Wink's data
The following are Wink survey results reflecting changes in the annuity insurance market between the fourth quarter of 2022 and the fourth quarter of 4:
- MYGA multi-year fixed rate annuity insurance:$530 billion (up 48%)
- Combination annuity insurance (RILAs): $120 billion (up 33%)
- Indexed annuity insurance: $280 billion (up 29%)
- Traditional fixed-rate annuities: $7.31 million (up 27%)
- Traditional securities-based annuity insurance: $120 billion (down 3.7%)
Income annuity with growth rate exceeding 80%
According to LIMRA data from the American Life Insurance Association, fixed-rate tax-deferred annuity insurance products, including MYGAs, have grown by 52%.
Changes in tax rules have allowed deferred income annuities, once a niche market, to grow by more than 80%.
Here are the data findings provided by LIMRA:
- Deferred income annuities: $13 billion (up 81%)
- Fixed-rate deferred annuities: $590 billion (up 52%)
- Portfolio annuities: $130 billion (up 29%)
- Indexed annuities: $250 billion (up 10%)
- Fixed income annuities: $35 billion (up 9%)
- Securities annuities (other than indexed annuities): $120 billion (down 3%)
(End of the article)
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