SYS-CON MEDIA Authors: Pat Romanski, Nikita Ivanov, Elizabeth White, Sean Houghton, Glenn Rossman

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Latest DTCC Report Reveals Inflows into Annuity Products Increased 11 Percent in 2013

The Depository Trust & Clearing Corporation (DTCC) has released detailed findings in its latest Annuity Market Activity Report for 2013 that reflect an increase in both inflows and outflows, compared to 2012.

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,” said Andrew Blumberg, Director, DTCC Insurance & Retirement Services (I&RS).

Comparing 2013 to 2012

Inflows into annuity products processed in 2013 totaled almost $94 billion, increasing by nearly 11%, or $9.2 billion over 2012. Outflows totaled almost $85 billion, increasing by over 15%, or $11.4 billion, over 2012. The resulting net cash flows totaled $9 billion, declining by more than 19% compared to 2012. (See Graphic.)

Breakdown by State

                         
Rank       State      

Inflows
($B)

     

Market
Share

1       California       $8.0       10.3%
2       New York       $6.1       7.9%
3       Florida       $6.0       7.7%
4       Texas       $4.9       6.4%
5       Pennsylvania       $4.0       5.1%
6       New Jersey       $3.4       4.4%
7       Ohio       $3.2       4.1%
8       Michigan       $2.9       3.7%
9       Illinois       $2.7       3.5%
10       North Carolina       $2.2       2.9%
                 

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 $53 billion of inflows, or more than 76% of total inflows from January to September 2013.

In 2013 I&RS processed annuity transactions totaling more than $178 billion for:

  • 117 insurance company participants (representing 42 parent/holding companies)
  • 138 distributors
  • 3,467 annuity products

The full report and additional charts can be downloaded from the Analytic Reporting for Annuities website. The information is based on data obtained from the millions of transactions processed and maintained by I&RS and made available through its online Analytic Reporting for Annuities (Analytic Reporting) information service. I&RS is connected to more than 475 distribution and carrier firms representing product segments including life insurance, fixed and variable annuity products, and distribution channels including banks, BGAs, IMOs and IBDs.

About Analytic Reporting

Analytic Reporting for Annuities is an online information solution containing aggregated data from transactions processed by DTCC's Insurance & Retirement Services (I&RS). I&RS is the central messaging connection for annuity and life insurance transactions, enabling insurance companies to provide broker/dealers with daily financial transaction information. It processes approximately 150 million transactions each month.

Because Analytic Reporting is based on processed transactions, not surveyed data, Analytic Reporting gives DTCC customers a unique and unprecedented view of their own business as well as the market for annuity products so that they can discover key trends and identify opportunities. With updates approximately two to three weeks after each month-end, Analytic Reporting allows users to assess their business and access industry intelligence to support management decisions about sales, sales management, marketing and product offerings. Analytic Reporting is a hosted turnkey solution, available online anywhere, anytime. DTCC customers don't have to store or manage the data. They don't have to develop applications or run SQL queries to obtain the business information they rely on for decision making.

Visit http://www.dtcc.com/analytics for more information about the Analytic Reporting Service.

Follow us on Twitter: https://twitter.com/DTCCInsurance

About DTCC

DTCC has operating facilities and data centers around the world and, through its subsidiaries, automates, centralizes, and standardizes the post-trade processing of financial transactions for thousands of institutions worldwide. With 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry, simplifying the complexities of clearance, settlement, asset servicing, global data management and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, derivatives, money market instruments, syndicated loans, mutual funds, alternative investment products, and insurance transactions. In 2012, DTCC’s subsidiaries processed securities transactions valued at approximately US$1.6 quadrillion. Its depository provides custody and asset servicing for securities issues from 131 countries and territories valued at US$37.2 trillion. DTCC’s global trade repositories record more than US$500 trillion in gross notional value of transactions made worldwide.

For more information, visit dtcc.com, and follow us on Twitter: @The_DTCC

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