ANNUITIES
IRI: Annuity sales up 17 %
from first quarter of 2018
By Emily Holbrook
According to Beacon Research, fixed annuity sales continue their long-term
upward trend, albeit with some product types showing lower sales versus the
fourth quarter of 2018. For instance:
“As private pensions
fade away, annuities are
helping retirees and near
retirees use their hard-
earned savings to create
steady, guaranteed,
lifetime income.”
Wayne Chopus
Insured Retirement Institute (IRI)
President and CEO
Fixed indexed
annuity sales Book value
annuity sales Market value adjusted
(MVA) annuity sales
At $18.1 billion — are off recent
highs but significantly higher than
this time last year. This is a 7.5%
decrease versus fourth quarter
2018 sales of $19.6 billion (a
record setting quarter) and 24%
higher than 2018 first quarter
sales of $14.6 billion. At $8.2 billion — fell 7.4% versus
$8.9 billion in the fourth quarter
of 2018. 2019 first quarter sales
were 64% higher than 2018 first
quarter sales of $5.0 billion. At $6.2 billion — were up 51.3%
in the first quarter, compared
to 2018 fourth quarter sales of
$4.1 billion. MVA sales increased
85.8% versus first quarter 2018
sales of $3.3 billion.
Though overall annuity sales
fell 3.6% in the first quarter of
2019, with combined sales of
fixed and variable annuities
of $57.8 billion as compared
to sales of $59.9 billion in the
fourth quarter of 2018*, sales
remain solidly above year ago
levels, up 17.5% from total
annuity sales of $49.2 billion
in the first quarter of 2018.
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The Pulse of the Industry
* Information provided by IRI, based on
data reported by Beacon Research and
Morningstar, Inc.
October 25, 2019
Bellagio Las Vegas
FLUCTUATIONS OVER THE YEAR
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Lombard International
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Total annuity sales Fixed annuity sales Variable annuity sales
$57.8 billion in industry-wide annuity
sales in the first quarter of 2019,
representing a 3.6% decrease from sales
of $59.9 billion in the fourth quarter of
2018. However, this is 17.5% higher than
first quarter 2018 sales of $49.2 billion. $37.1 billion in 2019 first quarter fixed
annuity sales, representing a 0.17%
increase from fourth quarter sales of
$37.0 billion. This is 40.9% higher than
2018 first quarter sales of $26.3 billion. $20.7 billion of 2019 first quarter variable
annuity sales. This is down 9.8% versus
2018 fourth quarter sales of $22.9 billion.
This is also 9.8% lower than 2018 first
quarter VA sales of $22.9 billion.
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24
Perspectives
Q3 2019
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