NAILBA Holds In-Person Annual Meeting

The list of insurance company sponsors includes AIG, American National, John Hancock, Legal & General, Lincoln Financial, MassMutual, Mutual of Omaha, National Guardian Life, Nationwide, North American, OneAmerica, Pacific Life, Protective, Prudential, Securian and Transamerica.

Integrity Marketing, a rapidly growing insurance distributor, is another top sponsor.

The sponsor list also includes several insurtech companies: Formstack, LexisNexis and Techficient.

The State of Distribution

John Gilbert, NAILBA's 2022 chairman, came up as an annuity marketing executive at The National Benefit Corp. in West Des Moines, Iowa.

But David Levenson, president of LIMRA, presented survey data in an online session suggesting that typical NAILBA member firms may get much more of their revenue from the sale of protection products than from the sale of annuities.

The market research organization surveyed 60 BGAs and IMOs. The participating firms reported getting 80% of their revenue from the distribution of life insurance, 5% from the distribution of disability insurance and long-term care insurance, and just 8.5% from the distribution of annuities.

About 65% said that revenue was at least as high in 2020 as in 2019, in spite of the COVID-19 pandemic, and 72% said 2021 revenue is higher than, or is on track to be higher than, 2020 revenue.

Roughly 63% of the firms with increasing sales predicted sales will be at least 10% higher this year than in 2020.