FIA Market In 1Q: The Top 10 Shuffle

Despite first quarter 2017 sales of fixed indexed annuities (FIAs) dropping 14 percent to $12.9 billion compared with the year-ago period, there was still plenty of jockeying for position among product sellers for top 10 recognition.

Here is how companies, products and distributors finished the quarter compared with the first quarter in 2016, according to industry tracker Wink’s Sales & Market Report.

Top Indexed Annuity Companies 1Q 2017:

1. Allianz Life
2. American Equity Companies
3. Athene USA
4. Nationwide
5. Great American Insurance Group
6. AIG
7. Symetra Financial
8. Midland National Life
9. Voya Financial
10. Lincoln National Life

Average Commission 1Q 2017:

Average agent commission: 4.96 percent.

Top Indexed Annuity Companies 1Q 2016:

1. Allianz Life
2. American Equity Companies
3. Great American Insurance Group
4. AIG
5. Nationwide
6. Midland National Life
7. Athene USA
8. Symetra Financial
9. Voya Financial
10. Lincoln National

Average Commission 1Q 2016:

Average agent commission: 5.38 percent.

Channel Leaders 1Q 2017:

Bank- Great American Insurance Group
Career- CNO Companies
Direct Response- Symetra
Independent Agent- Allianz Life
Independent Broker/Dealer- Allianz Life
National Broker-Dealer- Symetra Financial

Channel Leaders 1Q 2016:

Bank- Great American Insurance Group
Career- AIG
Direct Response- Symetra
Independent Agent- Allianz Life
Independent Broker/Dealer: Allianz Life
National Broker/Dealer- Allianz Life

Top Selling Products By Channel 1Q 2017:

Overall- Allianz Life Allianz 222 Annuity
Bank- Great American Assurance Select 7
Career- Variable Annuity Life Power Index Elite
Direct Response- Symetra Life Symetra Edge Plus 7
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker/Dealer- Allianz Life Allianz 222 Annuity
National Broker/Dealer- Allianz Life Allianz Core Income 7 Annuity

Top Selling Products By Channel 1Q 2016:

Overall- Allianz Life Allianz 222 Annuity
Bank- Great American Assurance Select 7
Career- Bankers Life Premium Bonus Indexed Annuity
Direct Response- Symetra Life Symetra Edge Plus 7
Independent Agent- Allianz Life Allianz 222 Annuity
Independent Broker/Dealer: Allianz Life Allianz 222 Annuity
National Broker/Dealer- Allianz Life Allianz Core Income 7 Annuity

InsuranceNewsNet Senior Writer Cyril Tuohy has covered the financial services industry for more than 15 years. Cyril may be reached at [email protected].