2021 Press Release: Life-Annuity Distribution & Marketing Annual - Weathering the Storm
Conning is Pleased to Announce 2021 edition of its Life-Annuity Distribution and Marketing Annual-
Weathering the Storm
HARTFORD, CT – July XX, 2021 – The life-annuity industry and the distributors that support it weathered the Covid-19 pandemic storm. That storm disrupted established business practices and had a financial impact on insurers and distributors in terms of revenue.
The eighth edition of Conning’s Life-Annuity Distribution and Marketing Annual, “Weathering the Storm”, looks at key market-facing issues affecting insurers and distributors. This edition continues Conning’s analysis of contract development and advertising expense trends. Using statutory data and Conning’s proprietary analysis, it reviews individual life and annuity sales by product and channel from 2016 through 2020. In addition, it provides a product-level sales forecast through 2023.
“A year ago, the life-annuity industry and the distributors that support it began to face a perfect storm created by the Covid-19 pandemic that disrupted business practices, financial markets, and individual’s lives. Having weathered that storm, our analysis identifies the real financial impact it had on distributors in terms of revenue and income and how well they are recovering,” said Scott Hawkins, a Director with Insurance Research at Conning.
“Even as the pandemic disrupted the industry, distributor consolidation continued. The pandemic contributed to the pressure on distributors to gain scale. At the same time, many agents and advisors moved closer to or entered retirement. Private equity interest in acquiring distributors remained a source of capital for the aggregators acquiring distributors,” added Steve Webersen, Head of Insurance Research.
“Life-Annuity Distribution and Marketing Annual: Weathering the Storm” is available for purchase from Conning by calling (888) 707-1177 or by visiting www.conning.com/insurance-research/publications-and-subscriptions.
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Conning (www.conning.com) is a leading investment management firm with a long history of serving the insurance industry. Conning supports institutional investors, including insurers and pension plans, with investment solutions, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
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