Total 2024 annuity sales raced to another record, according to Wink’s Sales & Market Report, even if the industry did close the year on a down note.
Total fourth-quarter sales for all annuities were $100.2 billion, down 13% compared to the previous quarter. Total 2024 sales for all annuities were $427.7 billion.
All annuities include the multi-year guaranteed (MYG) annuity, traditional fixed annuity, indexed annuity, structured annuity, variable annuity, immediate income (SPIA), and deferred income annuity product lines.
Noteworthy highlights for all annuity sales in the fourth quarter include Athene USA ranking as the No. 1 carrier overall for annuity sales, with a market share of 8%. Equitable Financial came in second place, while Allianz Life, New York Life, and Corebridge Financial completed the top five carriers in the market, respectively.
Total fourth-quarter sales for all deferred annuities were $96.6 billion, down 12.8% when compared to the previous quarter and down 6.7% when compared to the same period last year.
Total 2024 sales for all deferred annuities were $412.8 billion and increased 18.8% from the previous year. All deferred annuities include the multi-year guaranteed annuity, traditional fixed, indexed annuity, structured annuity, and variable annuity product lines.
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 8.3%. Equitable Financial moved in the second-ranked position, while Allianz Life, Corebridge Financial, and Massachusetts Mutual Life Companies completed the top five carriers in the market, respectively.
Equitable’s Structured Capital Strategies Plus 21, a structured annuity, was the No. 1 selling deferred annuity, for all channels combined, in overall sales for the quarter.
Total fourth-quarter non-variable deferred annuity sales were $61.6 billion, down 22.7% compared to the previous quarter and down 22.5% compared to the same period last year. Total 2024 non-variable deferred annuity sales were $288.5 billion and increased 13.8% from the previous year. Non-variable deferred annuities include the MYG annuity, traditional fixed annuity, and indexed annuity 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 12.4%. Corebridge Financial continued in the second-ranked position, while Massachusetts Mutual Life Companies, Sammons Financial Companies, and Allianz Life completed the top five carriers in the market, respectively.
Massachusetts Mutual Life’s Stable Voyage 3-Year, a MYG annuity, was the No. 1 selling non-variable deferred annuity for the quarter, for all channels combined, in overall sales for the third consecutive quarter.