Third-quarter U.S. fixed annuity sales fell 21% to an estimated $21.9 billion, down from $27.7 billion in third quarter 2008 and second quarter 2009, according to Evanston, IL-based Beacon Research’s survey of fixed annuity providers. Book value products were the most popular fixed annuities sold, but their $9.9 billion in sales reflected a 30% drop from a year ago. In contrast, indexed annuity sales rose 6% to $7.3 billion to rank second. Market value adjusted (MVA) annuities ranked third but fell 37% to $2.7 billion, and fixed income annuities ranked fourth, declining 16% to $1.9 billion. Pacific Life was the number one issuer of book value annuities and the number one provider of fixed annuities to banks. Allianz led in indexed annuities; ING USA led in MVA sales, and New York Life continued to dominate in fixed income annuity sales, Beacon Research’s Fixed Annuity Premium Study shows. For more on the report, click.
Monday, December 14, 2009
OVERALL FIXED ANNUITY SALES DROP 21%
Third-quarter U.S. fixed annuity sales fell 21% to an estimated $21.9 billion, down from $27.7 billion in third quarter 2008 and second quarter 2009, according to Evanston, IL-based Beacon Research’s survey of fixed annuity providers. Book value products were the most popular fixed annuities sold, but their $9.9 billion in sales reflected a 30% drop from a year ago. In contrast, indexed annuity sales rose 6% to $7.3 billion to rank second. Market value adjusted (MVA) annuities ranked third but fell 37% to $2.7 billion, and fixed income annuities ranked fourth, declining 16% to $1.9 billion. Pacific Life was the number one issuer of book value annuities and the number one provider of fixed annuities to banks. Allianz led in indexed annuities; ING USA led in MVA sales, and New York Life continued to dominate in fixed income annuity sales, Beacon Research’s Fixed Annuity Premium Study shows. For more on the report, click.
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