Sales of Fixed Indexed Annuities Rose 13% Y/Y in the First Quarter of 2012
A recent report by Moore Market Intelligence shows a 13% rise in fixed indexed annuity sales in the first quarter of 2012 compared to the first quarter of 2011. This report covered 99% of indexed annuity production which included forty-four carriers with combined sales of $8 billion in this most recent quarter.
The report shows that Allianz Life had the highest market share at 17%. Aviva held the second highest market share while American Equity, Fidelity & Guaranty Life, and Great American rounded-out the top five in sales production respectively. The report also reveals that consumers elected a guaranteed lifetime withdrawal benefit (GLWB) rider on nearly 56% of total indexed annuity sales.
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