 8. Allianz 365i

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Symetra Financial   Allianz  
American Equity Great American Voya
Security Benefit Allianz Protective Life

Source: Beacon Research Fixed Annuity Premium Study

Winners & Losers
Once again the big winner was Allianz with over a billion dollar increase in quarter-to-quarter sales; this 37% increase was also the greatest percentage gain for the top ten sales leaders. Other strong gainers were F&G Life – up 19%, American Equity – up 18% and Security Benefit – up 14%. In the next tier American General more than doubled sales from the previous quarter. A handful of carriers posted declines, the most significant decline coming from Pacific Life that witnessed a 52% drop.

FIAs with surrender periods of more than 10 years increased from 8% to 12% of sales; surrender periods of 7 years or less captured 19%. Bank market share slipped from 16.5% to 14.3% with wirehouse and B/D shares increasing from 14.6% to 16.2%. For the first time ever the B/D channel sells more FIAs than the bank channel and is the channel with the strongest growth.



2nd Quarter 2014 Index Annuity Sales Set Record
Second quarter 2014 index annuity sales were $12,899 million compared with sales of $11,236 for the previous quarter – a 15% increase and up 42% when compared with second quarter 2013 sales. FIA sales were 62% of all fixed deferred annuity sales. All data is from the Beacon Research Fixed Annuity Premium Study.
 

Allianz Life $3,817,310,800   Midland National Life 440,480,700
Security Benefit Life   1,244,563,400   ING 423,808,000
American Equity 995,852,200   EquiTrust Life 419,874,900
Great American 788,194,700   F & G 378,548,000
Athene (Aviva) 589,095,400   Symetra Financial

372,017,300

Top Selling 2nd Quarter Index Annuities  

1. Allianz 360 5. Allianz Core Income 7 
2. Allianz 222 6. Allianz 365i
3. Security Benefit Secure Income Annuity 7. American Equity Bonus Gold
4. Security Ben Total Value Annuity 8. Symetra EDGE PRO 7

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Great American   Allianz  
Security Benefit   Symetra Financial ING
American Equity  Allianz Nationwide 

Source: Beacon Research Fixed Annuity Premium Study  

Winners & Losers
Once again the big winner was Allianz with over a billion dollar increase in quarter-to-quarter sales; this 37% increase was also the greatest percentage gain for the top ten sales leaders. Other strong gainers were F&G Life – up 19%, American Equity – up 18% and Security Benefit – up 14%. In the next tier American General more than doubled sales from the previous quarter. A handful of carriers posted declines, the most significant decline coming from Pacific Life that witnessed a 52% drop.

FIAs with surrender periods of more than 10 years increased from 8% to 12% of sales; surrender periods of 7 years or less captured 19%. Bank market share slipped from 16.5% to 14.3% with wirehouse and B/D shares increasing from 14.6% to 16.2%. For the first time ever the B/D channel sells more FIAs than the bank channel and is the channel with the strongest growth.
 


1st Quarter 2014 Index Annuity Sales Dip
Second quarter 2014 index annuity sales were $12,899 million compared with sales of $11,236 for the previous quarter – a 15% increase and up 42% when compared with second quarter 2013 sales. FIA sales were 62% of all fixed deferred annuity sales. All data is from the Beacon Research Fixed Annuity Premium Study.

 

Allianz Life $2,787,757,900   Midland National Life 448,824,000
Security Benefit Life   1,096,152,900   ING 429,996,300
American Equity 845,804,000   EquiTrust Life 395,815,000
Great American 772,151,100   Symetra Financial 357,743,900
Athene (Aviva) 571,834,400   Lincoln National

349,011,700

Top Selling 1st Quarter Index Annuities  

1. Allianz 360 5. Allianz 222
2. Allianz 222 6. American Equity Bonus Gold
3. Security Ben Total Value Ann (w & w/o MVA) 7. Pacific Life Pacific Index Choice
4. Security Benefit Secure Income Annuity 8. Symetra EDGE PRO 7

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Great American   Allianz  
Security Benefit   Symetra Financial ING
American Equity  Pacific Life  Pacific Life 

Source: Beacon Research Fixed Annuity Premium Study  

Winners & Losers
There were other multi-million dollar selling carriers with higher percentage gains than Allianz. The post-merger Athene (née Aviva) more than doubled their sales and Lincoln National was up 68% compared to the previous quarter, but six of the top ten suffered sales declines. This should not be surprising because historically the first quarter has been the weakest sales quarter of the year. This make Allianz’s 21% gain even more significant; just the dollar amount of the quarter-to-quarter Allianz sales gain was greater than all but the top five carriers in total 1st quarter sales.

FIAs with surrender periods of more than 10 years dropped to 8% of sales; surrender periods of 7 years or less captured 20%. Bank market share was up 2% to 16.7% with wirehouse and large regional B/D shares unchanged. The sea change from the previous quarter was independent B/D market share soaring from 3.7% to 13.1% in the first quarter with independent producers falling from 75.3% to 66.6% of total market share.


4th Quarter 2013 Index Annuity Sales Soar
Fourth quarter 2013 index annuity sales were $11,757 million compared with sales of $10,051 for the previous quarter – a 17%      increase and up 39% when compared with fourth quarter 2012 sales. Quarterly sales set an all-time record eclipsing the new   record set just last quarter and 2013 sales also set a record. All data is from the Beacon Research Fixed Annuity Premium Study. Total 2013 index annuity sales were $38.7 billion.
 

Allianz Life $2,310,024,400   Pacific Life 475,398,100
Security Benefit Life   1,202,182,200   Aviva  470,389,000
 Great American 1,083,937,700    EquiTrust Life 460,560,900
American Equity 1,008,314,000   Symetra Financial 383,639,100
Midland National Life  509,047,000   ING Voya

373,253,300

Top Selling 4th Quarter Index Annuities  

1. Allianz 360 5. Allianz 222
2. Security Ben Total Value Ann (w & w/o MVA) 6. Security Benefit Secure Income Annuity
3. Pacific Life Pacific Index Choice 7. Genworth SecureLiving Index
4. American Equity Bonus Gold 8. Allianz MasterDex X

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Great American   Pacific Life 
Security Benefit   Symetra Financial ING
American Equity  Pacific Life  Protective Life

Source: Beacon Research Fixed Annuity Premium Study  

Winners & Losers
The word is Barclays. Over half of the quarter’s $1.7 billion rise over the previous record quarter was due to Allianz’s 78% gain. This was largely due to the introduction of Barclays US Dynamic Balance Index. They weren’t the only big gainer. Due to bank channel strength Pacific Life was up 55% and Great American was up 23%. In all, 6 of the top ten were up; 4 were down.

Independent & captive agents accounted for 80.4% of fourth quarter FIA sales; wirehouses- B/Ds were at 4.8% and banks accounted for 14.7% of index sales. FIAs with 10 year or longer surrender periods were 77% of sales.


3rd Quarter 2013 Index Annuity Sales Leap
Third quarter 2013 index annuity sales were $10,051 million compared with sales of $9115 for the previous quarter – a 10%      increase and up 15% when compared with third quarter 2012 sales. Quarterly sales set an all-time record eclipsing the new record set just last quarter. All data is from the Beacon Research Fixed Annuity Premium Study.

Allianz Life $1,297,875,200   Aviva 497,578,000
Security Benefit Life   1,247,667,800   Midland National Life  466,674,000
American Equity   976,486,800   Symetra Financial 443,583,500
Great American 880,083,200   ING 329,554,900
EquiTrust Life 498,798,600   Jackson National Life

326,472,900

Top Selling 3rd Quarter Index Annuities

1. Security Ben Total Value Ann (w & w/o MVA) 5. Allianz 360
2  Security Benefit Secure Income Annuity 6. Pacific Life Pacific Index Choice
3. American Equity Bonus Gold 7.  Allianz MasterDex X
4. Symetra Financial Edge Pro 7 8. American Equity Retirement Gold

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Symetra Financial Pacific Life 
Security Benefit   Great American ING
American Equity  Jackson National Jackson National

Source: Beacon Research Fixed Annuity Premium Study  

Winners & Losers
Seven of the top FIA players gained sales over the last quarter with Symetra up 45% and Great American up 33% - both carriers are sharply up from a year ago.  Jackson National was down 22%.  Genworth had an exceptional quarter up 200%+ from both previous and year ago quarters. Independent & captive agents accounted for 80.6% of third quarter index annuity sales; wirehouses-B/Ds were at 4.5%. The biggest gain was in bank distribution which accounted for 14.8% of index sales – up from 8.1% market share in 2012 and more than double their market share of 2011. FIAs with 10 year or longer surrender periods dropped from 83% of sales in the previous quarter to 76% in the current quarter.

Year-to-date sales finished the 3rd quarter $1.2 billion higher than where they were at the same time last year. 2013 will set a new record of around $37.6 billion or even a bit more, which will be a 10% bump from last year’s previous record. The reason for the increase is simple – higher bond yields creating higher index annuity participation.


2nd Quarter 2013 Index Annuity Sales Jump 
For the first time in four quarters FIA sales were up; second quarter 2013 index annuity sales were $9115 million compared with sales of $7787 for the previous quarter – a resounding 17% increase and up 3% when compared with second quarter 2012 sales. Quarterly sales set an all-time record eclipsing the $8972 million sold in the third quarter of 2010. All data is from the Beacon Research Fixed Annuity Premium Study. The top ten carriers for the second quarter:

Allianz Life $1,253,304,800   Aviva 496,932,000
Security Benefit Life   1,129,754,200   Midland National Life  423,330,000
American Equity   1,049,853,000   Jackson National 421,324,000
Great American 660,420,500   Symetra Financial 306,219,300
EquiTrust Life 540,746,100   ING

279,199,600

Top Selling 2nd Quarter Index Annuities

1. Security Ben Total Value Ann (w & w/o MVA) 5. Allianz MasterDex X
2  Security Benefit Secure Income Annuity 6. American Equity Retirement Gold
3. American Equity Bonus Gold 7. Great American Safe Return
4. Allianz Endurance Plus 8. Symetra Financial Edge Pro 7

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Symetra Financial Pacific Life 
Security Benefit   Jackson National ING
American Equity  Great American Jackson National

Source: Beacon Research Fixed Annuity Premium Study  

Winners & Losers
Eight of the top FIA players gained sales with Symetra more than doubling (107%) and Great American up 52% in sales from the previous quarter. Jackson National was down 19% and Aviva dropped 13% from 1Q13.

Independent agents accounted for 85% of second quarter index annuity sales; banks were 12% with over $1 billion in sales. FIAs with 10 year or longer surrender periods accounted for 83% of sales.

I closed the previous quarter’s comments saying that I saw nothing disrupting the poor sales pattern for the second quarter. I didn’t predict the reaction in bond yields to the Federal Reserve Board’s declaration that they would definitely… probably..quit buying Treasury debt in the fall...or later. The pop-up in rates pushed caps higher and excited agents. The cap jump came early this year.


1st Quarter 2013 Index Annuity Sales Drop  
For the third consecutive quarter FIA sales were lower than the previous quarter; first quarter 2013 index annuity sales were $7787 million compared with sales of $8452 for the previous quarter a 7.9% drop and down 4.6%% when compared with first quarter 2012 sales. All data is from the Beacon Research Fixed Annuity Premium Study. The top ten carriers for the first quarter:

Allianz Life $1,151,273,500   EquiTrust Life 457,498,600
Security Benefit Life   946,191,300   Great American   434,521,100
American Equity   847,770,500   Midland National Life 381,024,000
Aviva 570,056,000   ING 239,495,000
Jackson National 520,334,000   F&G Life

  223,733,900

Top Selling 1st Quarter Index Annuities

1. Security Ben Total Value Ann (w & w/o MVA) 5. Allianz MasterDex X
2  Security Benefit Secure Income Annuity 6. American Equity Retirement Gold
3. American Equity Bonus Gold 7. Jackson National Elite Choice
4. Allianz Endurance Plus 8. Great American Safe Return

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Security Benefit   Symetra Financial ING
American Equity  Pacific Life Pacific Life 

Source: Beacon Research Fixed Annuity Premium Study  

Winners & Losers
Seven of the top FIA players lost sales when compared with the 4th quarter; Aviva was down 22%. However, Great American sales were up 13% and both Jackson National and Midland National posted over 9% increases from the previous quarter. The greatest quarter-to-quarter loss by a top 20 carrier was a 52% decline from Lincoln National. The greatest gain was 76% from Athene Annuity. Independent agents accounted for 82%  of first quarter index annuity sales. FIAs with 10 year or longer surrender periods accounted for 86.5% of sales reported by SCP.

It doesn’t take tea leaves to show why sales were down. The interest caps on index annuities were too modest to attract savers, so they continue to leave their money in the bank (unless tempted by large bonuses), and the climbing stock market caused the less risk averse to look elsewhere for returns. There is nothing disrupting this pattern in the second quarter. 


4th Quarter 2012 Index Annuity Sales Dip  
Fourth quarter 2012 index annuity sales were $8452 million compared with sales of $8735 million for the previous quarter for a dip of 3.2%, but up 1.2% when compared with fourth quarter 2011 sales. All data is from the always dependable Beacon Research Fixed Annuity Premium Study.
Total 2012 index annuity sales were $34.2 billion. The top 10 carriers for the fourth quarter were:

Allianz Life $1,238,212,200   EquiTrust Life 473,367,800
Security Benefit Life   1,025,747,600   Lincoln National   461,516,400
American Equity   979,647,700   Great American 385,196,200
Aviva 730,504,000   Midland National Life 346,804,000
Jackson National 476,700,600   ING

  276,845,300

Top Selling 4th Quarter Index Annuities

1. Security Ben Total Value Ann (w & w/o MVA) 5. American Equity Retirement Gold
2  American Equity Bonus Gold 6. Security Benefit Secure Income Annuity
3. Allianz Endurance Plus 7. Aviva BAA 12
4. Allianz MasterDex X 8. Lincoln National OptiChoice

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Security Benefit   Pacific Life ING
American Equity  Symetra Financial Pacific Life 

Source: Beacon Research Fixed Annuity Premium Study  

Winners & Losers
The top selling product for the 4th quarter and the entire year was not an index annuity, but the New York Life Lifetime Income Annuity with over $2 billion in sales. The top FIA players split with EquiTrust, American Equity, Lincoln National, Jackson National and Security Benefit posting gains while the other top players lost ground. The big winner was EquiTrust with a 39% increase. Independent agents accounted for 83% of fourth quarter index annuity sales. FIAs with 10 year surrender periods accounted for almost 3 out of 4 sales.

As in the previous quarter, the driving force behind sales on most of the top selling products were premium bonuses, but the roll-up rate of the lifetime income benefit on other products continued to generate sales. The biggest effect on sales is that the amount of deposits in bank money markets and short-term CDs increased by $460 billion from April to December in 2012 (nervous money prefers to remain liquid).


3rd Quarter 2012 Index Annuity Sales Flat  
Third quarter 2012 index annuity sales were $8735 million compared with sales of $8845 million for the previous quarter a 1.0%, but up 0.5% when compared with third quarter 2011 sales. All data is from the Beacon Research Fixed Annuity Premium Study. The top 10 carriers for the third quarter were:

Allianz Life 1,302,139,100   Jackson National $441,524.300
Aviva 1,028,509,000   Lincoln National   427,500,400
Security Benefit Life   918,319,900   Midland National Life 400,835,000
American Equity   862,257,700   EquiTrust Life 341,361,000
Great American 507,010,800   ING 291,109,200

Top Selling 3rd Quarter Index Annuities

1. American Equity Bonus Gold 5. Security Ben Total Value Ann (w & w/o MVA)
2  Aviva BAA 12 6. Security Benefit Secure Income Annuity
3. Allianz MasterDex X 7. American Equity Retirement Gold
4. Allianz Endurance Plus 8. Great American Safe Return

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Pacific Life ING
Security Benefit   Symetra Financial Pacific Life 

Source: Beacon Research Fixed Annuity Premium Study  

Winners & Losers
With the exception of American Equity, Lincoln National and EquiTrust most other top players had small decreases in sales when compared with the previous quarter. Once again the big winner was Security Benefit, moving to third place in third quarter sales with a 42% increase.
Independent agents accounted for 85% of third quarter index annuity sales.

The driving force behind sales on most of the top selling products are premium bonuses, but the roll-up rate of the lifetime income benefit on other products continues to generate sales. Even though index annuity sales were flat they look pretty good when compared with variable and fixed rate sales for the same period. On a relative basis with other no-market-risk-to-principal interest paying alternatives index annuities are still very competitive.


2nd Quarter 2012 Index Annuity Sales Jump  
Second quarter 2012 index annuity sales were $8845 million compared with sales of $8166 million for the previous quarter an increase of 8% and were up 5% when compared with second quarter 2011 sales, according to the Beacon Research Fixed Annuity Premium Study. The top 10 carriers for the second quarter were:

Allianz Life 1,421,016,100   F & G Life 469,947,300
Aviva 1,096,389,000   Midland National Life 428,883,000
American Equity 814,839,600   Jackson National Life 392,346,500
Security Benefit Life 645,134,100   Lincoln National     378,530,700
Great American 636,628,300   North American Company  320,739,700

Top Selling 2nd Quarter Index Annuities

1. Security Benefit Secure Income Annuity 5. Great American Safe Return
2  Allianz MasterDex X 6. Aviva Income Preferred Bonus
3. Aviva BAA 12 7. Allianz Endurance Plus
4 American Equity Bonus Gold 8. American Equity Retirement Gold

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Pacific Life ING
American Equity  Lincoln National Pacific Life 

Source: Beacon Research Fixed Annuity Premium Study  

Index annuity sales rose whilst fixed rate sales fell. The big winner was Security Benefit, moving to fourth place in second quarter sales, and having their Secure Income Annuity displace Allianz MasterDex X to become the top selling index annuity (including both MVA and non-MVA versions). Independent agents accounted for 85% of second quarter sales, sales from bank and broker/dealer channels are increasing according to Beacon Research The driving forces behind sales seemed divided between those that stressed the roll-up rate of the lifetime income benefit on some products and others that translated the premium bonus into a first year return. Either way, agents appear to continue to sell based on rate (price) rather than benefits (value). 

LIMRA says that 87% of second-quarter indexed annuity sales involved annuities that offered a life income rider (GLWB), and 71% elected a GLWB rider. I believe this to be the most credible data on the topic and continues to illustrate that in this rate environment current roll-up and payout rates although down a bit take on a “fire sale” appeal in view of future uncertainties.

Source: Advantage Compendium Source: Beacon Research

1st Quarter 2012 Index Annuity Sales Dip  
First
quarter 2012 index annuity sales were $8166 million compared with sales of $8352 for the previous quarter a  decrease of 2% and were up 9% when compared with first quarter 2011 sales according to the always dependable Beacon Research Fixed Annuity Premium Study.

Allianz Life 1,441,557,400   Midland National Life 435,488,000
Aviva 1,142,721,000   Jackson National Life 386,140,200
American Equity 777.480,700   Security Benefit Life 351,298,600
F&G Life 523,474,000   North American Company     346,229,000
Great American 512,368,800   ING 288,955,700

Top Selling 1st Quarter Index Annuities

1. Allianz MasterDex X 5. Allianz Endurance Plus
2  Aviva BAA 12 6. American Equity Retirement Gold
3. American Equity Bonus Gold 7. Great American Safe Return
4 Aviva Income Preferred Bonus 8. Security Benefit Secure Income Annuity

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Great American ING
American Equity  Lincoln National Pacific Life 

Source: Beacon Research Fixed Annuity Premium Study  

The number #1 selling fixed annuity in the first quarter was an immediate annuity New York Life Lifetime Income Annuity Fixed Income. According to conventional wisdom immediate annuities will not be purchased in low interest times because guaranteed payout are low. It appears consumers would rather have a low payout that’s guaranteed rather than a higher one dependent on Wall Street sagacity.  

Index annuity sales also held up well in the first quarter. A lot of this is due to consumers hearing the index annuity or guaranteed lifetime withdrawal story for the first time and deciding that a 3% cap or a 6% roll-up is much more attractive than a 0.3% CD yield or the unknown growth (or loss) of a Wall Street managed portfolio.

As an annuity seller one may tend to look backwards, comparing today’s rates and caps with past ones, and deciding today’s annuities aren’t attractive enough. However, the consumer’s fresh eye sees rates and guarantees that they can’t get anywhere else. Talk to a consumer. They’ll sell you on why annuities are such a great product to buy during today’s uncertain times.


4th Quarter 2011 Index Annuity Sales Dip  
Fourth quarter 2011 index annuity sales were $8352 million compared with sales of $8690 for the previous quarter a  4% decrease according to the Beacon Research Fixed Annuity Premium Study. The top ten carriers for the fourth quarter:
2011 Index annuity sales fwere $32.978 billion.

Allianz Life  $ 1,436,696,200   Security Benefit Life 398,049,500
Aviva  1,208,427,000   Jackson National Life 388,793,900
American Equity  1,154,759,400   North American Company 346,707,000
Great American 415,798,100   F & G Life         315,821,300
Midland National Life 401,979,000   Lincoln National Life 294,032,400

Top Selling 4th Quarter Index Annuities

1. Allianz MasterDex X 5. Allianz Endurance Plus
2  American Equity Retirement Gold 6. Aviva Income Preferred Bonus
3. American Equity Bonus Gold 7. Jackson National Elite Choice
4 Aviva BAA 12 8. Great American Safe Return

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Lincoln National ING
American Equity  Great American Lincoln National

Source: Beacon Research Fixed Annuity Premium Study  

Winners & Losers
Last April I wrote about the new Security Benefit index annuity saying “it’ll stir things up a bit”. In the 4th quarter Security Benefit was the 6th top selling annuity, all due to an extremely competitive GLWB. It was a mixed quarter with many top carriers reporting lower sales from the 3rd; the exception being American Equity with a solid gain.


500,000 Index Annuity Contracts Purchased Each Year (2/12)
Since their inception in 1995 the number of index annuity policies purchased rose steadily hitting 171,153 in the second quarter of 2005. Since that time purchases have fallen back. In general, looking at the last five years, roughly 125,000 index annuity policies are purchased each quarter for a total of 500,000 contracts a year. The reason total annual sales have trended up is the average sale size continues to increase. Extrapolation based on a 2011 survey conducted by Advantage Compendium (IC, 12/11) implies that approximately 50,000 of these quarterly sales result from exchanges/replacements of existing annuities and 75,000 are new purchases. A previous article (IC, 9/10) concluded that since the independent annuity producer channel has steadily represented 90% or more of sales that it appeared this index annuity distribution channel has matured and thus any future growth would result mainly from increased average policy size. Subsequent results support this conclusion.

A related aspect written about previously was a prediction that annuity exchanges would decline due to the use of guaranteed lifetime withdrawal benefits and tighter suitability controls by carriers on what is an acceptable annuity exchange. This is supported by a Ruark Consulting study (page 5) that found FIA surrenders have significantly declined in recent years. The traditional way of distributing FIAs has hit a wall and even a combination of very low bank rates and a volatile stock market have not caused the number of sales to increase. 

This does not mean that index annuity sales have reached maturity because the bank and broker/dealer markets are virtually untapped. In addition, annuity producers that change their business model to become true investment advisors could see increased FIA sales because they will have more prospective clients due to the increased services offered. I see very strong overall growth in these other channels. However, for those carriers and marketing companies competing in the independent annuity producer world any growth in sales will come from their competitors.


3rd Quarter 2011 Index Annuity Sales Up 
Third quarter 2011 index annuity sales were $8702 million compared with sales of $8273 for the previous quarter a  16% increase and were down 1% from third quarter 2010 sales of $8772. Index life sales were up 20% from the previous quarter and up 51% from a year ago according to AnnuitySpecs.com’s Indexed Sales & Market Report 3rd Quarter, 2011

Allianz Life  $ 1,555,766,813   North American Company 437,500,000
Aviva  1,354,245,210   Jackson National Life 427,436,893
American Equity  1,056,020,432   Midland National Life 413,716,085
Great American 602,085,143   Security Benefit Life        351,658,249
Lincoln National 461,979,000   ING 311,048,232

Top Selling 3rd Quarter Index Annuities

1. Allianz MasterDex X 5. Allianz Endurance Plus
2  American Equity Bonus Gold 6. Security Benefit Secure Income Annuity
3. American Equity Retirement Gold 7. Aviva Income Preferred Bonus
4 Aviva BAA 12 8. Great American Safe Return

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Lincoln National ING
American Equity  Great American Lincoln National

Winners & Losers
Companies that told a very strong GLWB roll-up rate story tended to showed increases. Sales from Aviva, Security Benefit, American Equity and Phoenix collectively gained $638 million in sales when compared with the second quarter, contrasted with a collective decline of $382 million from Allianz, Lincoln National and ING with stories that didn’t seem as showy. Great American had a strong gain due to very competitive caps. And frankly, I don’t know why Jackson National’s sales were up 24%.
The average annuity sale was $65,663. Products with a surrender period of less than 10 years represent 21% of all sales. The index annuity agent commission averaged 6.6% of premium. 


2nd Quarter 2011 Index Annuity Sales Up 16% 
Second
quarter 2011 index annuity sales were $8273 million compared with sales of $7141 for the previous quarter a  16% increase and were down 1% from second quarter 2010 sales. Index life sales were up 17% from the previous quarter and up 35% from a year ago according to AnnuitySpecs.com’s Indexed Sales & Market Report 2nd Quarter, 2011.

Allianz Life  $ 1,819,691,648   Lincoln National 480,402,000
Aviva  1,075,093,427   ING 410,461,953
American Equity  945,359,127   Midland National Life 397,700,000
Great American 518,341,634   Jackson National Life         345,175,323
North American Company 487,400,000   National Western Life 244,014,903

Top Selling 2nd Quarter Index Annuities

1. Allianz MasterDex X 5. Aviva BAA 12
2  American Equity Retirement Gold 6. Aviva Income Preferred Bonus
3. American Equity Bonus Gold 7. Lincoln National New Directions 6
4 Allianz Endurance Plus 8. Great American Safe Return

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Lincoln National ING
Aviva   Jackson National Jackson National
American Equity  ING Great American

Winners & Losers
Nine of the top ten carriers posted higher sales than the previous quarter. In all 24 carriers were up, 9 were down.
Principal, Security Benefit and Symetra had initial sales in the second quarter.
The average annuity sale was $61,356. Products with a surrender period of less than 10 years represent 22% of all sales. The index annuity agent commission averaged 6.65% of premium. 


1st Quarter 2011 Index Annuity Sales Drop - Down 15%  
First quarter 2011 index annuity sales were $7141 million compared with sales of $8374 for the previous quarter a  15% dip and were $1.6 Billion below third quarter 2010 sales . When compared with the same period one year ago sales were up 5%, but the first quarter 2010 had weak sales. Index life sales were down 12% from the previous quarter and up 36% from a year ago according to AnnuitySpecs.com’s Indexed Sales & Market Report. The top ten index annuity carriers for the first quarter:

Allianz Life  $ 1,507,202,697   Lincoln National 378,494,000
American Equity  1,174,915,617   Midland National Life 339,200,000
Aviva 842,341,631   Jackson National Life 325,572,548
North American Company 401,000,000   Great American          310,986,636
ING 382,383,966   National Western Life 222,764,079

Top Selling 1st Quarter Index Annuities

1. Allianz MasterDex X 5. Aviva BAA 12
2  American Equity Retirement Gold 6. Lincoln National New Directions 6
3. American Equity Bonus Gold 7. Aviva Income Preferred Bonus
4 Allianz Endurance Plus 8. Allianz MasterDex 5 Plus

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Lincoln National ING
American Equity    Jackson National Jackson National
Aviva  ING Lincoln National

Winners & Losers
Five of the top ten carriers posted lower sales from the previous quarter. In all 16 carriers were up, 17 were down. Sales were negatively affected by lower index participation due to decreased yields on bonds
Based on our research this was the greatest quarter-to-quarter decrease in index annuity sales ever  in both dollars and percentages so it is a significant event.
The average annuity sale was $68,403. Products with a surrender period of less than 10 years represent 21% of all sales.The average agent commission was 6.65%.   

The main reason for the decline is low caps. I have talked with many agents this spring that have told me that their sales are down, and they believe the reason is because it's hard to get someone to buy an annuity when the interest cap is 3% or 4%. The exception I found was with some agents in banks, who are having success in converting 1% CD owners into index annuity owners. The low caps combined with a still rising stock market has also cooled interest from the broker/dealers I've spoken with, and they have returned to selling variable annuities. 


4th Quarter 2010 Index Annuity Sales Slip  
The AnnuitySpecs.com Indexed Sales & Market Report 4th Quarter, 2010 shows fourth quarter 2010 index annuity sales were $8374 million compared with sales of $8770 million for the previous quarter. Third quarter sales were up 18.6% when compared with the same period one year ago. Annualized index life premium was $221 million for the 4th quarter. 2010 Index Annuity Sales were $32,435,563,979.

The top ten index annuity carriers for the fourth quarter:

Allianz Life  1,898,832,624   North American Company 359,900,000>
American Equity  1,371,292,772   Midland National 332,700,000
Aviva 1,241,600,859   Lincoln National 326,573,183
Jackson National Life 388,219,980   Great American          270,906,836
ING 363,474,463   National Western Life 261,880,105

Top Selling 4th Quarter Index Annuities

1. Allianz MasterDex X 5. Aviva BAA 12
2  American Equity Retirement Gold 6. Aviva Income Preferred Bonus
3. American Equity Bonus Gold 7. Allianz MasterDex 5 Plus
4.  Allianz Endurance Plus 8. ING Secure Opportunities Plus

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Lincoln National Jackson National
American Equity    Jackson National Lincoln National
Aviva  ING ING

Winners & Losers
Six of the top ten carriers posted lower sales from the previous quarter; Lincoln National plummeted 62% as they were forced to cut rates on their multiyear fixed account. In all 13 carriers were up, 20 were down. Sales were negatively affected by lower index participation due to decreased yields on bonds. The average annuity sale was $68,977. Products with a surrender period of less than 10 years represent 18% of all sales.
The average agent commission was 6.7%.    


3rd Quarter 2010 Index Annuity Sales Up 
Third
quarter 2010 index annuity sales were $8770 million compared with sales of $8379 million for the previous quarter  a  4.7% upswing. When compared with the same period one year ago sales were up 16%. Index life sales were flat from the previous quarter and up 27% from a year ago according to AnnuitySpecs.com’s Indexed Sales & Market Report.
The top ten carriers for the third quarter: 

Allianz Life  $ 1,906,233,112   Jackson National Life 379,242,145
Aviva  1,390,629,656   Midland National 376,300,000
American Equity 1,009,653,033   North American Company 368,300,000
Lincoln National 852,960,698   LSW (National Life)  301,110,184
ING 486,002,000   Great American 249,717,317

Top Selling 3rd Quarter Index Annuities

1. Allianz MasterDex X 5. American Equity Bonus Gold
2  Lincoln National New Directions 6 6. Allianz Endurance Plus
3. American Equity Retirement Gold 7. Lincoln National New Directions 8
4Aviva BAA 12 8. Allianz MasterDex 5 Plus

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Lincoln National Jackson National
Aviva  Jackson National Lincoln National
American Equity  ING ING

Winners & Losers
Four of the top ten carriers posted lower sales from the previous quarter; Jackson National was down for the 2nd quarter in a row. In all 19 carriers were up, 15 were down. Quarterly sales might have finished flat if not for the 63% increase in Lincoln National Group sales most of which, I’m hearing, go into the MYGA bucket.The average annuity sale was $68,066. Products with a surrender period of less than 10 years represent 25% of all sales.
The index annuity agent commission averaged 6.50% of premium. The last time the average commission was lower than this was 1997.


2nd Quarter 2010 Index Annuity Sales Mixed 
Second
quarter 2010 index annuity sales were $8379 million compared with sales of $6819 million for the previous quarter  a  23% upswing. When compared with the same period one year ago sales were flat, but the second quarter of 2009 set an all-time
record so the bar was high according to AnnuitySpecs.com’s Indexed Sales & Market Report. The top ten index annuity carriers for the second quarter:

Allianz Life  $ 1,631,052,656   Midland National 477,874,909
Aviva  1,487,010,904   ING 474,179,100
American Equity 950,126,392   Jackson National Life 442,764,234
Lincoln National 523,082,594   LSW (National Life)   266,521,543
North American Company 496,664,354   National Western 220,398,399

Top Selling 2nd Quarter Index Annuities

1. Allianz MasterDex X 5. Aviva Income Preferred Bonus
2  American Equity Retirement Gold 6. Lincoln National New Directions 6
3. American Equity Bonus Gold 7. ING Secure Opportunities Plus
4 Allianz Endurance Plus 8. Aviva MultiChoice Income Xtra

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Lincoln National Jackson National
Aviva    Jackson National American National
American Equity ING ING

Winners & Losers
The only top ten carrier to post lower sales from the previous quarter was Jackson National; most carriers posted double digit gains. The largest gainers were National Western, Lincoln National and North American Company. Based on the top selling products it appears agents still feel the need to offer “double digit returns” even when CD rates are 1% with the top 5 products offering 8% or larger bonuses of one kind or another.The average annuity sale slumped a bit to $61,774. Products with a surrender period of less than 10 years represent 22% of all sales.
The index annuity agent commission averaged 6.76% of premium.


1st Quarter 2010 Index Annuity Sales Dip  
The AnnuitySpecs.com Indexed Sales & Market Report 1st Quarter, 2010 shows first quarter 2010 index annuity sales were $6819 million compared with sales of $7059 million for the previous quarter. First quarter sales were down 4% when compared with the same period one year ago.
The top ten index annuity carriers for the first quarter:

Allianz Life  $ 1,420,876,641   Midland National 389,800,000
Aviva  1,111,350,134   Lincoln National 324,262,080
American Equity 777,863,606   North American Company 319,000,000
Jackson National 472,502,610   LSW (National Life)   256,743,238
ING 453,306,000   GAFRI 157,839,538

Top Selling 1st Quarter Index Annuities

1. Allianz MasterDex X 5. Aviva Income Select Bonus
2  American Equity Retirement Gold 6. Allianz Endurance Plus
3. Aviva BPA Select 12 Annuity 7. ING Secure Opportunities Plus
4American Equity Bonus Gold 8. Aviva MultiChoice Income Xtra

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Lincoln National Jackson National
Aviva  Jackson National Lincoln National
American Equity  ING ING

Winners & Losers
With the exception of Aviva most carriers posted strong sales gains when compared with a year ago – ING sales doubled. Bank sales were up strongly increasing to $511 million from $291 million in the first quarter of 2009. The average annuity sale continues to rise; $64,448 was the average sale in the first quarter meaning around 100,000 polices were purchased. Surrender period of 10 years continue to represent more than half of all sales. The index annuity agent commission averaged 6.80% of premium.


4th Quarter 2009 Index Annuity Sales Drop   
Fourth quarter 2009 index annuity sales were $7059 million compared with sales of $7563 million for the previous quarter. Fourth quarter sales were off 7% when compared with third quarter sales
. When compared with the same period one year ago sales are down 3% according to AnnuitySpecs.com’s Indexed Sales & Market Report. 2009 Index Annuity Sales were a record $30,114,497,035.  

The top ten index annuity carriers for the fourth quarter:

Allianz Life  $ 1,543,863,742   Lincoln National 315,867,388
Aviva  855,408,180   Midland National 312,300,000
American Equity 800,871,591   LSW (National Life)   311,395,111
Jackson National 615,958,156   RBC Insurance 215,226,191
ING 479,331,007   North American Company 208,400,000

Top Selling 4th Quarter Index Annuities

1. Allianz MasterDex X 5. Aviva BPA Select 12 Annuity
2  American Equity Retirement Gold 6. Aviva Income Select Bonus
3. American Equity Bonus Gold 7. ING Secure Opportunities Plus
4Allianz Endurance Plus 8. Jackson National Select Ann Reset 5Yr

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva  Lincoln National American National
American Equity  ING ING

Winners & Losers
The comeback story continues to be Allianz who managed a double digit gain in sales during a quarter when most big players were receding. This strong finish enabled Allianz to finish 2009 as the number 1 index annuity seller beating Aviva by a whisker.The majority of sales continue to be in 10 year surrender period products and 7 out of 10 sales dollars go to annuities that include a premium bonus to either help pay off an existing surrender charge or create the effect of a higher yield. The index annuity agent commission averaged 6.75% of premium.


3rd Quarter 2009 Index Annuity Sales Drop 
AnnuitySpecs.com’s 3rd Quarter 2009 Advantage Index Sales & Market Report shows third quarter 2009 index annuity sales were $7563 million compared with record sales of $8395 million for the previous quarter. Third quarter sales were off 10% when compared with second quarter sales. When compared with the same period one year ago sales are up 11%. Index life sales ran in place dipping 1% from the previous quarter and were up 1% from a year ago.

The top ten index annuity carriers for the third quarter:

Allianz Life  $ 1,398,813,317   ING 579,013,630
American Equity 953,215,101   LSW (National Life)  337,022,438
Lincoln National 859,158,000   Midland National 284,100,000   
Jackson National 769,383,095   RBC Insurance 216,762,160
Aviva  670,517,629   North American Company 206,400,000

Top Selling 3rd Quarter Index Annuities

1. Allianz MasterDex X 5. ING Secure Opportunities Plus
2  American Equity Retirement Gold 6. American Equity Bonus Gold
3. Lincoln National New Directions 6 7. Allianz Endurance Plus
4. Jackson National Select AscenderPlus Select 8. Aviva BPA Select 12 Annuity

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Lincoln National Jackson National
American Equity  Jackson National ING
Aviva  ING Lincoln National

Winners & Losers
The two stories are the fall of Aviva from #1 to #5 in a single quarter enabling Allianz to regain the lead. The bigger story is Lincoln National and Jackson National gaining sales in bank and wirehouse channels, altho it appears Lincoln National is being sold as a MYG rather than for its indexed interest potential. The market share of bonus annuities has dropped 20% in the past year due to some other carriers pulling or modifying premium bonuses on products due to capital constraints. The index annuity agent commission averaged 6.7% of premium.


2nd Quarter 2009 Index Annuity Sales Set Record
The AnnuitySpecs.com Indexed Sales & Market Report shows second quarter 2009 index annuity sales were $8395 million compared with sales of $7097 million for the previous quarter. Second quarter sales were up 21% when compared with the same period one year ago. .

The top ten index annuity carriers for the second quarter:

Aviva   $ 1,611,448,143   Jackson National 505,146,408
Allianz Life 1,486,567,292   Midland National 375,300,000
American Equity 1,143,151,457   North American Company 339,900,000
Lincoln National 638,601,702   LSW (National Life)  306,364,317
ING 595,331,316   Forethought 165,598,977

Top Selling 2nd Quarter Index Annuities  

1. Allianz MasterDex X 5. American Equity Bonus Gold
2  American Equity Retirement Gold 6. Lincoln National New Directions 6
3. American Investors Income Select Bonus 7. ING Secure Opportunities Plus
4. Aviva BPA Select 12 Annuity 8. Aviva MultiChoice IncomeXtra

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Aviva   Lincoln National Jackson National
Allianz   Jackson National ING
American Equity  ING RBC

Winners & Losers
The top 7 carriers represent 75% of production. The biggest percentage mover was RBC with sales of $124 million, up 1320% from the previous quarter. American Equity increased sales by $513 million. Allianz and ING each increased sales over $300 million. The biggest loser was Aviva losing $786 million in quarterly sales.The average agent commission was 6.8%.  


1st Quarter 2009 Index Annuity Sales Dip   
The AnnuitySpecs.com Indexed Sales & Market Report shows first quarter 2009 index annuity sales were $7097 million compared with sales of $7253 million for the previous quarter. First quarter sales were up 23% when compared with the same period one year ago.

The top ten carriers for the first quarter:

Aviva   $ 2,397,628,461   Jackson National 353,743,600
Allianz Life 1,119,386,614   North American Company 282,400,000
American Equity 630,063,608   LSW (National Life)  227,807,625
Lincoln National 368,013,241   ING 220,104,443
Midland National 358,900,000   Old Mutual 139,361,885

Top Selling 1st Quarter Index Annuities  

1. American Investors Income Select Bonus 5. Aviva BPA Select 12 Annuity
2  Aviva MultiChoice IncomeXtra 6. Allianz Endurance 15
3. Allianz MasterDex X 7. Aviva MultiChoice Income Plus
4. American Equity Bonus Gold 8. Lincoln National New Directions 6

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Aviva   Lincoln National Jackson National
Allianz   Jackson National RBC
American Equity  ING American National

Winners & Losers
The top 6 carriers represent almost 75% of production. The big top mover is Lincoln National increasing sales 27% from the previous quarter and 68% from a year ago. Jackson National was up 83% from a year ago. RBC is up at least six fold and National Western is up 50% for a quarter or yearly look. Big losers are Old Mutual, and for the recent quarter ING and Lincoln Benefit. The index annuity agent commission averaged 7.60% of premium.


4th Quarter 2008 Index Annuity Sales Sharply Up   
The AnnuitySpecs.com Indexed Sales & Market Report shows fourth quarter 2008 index annuity sales were $7253 million compared with sales of $6796 million for the previous quarter. Fourth quarter sales were up 13% when compared with the same period one year ago.
2008 Index Annuity Sales were $26,752,278,197, a 6.2% increase over 2007 and only a half billion shy of the all-time 2005 record. The top ten carriers for the fourth quarter:

Aviva   $ 2,270,982,682   North American Company 313,000,000
Allianz Life 1,078,054,758   Jackson National 311,018,872
American Equity 531,512,693   Lincoln National 289,328,879
ING 399,599,000   LSW (National Life)  271,234,975
Midland National 369,300,000   Old Mutual 234,699,982

Top Selling 4th Quarter Index Annuities  

1. American Investors Income Select Bonus 5. Allianz Endurance 15
2  Aviva MultiChoice IncomeXtra 6. Aviva MultiChoice Income Plus
3. American Equity Bonus Gold 7. Allianz MasterDex 5 Plus
4. Allianz MasterDex X 8. Aviva BPA Select 12 Annuity

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Aviva   Lincoln National Jackson National
Allianz   ING AIG
American Equity  Jackson National ING

Winners & Losers
Aviva/American Investors 4th Qtr sales more than doubled from a year ago; Old Mutual sales fell by nearly half. For 2008 North American Company, Aviva and National (LSW) Life increased sales by over 50%, while National Western dipped 42%, Old Mutual declined 38%, and Sun Life dropped 34%. The index annuity commission received by the agent averaged 7.62% of premium. 


3rd Quarter 2008 Index Annuity Sales Dip
The AnnuitySpecs.com 3rd Quarter Advantage Index Sales & Market Report shows third quarter 2008 index annuity sales were $6781 million compared with sales of $6931 million for the previous quarter. Third quarter sales were up 5% when compared with the same period one year ago.

The top ten carriers for the third quarter:

Aviva   $ 1,990,524,402   North American Company 323,600,000
Allianz Life 1,047,757,051   OMFN 263,092,194
American Equity 563,036,998   LSW (National Life)  244,259,517
Midland National 393,100,000   Jackson National 230,155,524
ING 359.009.202   Lincoln National 218,627,448

Top Selling 3rd Quarter Index Annuities  

1. American Investors Income Select Bonus 5. Allianz MasterDex 5 Plus
2  Aviva MultiChoice IncomeXtra 6. Aviva MultiChoice Income Plus
3. American Equity Bonus Gold 7. American Investors Income Select Plus
4. Allianz Endurance 15 8. American Investors BPA Select Annuity

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Aviva   Lincoln National Jackson National
Allianz   ING ING
American Equity  Jackson National American National

Winners & Losers
Aviva/American Investors sales are up 47% year-to-date from last year, a percentage increase not as great as Lincoln National or Jackson National, but representing $1.5 billion in new sales. Indeed, without Aviva the change from 2007 for the first nine months of the year goes from up 4% to a loss of 5%.
The index annuity agent commission averaged 7.98% of premium. However, for the top 10 products the average agent commission about 8.6%, all have a type of bonus, average 15% 1st year pre-bonus surrender charge, and tell a life income story.


2nd Quarter 2008 Index Annuity Sales Jump
The AnnuitySpecs.com 2nd Quarter Advantage Index Sales & Market Report shows second quarter 2008 index annuity sales were $6931 million compared with sales of $5776 million for the previous quarter. Second quarter sales were up 6% when compared with the same period one year ago.

The top ten carriers for the second quarter:

Aviva   $ 1,604,545,409   ING 374,361,442
Allianz Life 1,060,526,169   OMFN 354,361,442
American Equity 640,179,900   Lincoln National  352,516,240
Midland National 489,400,000   LSW (National Life)  236,765,934
North American Company 422,900,000   GAFRI 194,022,673
 

Top Selling 2nd Quarter Index Annuities  

1. American Equity Bonus Gold 5. Aviva MultiChoice Income Plus
2  Allianz Endurance 15 6. North American Charter 14 Yr
3. American Investors Income Select Plus 7. American Investors Income Select Plus
4. Aviva MultiChoice IncomeXtra 8. Lincoln National New Directions 6

Top 2nd Quarter Carriers By Channel  

Agency   Bank Independent B/Ds  
Aviva   Lincoln National Jackson National
Allianz   Jackson National American National
American Equity  ING Protective/WCL

Winners & Losers
From a year ago North American sales nearly tripled, Lincoln National nearly doubled, and LSW was up by a half; Aviva was up around a third. Old Mutual, GAFRI and Sun Life all were down around a third and Allianz sales were down roughly a quarter from a year ago. The index annuity agent commission averaged 7.81% of premium.The market share of two-tier annuities dropped from 14.6% to 3.0% in the last year.


1st Quarter 2008 Index Annuity Sales Drop   
The Advantage Index Product Sales Report produced by AnnuitySpecs.com shows first quarter 2008 index annuity sales were $5776 million compared with sales of $6436 million for the previous quarter. First quarter sales were flat when compared with the same period one year ago.
The big news is Aviva overtook Allianz for the #1 spot. The top ten carriers for the first quarter:

Aviva   $ 1,222,756,051   ING 303,738,177
Allianz Life 1,042,638,688   Lincoln National 218,895,733
American Equity 506,368,390   NACOLAH  206,600,000
Midland National 356,800,000   Equitrust  205,758,205
OMFN 356,394,200   Jackson National 193,628,669

Top Selling 1st Quarter Index Annuities  

1. Aviva MultiChoice Income Plus 5. Allianz Endurance 15
2. American Equity Bonus Gold 6. Allianz MasterDex 5 Plus
3. Allianz MasterDex 10 7. ING Secure Opportunities Plus
4. American Investors Income Select Plus 8. OMFN Financial Spectrum Choice Bonus

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Aviva   Lincoln National Jackson National
Allianz   Jackson National AIG
American Equity  ING American National

Winners & Losers
From a year ago North American sales nearly doubled, AIG was up by half, Lincoln National and Aviva were each up around a third, LSW was up over a fifth and American Equity was up about a fifth. Compared to 1Q07 Allianz was down 17%, GAFRI & National Western down 30%, OMFN down 33% and Sun dropped 40%.The index annuity  agent commission averaged 8.00% of premium. Less than 18% of sales are in products with surrender periods of less than 10 years.


4th Quarter 2007 Index Annuity Sales Slip  
The Advantage Index Product Sales Report produced by AnnuitySpecs.com shows fourth quarter 2007 index annuity sales were $6436 million compared with sales of $6449 million for the previous quarter. Fourth quarter sales were flat when compared with third quarter sales and up 8% when compared with the same period one year ago.
Total sales for 2007 were $25.2 billion

The top ten carriers for the fourth quarter:

Allianz Life  $ 1,537,573,801   ING 293,020,947
Aviva 1,062,241,588   NACOLAH 247,200,000
American Equity 524,847,349   GAFRI   227,359,390
OMFN 447,006,778   Equitrust  221,033,241
Midland National  401,500,000   Jackson National 214,339,502

Top Selling 4th Quarter Index Annuities  

1. Allianz Endurance 15 5. American Investors Income Select Plus
2. Allianz MasterDex 10 6. Allianz MasterDex 5
3. American Equity Bonus Gold 7. American Investors Balance Plus Annuity 12
4. Aviva MultiChoice Income Plus 8. ING Secure Opportunities Plus

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Lincoln National AIG
American Equity  ING ING

Averages
The average indexed annuity issue age reported was 64 years old; average issue age ranged from 52 to 76.
The index annuity  agent commission averaged 7.74% of premium. Average weighted commission paid by carriers ranged from 3.00% to 10.80% of premium. Over 80% of sales paid a commission of between 9% and 13%.  


3rd 2007 Quarter Index Annuity Sales Slip
The Advantage Index Product Sales Report produced by AnnuitySpecs.com shows index annuity sales were $6449 million compared with sales of $6566 million for the previous quarter. Third quarter sales were down 2% when compared with second quarter sales and with the same period one year ago. The top ten carriers for the third quarter: 

Allianz Life $1,222,581,230   ING 326,930,425
Aviva 1,179,636,615   North American 268,600,000
American Equity 553,505,910   GARFI 256,265,000
Midland National 484,700,000   Jackson National 253,223,930
OMFN 463,165,671   Equitrust 213,243,315

Top Selling 3rd Quarter Index Annuities  

1. American Equity Bonus Gold 5. American Investors Income Select Plus
2. Allianz Endurance 15 6. Allianz MasterDex 5
3. Allianz MasterDex 10 7. American Investors Balance Plus Annuity 12
4. Aviva MultiChoice Income Plus 8. ING Secure Opportunities Plus

Top 3rd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Lincoln National AIG
American Equity  ING American National


The average index annuity sales premium reported was $55,629; average premium ranged from $15,464 to $110,000. The index annuity commission received by the agent averaged 8.05% of premium. Average weighted commission paid by carriers ranged from 3.00% to 10.45% of premium.


2nd Quarter 2007 Index Annuity Sales Rebound 
The Advantage Index Product Sales Report produced by AnnuitySpecshows second quarter 2007 index annuity sales were $66 04 million compared with sales of $5734 million for the previous quarter. Second quarter sales were up 15% when compared with first quarter sales; up 3% compared with the same period one year ago. The top ten carriers for the second quarter:  

Allianz Life  $ 1,407,000,000   ING 390,407,421 
Aviva 1,179,159,936   GAFRI 284,289,000
American Equity 604,461,799   Equitrust   222,677,033
OMFN 515,177,307   Conseco 197,878,903
Midland National  398,000,000   Jackson National 194,373,967

Top Selling 2nd Quarter Index Annuities  

1. Allianz MasterDex 10 5. American Investors Income Select Plus
2. American Equity Bonus Gold 6. American Investors Balance Plus Annuity 12
3. Allianz MasterDex 5 7. Great American American Valor II
4. Aviva MultiChoice Income Plus 8. ING Secure Opportunities Plus

Top 2nd Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Lincoln National AIG
American Equity  ING ING

Averages
The average index annuity sales premium reported was $45,808; average premium ranged from $10,907 to $75,015. The index annuity commission received by the agent averaged 8.07% of premium. Average weighted commission paid by carriers ranged from 3.45% to 10.76% of premium.   


1st Quarter 2007 Index Annuity Sales Drop
The Advantage Compendium Index Sales Market Report shows first quarter 2007 index annuity sales were $5734 million compared with sales of $5985 million for the previous quarter. First quarter sales were down 4% when compared with fourth quarter sales; down 9% compared with the same period one year ago. The top ten carriers for the first quarter: 

Allianz Life   $1,256,508,000   ING 354,368,060
Aviva 925,319,812   GAFRI 239,234,000
OMFN Financial 534,677,607   Equitrust  221,517,475
American Equity 430,760,698   Jackson National Life 199,007,527
Midland National Life  371,700,000   Conseco 196,623,583

Top Selling 1st Quarter Index Annuities  

1. Allianz MasterDex 10 5. American Investors Income Select Plus
2. American Equity Bonus Gold 6. ING Secure Opportunities Plus
3. Allianz MasterDex 5 7. EquiTrust MarketPower Bonus Index Plus
4. Aviva MultiChoice Income Plus 8. Great American American Valor II

Top 1st Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Lincoln National ING
Old Mutual  ING American National

Averages
The average index annuity sales premium reported was $49,211; average premium ranged from $13,814 to $85,579. Average weighted commission paid by carriers ranged from 3.00% to 11.00% of premium.  


4th Quarter 2006 Index Annuity Sales Decline
The Advantage Compendium Index Sales & Market Report shows fourth quarter 2006 index annuity sales were $5985 million compared with sales of $6501 million for the previous quarter. Fourth quarter sales were down 9% when compared with third quarter sales; down 8% compared with the same period one year ago. The Advantage Index Sales & Market Report shows fourth quarter 2006 index annuity sales were $5985 million compared with sales of $6501 million for the previous quarter. Fourth quarter sales were down 9% when compared with third quarter sales; down 8% compared with the same period one year ago. Total Sales for 2006 were $25.3 billion.

The main reason for the dip in sales were very competitive bank interest rates. A guaranteed 5.5% 1 year walk-away CD rate looks pretty good against the uncertainty of an index-annuity rate that might be zero, and would at best be 2% to 3% higher. I’ve tracked CD rates and fixed annuity sales for two decades and every time CDs have gone up, fixed annuity sales have either flattened or fallen.However, the NASD’s 05-50 anti-annuity notice did harm sales for a few carriers that failed to get on broker/dealer approved product lists. Most noticeable was the decline in Allianz sales from $8.8 billion in 2005 to $6.7 billion in 2006. 2005 ended with 46 carriers selling index annuities and 2007 begins with 58 index companies active in the market. Although 2006 was troubled, I estimate there are $109 billion of in-force index annuity policies on the books.

The top ten carriers for the quarter were:

Allianz 1,173,048,000   American Equity 405.760.605
Aviva 752,537,284   GAFRI 311,312,000
OMFN 564,438,357   Equitrust 253,893,334
ING 488,905,141   Jefferson-Pilot 238,628,030
Midland National 423,600,000   Jackson National 212,600,408

Top Selling 4th Quarter Index Annuities  

1. Allianz MasterDex 10 5. Great American American Valor II
2. American Equity Bonus Gold 6. Aviva MultiChoice Income Plus
3. Allianz MasterDex 5 7. EquiTrust MarketPower Bonus Index Plus
4. ING Secure Opportunities Plus 8.OMFN Spectrum Rewards Choice 9

Top 4th Quarter Carriers By Channel

Agency   Bank Independent B/Ds  
Allianz   Jackson National Jackson National
Aviva   Lincoln National ING
Old Mutual  ING American National

Averages
The average index annuity sales premium reported was $50,372; average premium ranged from $11,257 to $82,150.
The index annuity commission received by the agent averaged 7.93% of premium. Average weighted commission paid by carriers ranged from 3.46% to 10.81% of premium.


3rd Quarter 2006 Index Annuity Sales Flat  
The Advantage Compendium Index Sales & Market Report shows third quarter 2006 index annuity sales were $6501 million compared with sales of $6444 million for the previous quarter. Third quarter sales were up 1% when compared with 2nd quarter sales; down 7% compared with the same period one year ago. The top ten carriers for the third quarter:

Allianz Life $ 1,699,409,470   American Equity 345,856,904
AmerUs Group 637,030,914   Equitrust 259,633,788
Midland National Life 624,300,000   Jackson National Life 253,381,034
ING 547,030,899   Jefferson-Pilot 239,220,270
Old Mutual  520,828,000   Great American 229,372,000

Top Selling 3rd Quarter Index Annuities  

1. Allianz MasterDex 10 5. EquiTrust MarketPower Bonus Index Plus
2. Allianz MasterDex 5 6. OMFN Spectrum Rewards Choice 9
3. ING Secure Opportunities Plus 7. Midland National Veridian Plus
4. American Equity Bonus Gold 8. Great American American Valor II

Top 3rd Quarter Carriers By Channel  

Agency Bank Broker/Dealer
Allianz Jackson National Jackson National
AmerUs Jefferson-Pilot AIG
Old Mutual CUNA RBC
 

Averages
The average
index annuity sales premium reported was $49,651; average premium ranged from $14,785 to $82,142. The index annuity commission received by the agent averaged 8.13% of premium. Average weighted commission paid by carriers ranged from 3.14% to 11.74% of premium.


2nd Quarter 2006 Index Annuity Sales Flat  
The
Advantage Index Sales & Market Report shows second quarter 2006 index annuity sales were $6373 million compared with sales of $6332 million for the previous quarter. Second quarter sales were up 0.6% when compared with first quarter sales; down 14.2% compared with the same period one year ago. S ales for the first six months of the year were $12705 million. T
he top ten carriers for the second quarter:  

Allianz Life $ 1,584,683,000   American Equity  495,897,005
ING 693,028,789   Jackson National Life 269,449,884
AmerUs Group 581,916,574   EquiTrust  254,876,952
Old Mutual  566,302,420   Jefferson-Pilot  224,459,114
Midland National Life 506,200,000   Sun Life 190,841,007

Top Selling 2nd Quarter Index Annuities  

1. Allianz MasterDex 10 5. ING Secure Index 7
2. Allianz MasterDex 5 6. Sun Life MultiPoint
3. American Equity Bonus Gold 7. Midland National Veridian Plus
4. ING Secure Opportunities Plus 8. OMFN Spectrum Rewards Choice 9

Top 2nd Quarter Carriers By Channel  

Agency Bank Broker/Dealer
Allianz Jackson National Jackson National
ING Jefferson-Pilot Sun Life
Old Mutual ING ING

Averages   
The average index annuity sales premium reported was $47,662; average premium ranged from $14,292 to $83,148. The index annuity commission received by the agent averaged 8.08% of premium. Average weighted commission paid by carriers ranged from 3.28% to 11.29% of premium


1st Quarter 2006 Index Annuity Sales Dip 
The
Advantage Compendium Index Sales & Market Report shows first quarter 2006 index annuity sales were $6304 million compared with sales of $6493 million for the previous quarter. First quarter sales were down 3% when compared with fourth quarter sales; down 2% compared with the same period one year ago.   The top ten carriers for the first quarter:  

Allianz Life    $ 2,224,265,000   Old Mutual  428,060,000
ING  574,283,981   EquiTrust 232,986,638
American Equity   539,743,693   Sun Life   217,082,954
AmerUs Group   479,885,499   Jackson National Life  212,465,868
Midland National Life   449,000,000   Jefferson-Pilot  169,501,766

Top Selling 1st Quarter Index Annuities  

1. Allianz MasterDex 10 5. Sun Life MultiPoint
2. Allianz MasterDex 5 6. Jackson National Life Elite Annual Reset
3. American Equity Bonus Gold 7. ING Secure Index
4. ING Secure Opportunities Plus 8. EquiTrust MarketPower Bonus

Top 1st Quarter Carriers By Channel  

Agency Bank Broker/Dealer
Allianz Jackson National Jackson National
American Equity ING Jefferson-Pilot
ING Jefferson-Pilot Sun Life

Averages   
The average index annuity sales premium reported was $49,579; average premium ranged from $12,066 to $77,000. The index annuity commission received by the agent averaged 8.26% of premium. Average weighted commission paid by carriers ranged from 3.80% to 11.33% of premium.  


4th Quarter 2005 Index Annuity Sales Slip, But Year Sets Record 
The Advantage Compendium Index Sales & Market Report shows fourth quarter 2005 index annuity sales were $6493 million compared with sales of $6895 million for the previous quarter. Fourth quarter sales were down 6% when compared with third quarter sales; down 4% compared with the same period one year ago. Index annuity sales of $27.26 billion set a record for the eleventh consecutive year. The top ten carriers for the fourth quarter:  

Allianz Life    $ 1,863,884,000   Midland National Life  339,400,000
American Equity 686,946,000   Jackson National Life 249,755,566
AmerUs Group    614,541,312   EquiTrust  218,525,583
Old Mutual 527,363,323   Sun Life   209,612,193
ING  513,622,570   Allstate Financial  186,700,000

Top Selling 4th Quarter Index Annuities  

1. Allianz MasterDex  5. Sun Life MultiPoint
2. American Equity Bonus Gold 6. Old Mutual Loyalty Rewards Escalator
3. Jackson National Life Elite Annual Reset 7. EquiTrust MarketPower Bonus
4. ING Secure Index 8. Allianz PremierDex

Top 4th Quarter Carriers By Channel  

Agency Bank Broker/Dealer
Allianz Jackson National Jackson National
Aviva Jefferson-Pilot AIG
Old Mutual CUNA RBC

Averages   
The
average index annuity sales premium reported was $49,758; average premium ranged from $12,066 to $112,790.  The average fixed annuity premium was $40,600; average premium ranged from $3,455 to $73,809. The index annuity commission received by the agent averaged 8.12% of premium.  Average weighted commission paid by carriers ranged from 3.57% to 10.35% of premium.


3rd Quarter 2005 Index Annuity Sales Slide   
The Advantage Compendium Index Sales & Market Report shows third quarter 2005 index annuity sales were $6895 million compared with sales of $7426 million for the previous quarter. Third quarter sales were down 7% when compared with second quarter sales; down 2% compared with the same period one year ago.

The top ten carriers for the third quarter:

Allianz Life  $2,171,020,000   Midland National Life 312,800,000
American Equity  678,417,172   Jackson National Life  294,668,118
Old Mutual  670,114,743   Sun (Keyport) Life  235,830,535
AmerUs Group 632,471,000   EquiTrust  206,216,215
ING 528,274,045   Jefferson-Pilot  193,054,231

Top Selling 3rd Quarter Index Annuities  

1. Allianz MasterDex  5. Sun Life MultiPoint
2. American Equity Bonus Gold 6. Old Mutual Spectrum Choice
3. ING Secure Index 7. EquiTrust MarketPower Bonus
4. Jackson National Life Elite Annual Reset 8. American Equity Future Gold

Averages   
The average index annuity sales premium reported was $50,585; average premium ranged from $14,693 to $76,610. The average fixed annuity premium was $41,157; average premium ranged from $7,160 to $77,1
07. 


Record 2nd Quarter 2005 Index Annuity Sales 
The Advantage Compendium Index Sales & Market Report shows sales for the second quarter of 2005 were a record $7426 million compared with sales of $6427 million for the first quarter of 2005. Second quarter index sales were up 15.6% when compared with first quarter index sales; up 40.5% when compared with the same period one year ago. 

Allianz Life  $2,487,963,000   Jackson National Life  282,220,832
American Equity 687,982,155   Midland National Life  280,600,000
Old Mutual  643,160,884   Sun (Keyport) Life  256,288,964
AmerUs Group  642,488,124   Jefferson-Pilot  214,230,824
ING 622,336,982   EquiTrust  210,225,266

Top Selling 2nd Quarter Index Annuities  

1. Allianz MasterDex  5. Sun Life MultiPoint
2. ING Secure 6. Old Mutual Spectrum Rewards
3. American Equity Bonus Gold 7. Old Mutual Spectrum Rewards Choice
4. Jackson National Life Elite Annual Reset 8. Allianz PremierDex

Averages   
The average index annuity sales premium reported was $43,527; average premium ranged from $10,054 to $62,754.  The average fixed annuity premium was $38,437; average premium ranged from $5,040 to $65,000. 


1st Quarter 2005 Index Annuity Sales Dip 
The Advantage Compendium Index Sales & Market Report shows first quarter sales of $6427 million. Index sales were off 5% from the previous quarter and represented the second quarterly decline in a row. First quarter sales were up 53% from the same period a year ago. Over half of the carriers reported declines. Allianz continues domination of the market with a 35% market share. To put that in perspective, Allianz sales equal those of the smallest 29 carriers in a market of 35 companies. Sales of the top three carriers continues to account for over half of all sales and the top ten make up 85% of sales.

Annual reset designs dominate representing roughly nine out of every ten sales, and insurance agents continue to be the catalyst behind nineteen out of every twenty annuities sold. The top ten carriers for the first quarter:

Allianz Life $ 2,269,369,000   Sun Life  301,170,478
American Equity 620,261,954   Midland National Life 279,100,000
Old Mutual  542,178,794   Jackson National Life  211,180,214
AmerUs Group  502,485,000   Jefferson-Pilot  192,093,000
ING 370,027,789   Allstate Financial 176,247,296

Top Selling 1st Quarter Index Annuities  

1. Allianz MasterDex  5. American Equity Bonus Gold
2. Sun Life MultiPoint 6. American Equity Future Gold
3. ING Secure 7. Jackson National Life Elite Annual Reset
4. AmerUs MCA Bonus 8. Allianz PowerDex

Averages   
The average index annuity sales premium reported was $44,866; average premium ranged from $14,367 to $66,000.  The average fixed annuity premium was $38,161; average premium ranged from $5,465 to $65,250. The index annuity commission received by the agent averaged 8.17% of premium.  Average weighted commission paid by carriers ranged from 4.00% to 12.18% of premium.


4th Quarter 2004 Index Annuity Sales Soar 
Sales for the fourth quarter of 2004 were $6782 million compared with sales of $7028 million for the third quarter of 2004. Fourth quarter index sales were down 3.5% when compared with third quarter index sales; up 83% when compared with the same period one year ago. 

Allianz Life  $2,458,283,000   Sun Life 358,901,342
American Equity   542,739,688   Midland National Life 282,300,000
AmerUs Group 522,186,000   Jackson National Life 275,160,000
Old Mutual 496,564,246   Jefferson-Pilot 247,309,708
ING 400,067,785   Lincoln Benefit Life 191,272,942

Top Selling 4th Quarter Index Annuities  

1. Allianz MasterDex  5. AmerUs MCA Bonus
2. Sun Life MultiPoint 6. Jackson National Life Elite Annual Reset
3. ING Secure 7. American Equity Future Gold
4. Allianz PowerDex 8. American Equity Bonus Gold

Averages   
The average index annuity sales premium reported was $45,301; average premium ranged from $13,008 to $64,678.  The average fixed annuity premium was $39,304; average premium ranged from $4,261 to $69,000. The index annuity commission received by the agent averaged 8.33% of premium.  Average weighted commission paid by carriers ranged from 4.00% to 11.50% of premium.


3rd Quarter 2004 Index Annuity Sales Skyrocket 
Sales for the third quarter of 2004 were $7028 million compared with sales of $5278 million for the second quarter of 2004. Third quarter index sales were up 119% when compared with the same period the same period one year ago. 

 

Allianz Life  $2,999,560,000   AmerUs Group 358,231,000
Old Mutual 577,137,881   Midland National Life 260,400,000
Sun Life 436,958,000   Jefferson-Pilot 250,004,301
American Equity 378,892,526   Jackson National Life 206,995,203
ING 367,691,027   EquiTrust 152,607,443

Top Selling 3rd Quarter Index Annuities  

1. Allianz MasterDex  5. American Equity Premier Gold
2. Allianz PowerDex Elite 6. Old Mutual Spectrum Rewards Bonus
3. Sun Life MultiPoint 7. EquiTrust MarketPower Bonus
4. ING Secure 8. Jackson National Life Elite Annual Reset

Averages   
The average index annuity sales premium reported was $
2,793; average premium ranged from $21,441 to $65,817.  The average fixed annuity premium was $43,640; average premium ranged from $6,161 to $172,000. The index annuity commission received by the agent averaged 8.31% of premium.  Average weighted commission paid by carriers ranged from 4.00% to 11.83% of premium.


2nd Quarter 2004 Index Annuity Sales Skyrocket 
Sales for the second quarter of 2004 were $5278 million compared with sales of $4186 million for the first quarter of 2004. Second quarter index sales were up 26% when compared with first quarter index sales; up 42% when compared with the same period one year ago.  

 

Allianz Life  $2,999,560,000   AmerUs Group 358,231,000
Old Mutual 577,137,881   Midland National Life 260,400,000
Sun Life 436,958,000   Jefferson-Pilot 250,004,301
American Equity 378,892,526   Jackson National Life 206,995,203
ING 367,691,027   EquiTrust 152,607,443

Top Selling 2nd Quarter Index Annuities  

1. Allianz PowerDex Elite 5. ING Secure Index
2. Sun Life MultiPoint 6. Fidelity & Guaranty Loyalty Rewards 
3. American Equity Premier Gold 7. Fidelity & Guaranty Spectrum Rewards Bonus
4. Allianz BonusDex Elite 8. American Equity Future Gold

Averages   
The average index annuity sales premium reported was $42,138; average premium ranged from $14,121 to $67,000.  The average fixed annuity premium was $37,240; average premium ranged from $4,908 to $56,227. The index annuity commission received by the agent averaged 7.81% of premium.  Average weighted commission paid by carriers ranged from 4.00% to 11.00% of premium.


1st Quarter 2004 Index Annuity Sales Soar 
Sales for the first quarter of 2004 were $4186 million compared with sales of $3249 million for the first quarter of 2004. First quarter index sales were up 12% when compared with fourth quarter index sales; up 29% when compared with the same period one year ago. 

 

Allianz Life  $1,064,280,000   American Equity   264,145,579
Fidelity & Guaranty  454,823,013   Jefferson-Pilot 241,536,406
Sun Life 332,485,000   Midland National Life 217,200,000
AmerUs Group 295,789,000   National Western 157,068,000
ING 266,034,758   Investors Insurance 156,629,683

Top Selling 1st Quarter Index Annuities  

1. Allianz PowerDex Elite 5. ING Secure
2. Allianz BonusDex Elite 6.