Kim Borwick, Financial Editor for Annuity.org
  • Written By
    Kim Borwick

    Kim Borwick

    Financial Editor

    Kim Borwick is a writer and editor who studies financial literacy and retirement annuities. She has extensive experience with editing educational content and financial topics for Annuity.org.

    Read More
  • Published: December 4, 2020
  • 2 min read time
  • This page features 2 Cited Research Articles
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APA Borwick, K. (2022, November 21). MYGA Sales Strong in Q3. Annuity.org. Retrieved June 10, 2023, from https://www.annuity.org/2020/12/04/myga-sales-strong-in-q3/

MLA Borwick, Kim. "MYGA Sales Strong in Q3." Annuity.org, 21 Nov 2022, https://www.annuity.org/2020/12/04/myga-sales-strong-in-q3/.

Chicago Borwick, Kim. "MYGA Sales Strong in Q3." Annuity.org. Last modified November 21, 2022. https://www.annuity.org/2020/12/04/myga-sales-strong-in-q3/.

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According to a recent Wink Intel report, issuer survey data showed that third quarter multi-year guaranteed annuity sales increased by 33 percent over the second quarter of 2020, leading overall deferred annuity sales tracked by Wink.

Although total sales of deferred annuities were down by 1.1 percent from the third quarter of last year, at $54.2 billion, deferred annuity sales grew more than 18 percent from last quarter.

Sheryl J. Moore, president and CEO of Wink noted that although sales of most annuity types are down double-digits, MYGAs and structured annuities have seen double-digit growth in the third quarter of 2020.

Wink surveys providers of indexed, fixed, MYGA, structured and variable annuities quarterly for Wink’s Sales & Market Report.

MYGA sales for the third quarter of 2020 were $16.6 million, compared with $9.8 million for the same period last year — an increase of nearly 70 percent.

According to Wink’s data, the top 10 multi-year guaranteed annuity carriers for the third quarter of 2020 were:

  • Sammons Financial Companies
  • Massachusetts Mutual Life Companies
  • New York Life
  • Global Atlantic Financial Group
  • AIG
  • Athene USA
  • Brighthouse Financial
  • Oceanview Life and Annuity Company
  • Security Benefit Life
  • Symetra Financial

In addition to surging MYGA sales, structured annuities (registered index-linked annuities) also saw impressive growth in Q3. Structured annuity sales increased by 38 percent over the previous quarter and 30 percent over the third quarter of 2020.

Total third quarter sales of structured annuities reached $6,252,309,458, with Lincoln National Life leading the top ten carriers with its Level Advantage B Share annuity.

“Structured annuities continue to experience record sales in a linear fashion, but appear to be accelerating sales at a pace that is more swift than indexed annuities, at their same point in the annuity product life cycle,” according to Moore.

As for the multi-year guaranteed annuity sales, Moore explained in a news release, “It is very telling how consumers’ demand for guarantees continues to be emphasized through the sales of MYGA products. Three of the top ten companies in this market had sales increases in excess of 1,000 percent.”

Massachusetts Mutual Life’s multi-year guaranteed annuity product Stable Voyage 3-Year was the top selling non-variable deferred annuity for all distribution channels combined in overall sales for the second quarter in a row.

Traditional fixed annuity sales were down 32.7 percent from the third quarter of last year. Modern Woodmen of America was the leading carrier in fixed annuities, with a market share of 14.4 percent.

Variable annuities dropped by 19.6 percent from the same period last year but increased by 9.1 percent over the second quarter of 2020.

Indexed annuity sales were up 7.5 percent from the previous quarter and down 26.1 percent from the third quarter of 2019.

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Last Modified: November 21, 2022
Kim Borwick, Financial Editor for Annuity.org
Written By
Kim BorwickFinancial Editor
Kim Borwick is a writer and editor who studies financial literacy and retirement annuities. She has extensive experience with editing educational content and financial topics for Annuity.org. Driven by the desire to overcome the complexity of communication, especially when it comes to financial literacy, Kim’s primary goal is to help her team connect with readers.
  • Professional editor and copywriter with over 15 years of experience
  • Taught revision and editing in Full Sail’s Creative Writing for Entertainment BFA program
  • Holds a bachelor’s degree in English from the University of Central Florida and a master’s degree in communications from the University of Florida

2 Cited Research Articles

Annuity.org writers adhere to strict sourcing guidelines and use only credible sources of information, including authoritative financial publications, academic organizations, peer-reviewed journals, highly regarded nonprofit organizations, government reports, court records and interviews with qualified experts. You can read more about our commitment to accuracy, fairness and transparency in our editorial guidelines.

  1. Johnson, J. (2020, November 25). Third Quarter 2020 Annuity Sales. Retrieved from https://www.winkintel.com/2020/11/third-quarter-2020-annuity-sales/
  2. Wink. (2020, November 25). Wink, Inc. Releases 3rd Quarter, 2020 Deferred Annuity Sales Results. Retrieved from https://www.winkintel.com/2020/11/wink3q2020annuitysales/