Annuity sales fall 8% in 2017 due to economic and regulatory challenges

[Insurance Forums Staff]

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Annuity sales fall 8% in 2017 due to economic and regulatory challenges

Variable annuity sales dip 9%, marking first time in 20 years that annual VA sales fell below $100 billion. Jackson National Life, New York Life and Allianz Life top sales in variable annuities, fixed annuities and indexed annuities, respectively.

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[eersfan]

Only Jackson, to my knowledge, showed a slight increase in sales over 2016. The rest were down...and some were way down compared to 2016.

 

[Allen Trent]

I wish there was a way to get real historical new money numbers without the churning of existing annuities. I would assume that 2017 being down 8% is that a substantial amount of the churning of 1 annuity to another annuity dropped off heavily. When carriers report their production, it is new money to them, but no one is reporting in those #s how much went out the back door in 1035 or rollovers to another carrier, sometimes with the same agent of record on both contracts

 

[BIG one]

I don't put a lot of STOCK in this article, no pun intended. My annuity sales didn't fall, I'm sure some of this number has to do with RIA's increasing popularity.