Who Is Selling the Most Indexed Annuities?
The second quarter numbers are in and Sheryl J. Moore has compiled a list of the best in the indexed industry. According to Insurance Networking News’ Carrie Burns, the “Top 10 Q2 Indexed Annuity and Life Insurance Carriers” have been released in a new report. Annuity Specs’ 60th “Indexed Sales & Market Report” accounts for the production of 99% of all of these indexed products. Moore, the author of the report, is the CEO and President of Moore Market Intelligence. Indexed annuity sales increased 8% from the first quarter of this year to the second quarter, for a total of $8.7 billion. Indexed life insurance sales went up 19% to $303 million.
Allianz Life Insurance Company took the top spot in fixed equity indexed annuity sales for the second quarter. Aviva, American Equity, Security Benefit Life, and GAFRI rounded out the top five. Some companies were a bit of a surprise in this top 10 list, while others were expected and typically have the highest indexed annuity sales. The remaining companies in the top 10 were Fidelity & Guaranty Life, Midland National Life, Jackson National Life, Lincoln National Life, and North American Company for Life & Health.
Some of the same companies made the list of the top 10 indexed life insurance sellers in the second quarter. At the top of that list was Aviva, followed by AXA Equitable and Pacific Life Companies. The next highest sellers of indexed life insurance were AEGON Companies, National Life Group, National Western Life, and Allianz Life. Finishing out the top 10 list were Penn Mutual, Minnesota Life and American General Life Companies. Based on the growth that we have consistently seen in the indexed annuity and indexed life markets, it is likely that the products will remain strong this year and into the future.