RJ and Makay

Analysts at Conning Research and Consulting say the property casualty insurance industry can expect premium growth of between 3 and 4 percent in 2011, and about 5 percent for the following two years.

Through 2013, premium growth rates for the industry will be “well short of what would be considered a meaningful turn in the underwriting cycle,” says Stephan Christiansen, director of research at Conning.

“This is definitely the year 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.