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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.

American Equity

This is the year of the indexed annuity

Posted by RJ and Makay on Aug 16, 2010

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“This is definitely the year Piggy Bank of the indexed annuity!” said Sheryl J. Moore, President and CEO of AnnuitySpecs.com. The 52^nd edition of AnnuitySpecs.com’s Indexed Sales and Market Report showcases the news. Forty-three indexed annuity carriers participated in this year’s report, which represents 99% of indexed annuity production.

Total second quarter sales were $8.3 billion, down 0.1% from the same period last year. Compared to the previous quarter, sales were up over 22.8%. Moore maintains that with CD rates being at 1% and fixed annuities crediting a 3.65% on average, it is no surprise that this was the second-highest quarter for indexed annuity sales. As for the carriers, Allianz Life continues to be number one in the market, with a 19% market share. Maintaining second place is Aviva, with American Equity, Lincoln National and North American Company following, respectively. Allianz Life has the number one selling indexed annuity for the fifth straight quarter: MasterDex X.