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Inflows into annuity products up 11 per cent in 2013

Inflows into US annuity products increased by 11 per cent in 2013, according to data in The Depositary Trust & Clearing Corporation’s (DTCC) Annuity Market Activity Report.

December 2013 was also the first time since inception of Analytic Reporting for Annuities in 2011 that outflows exceeded inflows for a given month.
 
“Based on the annuity transactions we process every day, we have shed light on critical insights and trends that can be leveraged by industry participants to make more informed business decisions and identify opportunities for growing their business,” says Andrew Blumberg, director, DTCC Insurance & Retirement Services (I&RS).
 
Inflows into annuity products processed in 2013 totalled almost USD94bn, increasing by nearly 11 per cent, or USD9.2bn over 2012. Outflows totalled almost USD85bn, increasing by over 15 per cent, or USD11.4bn, over 2012. The resulting net cash flows totalled USD9bn, declining by more than 19 per cent compared to 2012.
 
Findings from the year-end report also indicate that the top 10 states ranked by inflows (billions) in 2013 accounted for more than half of all inflows nationwide, and that the top 10 insurance/holding companies ranked by inflows captured almost USD53bn of inflows, or more than 76 per cent of total inflows from January to September 2013.

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