According to LIMRA’s second quarter 2012 survey, the indexed annuity market has continued its impressive growth with its now fourth consecutive quarter of outpacing traditional fixed annuity sales. Indexed annuity sales in quarter 2 totaled $8.6 billion, which is a 6% increase compared to the same quarter in 2011. LIMRA theorized that this continued increase is driven by the popular guaranteed lifetime withdrawal benefit (GLWB) riders, which were elected 71% of the time for products which offered them.
Allianz Life continues to hold the top spot for total indexed annuity sales with carrying 16% of the total market share. The rest of the top five carriers in terms of indexed annuity sales were Aviva, American Equity, Security Benefit Life, and Great American.