MassMutual Leads in Whole Life in 1Q 2017

MassMutual Life finished as the top seller of whole life insurance in the first quarter 2017, industry tracker Wink’s Sales & Market Report said this week.

MassMutual was the top whole life seller in 2016.

In the first quarter, the company generated new sales of $142 million and a market share of 15 percent, said Sheryl J. Moore, president and CEO of Moore Market Intelligence and Wink Inc., publisher of the life and annuity industry data tracker Wink’s Sales & Market Report.

Mutual of Omaha, Transamerica, Penn Mutual and Americo rounded out the top five companies for whole life sales, Wink said.

Penn Mutual’s Guaranteed Choice Whole Life was the best-selling whole life product for whole life sales, for all channels combined, Wink said.

First-quarter whole life sales were $933.1 million, Wink reported.

Top 10 Whole Life Companies 1Q 2017

1. MassMutual Life
2. Mutual of Omaha
3. Transamerica
4. Penn Mutual
5. Americo
6. One America
7. Foresters
8. American National
9. AIG
10. Lafayette Life

Channel Leaders 1Q 2017:

Bank: Pacific Life
Broker/Dealer National Full Service: Nationwide
Broker/Dealer Independent: Phoenix Companies
Career: Transamerica
Direct Response: Mutual of Omaha
Independent Agent: Americo

Top Selling Products by Channel 1Q 2017:

Overall: Penn Mutual Guaranteed Choice Whole Life
Bank: Pacific Life Flex Protector II
Broker/Dealer National Full Service: Nationwide YourLife WL 100
Broker/Dealer Independent: PHL Variable Phoenix Remembrance Life
Career: Penn Mutual Guaranteed Choice Whole Life
Direct Response: American General Life Guaranteed Issue WL
Independent Agent: United of Omaha Living Promise - Level Benefit

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

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Cyril Tuohy is a writer based in Pennsylvania. He has covered the financial services industry for more than 15 years. He can be reached at [email protected].