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.