Total fourth quarter sales hit $11.5 billion for indexedannuities, according to the latest Wink’s Sales & MarketReport.

The numbers trended up as indexed annuity sales rose 15 percentfrom the previous quarter and grew 35 percent compared to the sameperiod a year ago. According to Wink’s, data from forty-fourindexed annuity carriers contributed to the report.

“2013 was the year for setting and conquering all previous salesrecords,” said Sheryl J. Moore, president and CEO of both Moore MarketIntelligence and Wink, Inc. “This was the fifth consecutiverecord-setting year at $36.8 billion, topping last year’s record of$8.5 billion by 13.4 percent."

Moore added: "Indexed annuities continue to gain more acceptancein bank and wirehouse distributions, as rates on traditional fixedmoney instruments remain low and consumers seek-out the guaranteesthat are inherent in indexed annuities. Plus, more attractive rateson these products are increasing sales in the independent agentdistribution as well—it is a win/win for the industry.”

Additional highlights from the report:

• Allianz Life held on to their position as the No. 1 carrier inindexed annuities with a 20.01 percent market share. SecurityBenefit Life maintained its position as the second-ranked companyin the market, while Great American, American Equity, and AtheneUSA rounded out the top five, respectively.
• Allianz Life’s Allianz 360 Annuity took over as the top sellingindexed annuity for the quarter.
• Guaranteed Lifetime Withdrawal Benefit (GLWB) utilizationdeclined for the second consecutive quarter, while additionalexperience data pointed to trends in rider elections and incomecommencement.
• Moore pointed-out, “It isn’t surprising to see GLWB electionsdown to 61.9 percent of eligible sales. Rates on indexed annuitiesare much more attractive than they have been in years, sosalespeople are finally able to focus on accumulation sales again,as opposed to income sales.”
• For indexed life sales, 50 insurance carriers participatedin Wink’s Sales & Market Report, representing 95.4 percentof production. Fourth quarter sales were $430.4 million. Whenevaluating fourth quarter indexed life sales, results were upmore than 31.0 percent when compared with the previous quarter, anddown more than 2.0 percent as compared to the same period lastyear.
• “Fourth quarter sales propelled 2013 into another recordbreaking year. This was the fourth consecutive record-setting yearfor indexed life sales, topping last year’s record by 7.95percent,” said Moore.
• Facts worth noting in the indexed life market this quarterincluded Pacific Life Companies maintaining the top position inindexed life sales, with a 12.94 percent market share. AXA USmoved to the second-ranked company in the market; National LifeGroup, Aegon, and Minnesota Life rounded-out the top fivecompanies, respectively.
• AXA US’ Athena Indexed UL was the top selling indexed lifeinsurance product for the 11th consecutive quarter.
• The average indexed UL target premium reported for the quarterwas $10,358, an increase of nearly 55 percent from the priorquarter.