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March 6, 2024 Top Stories No comments
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ANNUITY SALES SET MORE RECORDS IN Q4, BREAK $100B, WINK REPORTS


Wink reports record Q4 annuity sales.

By John Hilton



Annuity sales smashed through the $100 billion barrier in the fourth quarter,
Wink, Inc. reported today, setting more records along the way.

Total Q4 sales for all deferred annuities were $105.4 billion, up 33.1% compared
to the previous quarter and up 32.9% compared to the same period last year. All
deferred annuities include the variable annuity, structured annuity, indexed
annuity, traditional fixed annuity, and multi-year guaranteed annuity (MYGA)
product lines.



Experts predict that 2024 annuity sales could be even better.



Noteworthy highlights for all deferred annuity sales in the fourth quarter
include Athene USA ranking as the No. 1 carrier overall for deferred annuity
sales, with a market share of 12.9%. Massachusetts Mutual Life Companies held
second place, while Lincoln National Life, Corebridge Financial, and Equitable
Financial rounded out the top five carriers in the market, respectively.

Massachusetts Mutual Life Stable Voyage 3-Year, a MYGA, was the No. 1 selling
deferred annuity, for all channels combined, in overall sales for the second
consecutive quarter.

 

Courtesy of Wink, Inc.

Total fourth-quarter, non-variable deferred annuity sales were $81.3 billion, up
48.4% when compared to the previous quarter and up 40.5% compared to the same
period last year. Non-variable deferred annuities include the indexed annuity,
traditional fixed annuity, and MYGA product lines.



Noteworthy highlights for non-variable deferred annuity sales in the fourth
quarter include Athene USA ranking as the No. 1 carrier overall for non-variable
deferred annuity sales, with a market share of 16.5%. Massachusetts Mutual Life
Companies held onto second place while Corebridge Financial, Lincoln National
Life, and Global Atlantic Financial Group completed the top five carriers in the
market, respectively.

Massachusetts Mutual Life Stable Voyage 3-Year was the No. 1 selling
non-variable deferred annuity for the quarter, for all channels combined, in
overall sales for the second consecutive quarter.


Courtesy of Wink, Inc.

Total fourth-quarter, variable deferred annuity sales were $24.1 billion, down
1.2% when compared to the previous quarter and up 12.3% when compared to the
same period last year. Variable deferred annuities include structured annuity
and variable annuity product lines.

Noteworthy highlights for variable deferred annuity sales in the fourth quarter
include Equitable Financial ranking as the No. 1 carrier overall for variable
deferred annuity sales, with a market share of 20.1%. Jackson National Life
continued in the second-place position, as Lincoln National Life, Brighthouse
Financial, and Allianz Life concluded the top five carriers in the market,
respectively.

Jackson National’s Perspective II Flexible Premium Variable & Fixed Deferred
Annuity, a variable annuity, was the No. 1 selling variable deferred annuity,
for all channels combined, in overall sales for the quarter.

Courtesy of Wink, Inc.

Indexed annuity sales for the fourth quarter were $27.9 billion, up 19.8% when
compared to the previous quarter, and up 29.1% when compared with the same
period last year. Indexed annuities have a floor of no less than zero percent
and limited excess interest that is determined by the performance of an external
index, such as Standard and Poor’s 500.

It was a record-setting quarter for indexed annuity sales, topping the Q2 2023
record by 11.1%. This was also a record-setting year for indexed annuity sales,
topping the prior 2022 record by 25.5%.

Noteworthy highlights for indexed annuities in the fourth quarter include Athene
USA ranking as the No. 1 seller of indexed annuities, with a market share of
11.4%. Allianz Life moved into the second-ranked position, while Lincoln
National Life, American Equity Companies, and Sammons Financial Companies
rounded-out the top five carriers in the market, respectively. American Equity’s
IncomeShield 10 was the No. 1 selling indexed annuity, for all channels
combined, for the quarter.

“Indexed annuities have now sold over a trillion dollars, since their
introduction in 1995," said Sheryl Moore, CEO of Wink, Inc.

Courtesy of Wink, Inc.

Traditional fixed annuity sales in the fourth quarter were $730.6 million, up
47.3% when compared to the previous quarter, and up 26.9% when compared with the
same period last year. Traditional fixed annuities have a fixed rate that is
guaranteed for one year only.

Noteworthy highlights for traditional fixed annuities in the fourth quarter
include Nationwide ranking as the No. 1 carrier in fixed annuities, with a
market share of 28.4%. Global Atlantic Financial Group ranked second while
Modern Woodman of America, EquiTrust, and CNO Companies completed the top five
carriers in the market, respectively.

Forethought Life’s ForeCare Fixed Annuity was the No. 1 selling fixed annuity,
for all channels combined, for the fourteenth consecutive quarter.

Courtesy of Wink, Inc.

Multi-year guaranteed annuity (MYGA) sales in the fourth quarter were $52.6
billion, up 70% when compared to the previous quarter, and 47.7% when compared
to the same period last year. MYGAs have a fixed rate that is guaranteed for
more than one year. This was a record-setting quarter for MYGA sales, topping
the Q4 2022 record by 47.7%. This was also a record-setting year for MYGAs,
topping the 2022 record by 48.3%.

Noteworthy highlights for MYGAs in the fourth quarter include Athene USA ranking
as the No. 1 carrier, with a market share of 19.4%. Massachusetts Mutual Life
Companies moved into the second-ranked position, while Corebridge Financial,
Global Atlantic Financial Group, and New York Life rounded out the top five
carriers in the market, respectively.

Massachusetts Mutual Life’s Stable Voyage 3-Year product was the No. 1 selling
multi-year guaranteed annuity, for all channels combined, for the second
consecutive quarter.

“It’s no surprise to see MYGA sales hitting records," Moore said. "When
five-year MYGAs are crediting upward of 6%, and CDs are crediting 1.72%,
consumers are going to choose the MYGA every time."

Courtesy of Wink, Inc.

Structured annuity sales in the fourth quarter were $12.4 billion, up 3.2%
compared to the previous quarter, and up 32.9% compared to the same period last
year. Structured annuities have a limited negative floor and limited excess
interest that is determined by the performance of an external index or
subaccounts.

It was a record-setting quarter for structured annuity sales, topping the Q3
2023 record by over 3.2%. This was also a record-setting year for structured
annuity sales, topping the 2022 record by 13.8%.

Noteworthy highlights for structured annuities in the fourth quarter include
Equitable Financial ranking as the No. 1 carrier in structured annuity sales,
with a market share of 25.2%. Allianz Life ranked second, while Brighthouse
Financial, Prudential and Jackson National Life completed the top five carriers
in the market, respectively. Pruco Life’s Prudential FlexGuard Indexed Variable
Annuity was the No. 1 selling structured annuity, for all channels combined, for
the quarter.

"Structured annuity sales hit a record this quarter,” Moore said. “But what is
more significant is the fact that structured annuity sales eclipsed variable
annuity sales for the first time.”

Courtesy of Wink, Inc.

Variable annuity sales in the fourth quarter were $11.6 billion, down 5.6%
compared to the previous quarter, and down 3.7% compared to the same period last
year. Variable annuities have no floor, and the potential for gains/losses is
determined by the performance of the subaccounts that may be invested in an
external index, stocks, bonds, commodities, or other investments.

Noteworthy highlights for variable annuities in the fourth quarter include
Jackson National Life ranking as the No. 1 carrier in variable annuities, with a
market share of 18.4%. Equitable Financial ranked second, while New York Life,
Lincoln National Life, and Nationwide finished out as the top five carriers in
the market, respectively.

Jackson National’s Perspective II Flexible Premium Variable & Fixed Deferred
Annuity was the No. 1 selling variable annuity for the nineteenth consecutive
quarter, for all channels combined.

Courtesy of Wink, Inc.

Wink reports sales on indexed annuity, fixed annuity, multi-year guaranteed
annuity, structured annuity, variable annuity, and multiple life insurance
product lines. Sales reporting on single-premium immediate annuity, deferred
income annuity, and additional life insurance product lines will be available
starting in the Q1 2024 report, Wink said.


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