Posted by (American Life Insurance Guide 12/01/2023 News)The U.S. annuity insurance market data and brand rankings for the third quarter of 2023 are released by Wink®️. The following is the specific data report.
1. Ranking of Index Annuity Insurance
Exponential annuity(Indexed Annuity) in Q2023 3Total premiums were US$233 billion, down 7% from the previous quarter., compared with the same period last year$ 209 billionThat’s an increase of nearly 11%, as shown in the chart below.
Index annuityThe account provides a guaranteed positive annual rate of return, usually no less than 0%, and aCapped earnings cap.
In terms of brand share, Athene USA Insurance Company continued to rank first in the index annuity insurance market, occupying 11.4% of the market. American Equity moves into the No. 2 position, Allianz Life Insurance(Allianz) and the renamed CorebridgeAIG American International GroupThe market share is gradually catching up, ranking 3nd and 4rd.
Allianz Life Insurance Company’s products:Benefit Control Annuity(Product Evaluation) ranked first in sales for 5 consecutive quarters.
Index annuity insurance ranking Top5
#1 Athene USA / Athene Insurance
#2 American Equity
#3 Allianz / Allianz Life Insurance
#4 CoreBridge (AIG) / American International Group
#5 Sammons Financial( North American/MidLand )
🏆Quarterly Champion IndexAnnuity insurance products
🏆Allianz Life – Allianz Benefit Control Annuity(Product Evaluation）
2. Guaranteed interest rate annuity insurance ranking – MYGA
It has been compared to "multi-year high-interest fixed deposit" and "super fixed deposit" MYGA annuity insurance account, also known as savings annuity insurance.
Savings annuity insurance in the third quarter of 2023, deposited into the accountTotal premiums were $309 billion, up nearly 1.6% year-over-year.This type of annuity account provides a guaranteed interest rate and is guaranteed for 1 to 10 years.
The following is the premium trend chart for applying to open a MYGA savings annuity account:
In terms of brand share, MassMutual occupied 15.9% of the savings annuity insurance market this quarter, ranking first in the rankings. Athene, GA, CoreBridge (formerly AIG) and New York Life ranked second to fifth respectively.
Top 3 savings annuity insurance brands
#1 MassMutual / Wantong Life
#2 Athene USA / Athene Insurance
#4 Global Atlantic/ Global Atlantic Financial Group
#5 CoreBridge (AIG) / American International Group
#5 New York Life / New York Life
🏆Quarterly Champion SavingsAnnuity Insurance Account
🏆Wantong Mutual – Stable Voyage (3-year term)
3. Combination annuity insurance ranking – SA
Combination annuity insurance, also known as structured annuity (Structured Annuity) and buffered annuity (Buffered annuity), in the third quarter of 2023Total premiums were $114 billion, sales volume increased by 12.5% compared with the same period last year.
Portfolio annuity accounts offer negative guaranteed annual returns, such as -5%, a -10% guarantee, and aCapped earnings cap.
The history of account opening and premium for combined annuity insurance is shown in the figure below.
Equitable Financial continued to rank first in sales in the combined annuity insurance market in 2023Q3.followed byAllianz Life Insurance(Allianz) and Prudential Life Insurance Company (Prudential).
Combined annuity insurance company ranked Top3
#1 Equitable / Fair Life Insurance
#2 Allianz / Allianz Life Insurance
#3 Prudential / Prudential Life Insurance
Quarterly Champion Portfolio Annuity Insurance Products
🏆Fair Life Insurance – Structured Capital Strategies Plus 21
4. Securities Annuity Insurance Ranking – VA
Security annuityin the fourth quarter of 2023Total premiums were US$123 billion,It dropped 3.4% from the previous quarter; compared with the same period last year, it dropped 7.8%. The historical trend of its account premiums is shown in the figure below:
Jackson National Life Insurance Company continues to rank first in sales volume in the securities-based annuity insurance market, with its market share remaining at around 19.3%.Equitable Life and New York Life entered the top three in the market this quarter, and their rankings remained basically unchanged.
Jackson National Life Insurance Company continues to rank first in sales volume in the securities-based annuity insurance market, with its market share remaining at around 19.3%.Equitable Life and New York Life entered the top three in the market this quarter, and their rankings remained basically unchanged.Securities Annuity Insurance Company Ranking Top 3
#1 Jackson National / Jackson National Life Insurance
#2 Equitable Financial / Fair Life Insurance
#3 New York Life / New York Life Insurance
Quarterly Champion Securities Annuity Insurance Product
🏆Jackson National Life – Jackson National Perspective II(evaluation)
4. Traditional fixed-rate annuity insurance ranking – FA
Traditional Fixed Income Annuities(Fixed Annuity) The overall market sales in the third quarter of 2023 were US$3 million, and the overall market share was less than 4.9%, as shown in the figure below.Due to low popularity, American Life Insurance Guide will stop reporting on this type of insurance market data in the future.A fixed-income annuity is similar to a fixed deposit in a bank, in that the insurance company will provide a fixed interest rate, usually only guaranteed for one year.
A fixed-income annuity is similar to a fixed deposit in a bank, in that the insurance company will provide a fixed interest rate, usually only guaranteed for one year.2023Q3 US Annuity Insurance Ranking Report
According to the release of LifeTank©️"American annuity insurance product type comparison price and advantages and disadvantages"Category of Annuity Insurance Types Offered, All U.S. Annuity Insurance Products Except Immediate Income Annuities," as of Q2023 3Gross premiums were $786 billion, up 8.5% from gross premiums deposited in the same period last year.
The figure below shows the overall market share of the annuity insurance types participating in the data ranking:
The types of annuity insurance participating in the statistics and the market share distribution are as follows:
- Multi-Year Guaranteed Interest Savings Annuity (MYGA/Multi-Year Annuity). 39.4%
- Indexed Annuity. 29.7%
- Securities Annuity (Variable Annuity). 15.7%
- Structured Annuity. 14.6%
- Traditional Fixed Income Annuities (Fixed Annuity). 0.6%
In the third quarter of 2023, with the continued high market interest rates, annuity products (Accumulation) that provide stronger asset management capabilities and retirement annuities (Guaranteed Income) with guaranteed lifetime income have become market stars sought after by policyholders. (Full text ends)
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*"WINK, INC. RELEASES 3RD QUARTER, 2023 DEFERRED ANNUITY SALES RESULTS", 11/22/2023, Wink.
