The backdrop: The rates of interest paid by bond issuers have began to degree off, however Bryan Hodgens, head of LIMRA analysis, famous that charges are nonetheless considerably greater than they had been a couple of years in the past.
That’s helped insurers create the investments wanted to enhance market-sensitive merchandise with advantages ensures, similar to fastened listed annuities, he stated.
“Sustained robust rates of interest have allowed carriers to enhance FIA crediting charges and lift cap charges, which elevated the general product line attractiveness,” Hodgens stated.
Annuity gross sales particulars: Right here’s what occurred to LIMRA U.S. figures for brand new annuity gross sales between the primary quarter of 2023 and the most recent quarter.
- Deferred revenue annuities: $1.2 billion (Up 40%)
- RILAs: $15 billion (Up 39%)
- Fastened listed annuities: $29 billion (Up 24%)
- Variable annuities (aside from listed): $14 billion (Up 7%)
- Fastened quick annuities: $3.6 billion (Up 6%)
- TOTAL: $107 billion (Up 13%)
Life gross sales particulars: Right here’s what occurred to LIMRA figures for brand new particular person life gross sales between the primary quarter of 2023 and the most recent quarter.
- Conventional common life: $250 million (Up 9%)
- Listed common life: $930 million (Up 4%)
- Variable common life: $427 million (Up 4%)
- Time period life: $724 million (Up 2%)
- Entire life: $1.4 billion (Down 8%)
- TOTAL: $3.8 billion (Down 1%)
Correction: An earlier model of this text described LIMRA’s public quarterly life survey stories incorrectly. LIMRA now gives the greenback worth of quarterly particular person life insurance coverage gross sales.
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