AABP EP Awards 728x90

Indexed annuity sales projected to top $60 billion in 2016

/wp-content/uploads/2022/11/BR_web_311x311.jpeg
 

Total third-quarter indexed annuity sales were $14.3 billion, down nearly 8 percent when compared with the previous quarter, but up more than 3 percent compared with the same period last year, according to figures from Pleasant Hill-based Wink Inc., which tracks the industry. Indexed annuity sales are on a record pace for 2016, said Sheryl Moore, president and CEO of Wink. She said she expects full-year U.S. sales to reach a record $60 billion. Among the top-selling companies, West Des Moines-based Athene USA moved up to the No. 2 spot, behind sales leader Allianz Life, which has a 17.1 percent market share. American Equity Investment Life Holding Co., also based in West Des Moines, was the third-leading indexed annuity seller nationally. Sales in the broader category of all nonvariable deferred annuities were $22.8 billion in the third quarter, down more than 12 percent from the prior quarter, and up nearly 0.5 percent from the same period a year prior.