Fourth Quarter 2020 Annuity Sales

May 11, 2021 by Sheryl J. Moore

Deferred Annuity Sales

Total 4Q2020 deferred annuity sales were $56,314,918,093. Fourth quarter deferred annuity sales were up nearly 4% when compared to the previous quarter and were up nearly 6% when compared to the same period last year. Sales for 2020 were down nearly 6% when compared to the prior year.

Total 2020 deferred annuity sales were $209,147,263,328.

Non-Variable Deferred Annuity Sales

Sales for the fourth quarter of 2020 were $28,779,932,149. Fourth quarter non-variable deferred annuity sales were down nearly 7% when compared to the previous quarter, and up over 7% when compared to the same period last year. Non-variable deferred annuity sales were down nearly 8% from the prior year.

Total 2020 non-variable deferred annuity sales were $112,580,986,491.

Variable Deferred Annuity Sales

Total 4Q2020 variable deferred annuity sales were $27,534,985,944. Fourth quarter variable deferred annuity sales were up more than 18% when compared to the previous quarter, and up nearly 5% when compared to the same period last year. Variable deferred annuity sales were down more than 2% when compared to the prior year.

Total 2020 variable deferred annuity sales were $96,566,276,837.

Indexed Annuity
Sales for the fourth quarter of 2020 were $15,085 million, compared with sales of $17,163 million for the fourth quarter of 2019. Fourth quarter indexed annuity sales were up more than 9% when compared to the previous quarter, and down more than 12% when compared to the same period last year. Indexed annuity sales were down nearly 21% when compared to the prior year.

Total 4Q2020 indexed annuity sales were $15,085,236,011.

Total 2020 indexed annuity sales were $58,141,895,225.

THE TOP TEN INDEXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2020:

1. Athene USA
2. AIG
3. Sammons Financial Companies
4. Allianz Life
5. Fidelity & Guaranty Life
6. Global Atlantic Finaincal Group
7. SILAC Insurance Company
8. Security Benefit Life
9. Nationwide
10. American Equity Companies

AVERAGE COMMISSION:
The indexed annuity commission received by the agent averaged 5.58% of premium for the fourth quarter of 2020; a trend that is down nearly 1% from the prior quarter.

LEADERS BY CHANNEL:
Bank- AIG
Career- CNO Companies
Direct Response- N/A
Independent Agent- Athene USA
Independent Broker Dealer- Sammons Financial Companies
National Broker Dealer- AIG
Registered Investment Advisor- Great American Insurance Group

TOP SELLING PRODUCTS BY CHANNEL: 
Overall- Allianz Life Allianz Benefit Control Annuity
Bank- American General Power Index 5 Plus Annuity
Career- C.M. Life Index Horizons
Direct Response- N/A
Fee-Based Overall- American General Power Index Advisory IA
Independent Agent- Allianz Life Allianz Benefit Control Annuity
Independent Broker Dealer- Protective Life Protective Income Builder
National Broker Dealer- American General Power Index 5 Plus Annuity
Registered Investment Advisor- Great American Index Protector 5 MVA

Fixed Annuity
Sales for the fourth quarter of 2020 were $474 million, compared to sales of $691 million for the fourth quarter of 2019. Fourth quarter fixed annuity sales were down nearly 3% when compared to the previous quarter, and down over 31% when compared with the same period last year. Fixed annuity sales were down nearly 36% when compared to the prior year.

Total 4Q2020 fixed annuity sales were $474,138,980.

Total 2020 fixed annuity sales were $2,079,878,323.

THE TOP TEN FIXED ANNUITY CARRIERS FOR THE FOURTH QUARTER OF 2020:

1. Modern Woodmen of America
2. Global Atlantic Financial Group
3. Jackson National Life
4. EquiTrust
5. OneAmerica
6. American National
7. Brighthouse Financial
8. National Life Group
9. Kansas City Life
10. Great American Insurance Group

AVERAGE COMMISSION:
The fixed annuity commission received by the agent averaged 4.49% of premium for the fourth quarter of 2020; down slightly when compared to last quarter.

LEADERS BY CHANNEL:

Bank- OneAmerica
Career- Modern Woodmen of America
Direct Response- AIG
Independent Agent- EquiTrust
Independent Broker Dealer- Brighthouse Financial
National Broker Dealer- Global Atlantic Financial Group
Registered Investment Advisor- N/A

TOP SELLING PRODUCTS BY CHANNEL:
Overall- Forethought Life ForeCare Fixed Annuity
Bank- State Life Annuity Care II
Career- Kansas City Life Growth Track
Direct Response- N/A
Independent Agent- EquiTrust ChoiceFour with Liquidity Rider
Independent Broker Dealer- Forethought Life ForeCare Fixed Annuity
National Broker Dealer- Forethought Life ForeCare Fixed Annuity
Registered Investment Advisor- N/A

Multi-Year Guaranteed Annuity
Sales for the fourth quarter of 2020 were $13,220 million, compared with sales of $9,135 million for the fourth quarter of 2019. Fourth quarter MYGA sales were down nearly 21% when compared to the previous quarter, and up nearly 45% when compared to the same period last year. Multi-year guaranteed annuity sales were up nearly 13% when compared to the prior year.

Total 4Q2020 MYGA sales were $13,220,557,159.

Total 2020 MYGA sales were $52,359,212,942.

THE TOP TEN MYGA CARRIERS FOR THE Fourth QUARTER OF 2020:

1. New York Life
2. American Equity Companies
3. Brighthouse Financial
4. Western-Southern Life Assurance Company
5. AIG
6. Sammons Financial Companies
7. Global Atlantic Financial Group
8. Symetra Financial
9. Athene USA
10. Great American Insurance Group

AVERAGE COMMISSION:
The multi-year guaranteed annuity commission received by the agent averaged 2.20% of premium for the fourth quarter of 2020; an increase from last quarter.

LEADERS BY CHANNEL:
Bank-New York Life
Career- New York Life
Direct Response- Nassau Re
Independent Agent- American Equity Companies
Independent Broker Dealer- American Equity Companies
National Broker Dealer- New York Life
Registered Investment Advisor- N/A

TOP SELLING PRODUCTS BY CHANNEL:
Overall- Western-Southern Life SmartSelect 3-Year
Bank- Brighthouse Life Fixed Rate Annuity 3-Year
Career- Prudential Annuities Prudential Fixed Annuity with Daily Advantage Income Benefit
Direct Response- Nassau Life and Annuity Simple Annuity 4-Year
Fee-Based Overall- Security Benefit Life Advanced Choice Annuity 4-Year
Independent Agent- American Equity GuaranteeShield 3
Independent Broker Dealer- Eagle Life Eagle Guarantee Focus 3
National Broker Dealer- Western-Southern Life SmartSelect 3-Year
Registered Investment Advisor- N/A

Structured Annuity

Sales for the fourth quarter of 2020 were $8,415 million compared with sales of $4,926 million for the fourth quarter of 2019. Fourth quarter structured annuity sales were up nearly 35% when compared to the previous quarter, and up nearly  71% when compared to the same period last year. This was a record-setting quarter for structured annuity sales, topping the prior 3Q2020 record by nearly 35%. This was also a record-setting year for structured annuity sales, topping the previous 2020 record by more than 38%.

Total 4Q2020 structured annuity sales were $8,415,020,480.

Total 2020 structured annuity sales were $24,067,591,265.

THE TOP STRUCTURED ANNUITY CARRIER FOR THE FOURTH QUARTER OF 2020:

1. Allianz Life
2. Equitable Financial
3. Lincoln National Life
4. Brighthouse Financial
5. Prudential
6. RiverSource Life
7. CUNA Mutual Life
8. Athene USA
9. Symetra Financial
10. Great American Insurance Group

LEADERS BY CHANNEL:
Bank- Equitable Financial
Career- Equitable Finanical
Direct Response- N/A
Independent Broker Dealer- Allianz Life
National Broker Dealer- Allianz Life
Registered Investment Advisor- Lincoln National Life

TOP SELLING PRODUCTS BY CHANNEL: 
Overall- Pruco Life Prudential FlexGuard Indexed VA
Bank-  Equitable Financial Structured Capital Strategies Plus
Career- RiverSource Life Structured Solutions 6-Year
Direct Response- N/A
Fee-Based Overall- Lincoln National Life Lincoln Level Advantage Advisory
Independent Broker Dealer- Lincoln National Life Lincoln Level Advantage B Share
National Broker Dealer- Allianz Life Allianz Index Advantage
Registered Investment Advisor- Lincoln National Life Lincoln Level Advantage Advisory

Variable Annuity

Sales for the fourth quarter of 2020 were $19,119 million, compared with sales of $21,416 million for the fourth quarter of 2019. Fourth quarter variable annuity sales were up more than 12% when compared to the previous quarter, and down nearly 11% when compared to the same period last year. Variable annuity sales were down more than 11% when compared to the prior year.

Total 4Q2020 variable annuity sales were $19,119,965,464.

Total 2020 variable annuity sales were $72,498,685,573.

THE TOP TEN Variable CARRIERS FOR THE Fourth QUARTER OF 2020:

1. Jackson National Life
2. Nationwide
3. Equitable Financial
4. New York Life
5. Lincoln National Life
6. AIG
7. Pacific Life Companies
8. RiverSource Life
9. Thrivent Financial
10. Transamerica

LEADERS BY CHANNEL:
Bank- Jackson National Life
Career- Equitable Financial
Direct Response- Fidelity Investments
Independent Broker Dealer- Jackson National Life
National Broker Dealer- Jackson National Life
Registered Investment Advisor- Transamerica

TOP SELLING PRODUCTS BY CHANNEL: 
Overall- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Bank- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Career- Equitable Financial Equi-Vest
Direct Response- Fidelity Fidelity Personal Retirement Annuity
Fee-Based Overall- Fidelity Fidelity Personal Retirement Annuity
Independent Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
National Broker Dealer- Jackson National Perspective II Flexible Premium Variable & Fixed Deferred Annuity
Registered Investment Advisor- Pacific Life Pacific Odyssey VA

Wink anticipates compiling first quarter, 2021’s sales with a release date of June 2021.