Quarterly reports

Soleares Research, LLC is a market research and consulting firm servicing the annuity and life insurance businesses. We provide, through our website, periodic articles that cover important industry trends; we also offer clients phone or on-site consultations, executive briefings and presentations. We pride ourselves on first-class customer service and responsiveness to our clients. We aim to be an indispensable resource to the marketplace.

List of Articles

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Posted By: Steven D. McDonnell Posted On: Dec 04, 2018

Based on our review of selected public insurers’ third quarter results, and recently-released data from industry research firms, we think the variable annuity business experienced positive uplift in the quarter, which we think will carry through the rest of this year...


Posted By: Steven D. McDonnell Posted On: Aug 28, 2018

Variable annuity sales for most stock-traded insurers we follow regularly showed improvement in the second quarter, which no doubt contributed to the industry’s quarter-over-quarter rise. This report will be our customary quarterly rundown of what we gleaned from insurers’ earnings reports...


Posted By: Steven D. McDonnell Posted On: May 10, 2018

First-quarter variable annuity deposits for most of the stock-traded insurers we monitor regularly were better compared to the prior-year quarter and we expect the industry may have had a similar experience...


Posted By: Steven D. McDonnell Posted On: Feb 27, 2018

As we typically do each earnings season, we reviewed variable annuity business results for a small number of selected stock-traded insurers and for most of them, sales improved in Q4, however we can’t say the same about the industry as a whole...


Posted By: Steven D. McDonnell Posted On: Nov 17, 2017

After reviewing earnings calls of stock-traded insurance companies we cover regularly, we came away with the impression that for of them, variable annuity results were lackluster, although there were a few instances of modest improvement...


Posted By: Steven D. McDonnell Posted On: Aug 14, 2017

As we suspected, some stock-traded insurance companies we cover regularly garnered increases in variable annuity sales sequentially, which we attribute partly to seasonality – since the second quarter is usually a strong one for the industry – and partly to the continued strong performance of the stock market...


Posted By: Steven D. McDonnell Posted On: May 17, 2017

In first quarter earnings calls of stock-traded insurers we watch regularly, a common theme was discussed on pretty much all of them: issues in dealing with the Department of Labor’s fiduciary rule which put a damper on annuity sales...


Posted By: Steven D. McDonnell Posted On: Feb 27, 2017

After reviewing the results of selected publicly-traded insurers from their fourth quarter earnings calls and financial statements, we expect that the variable annuity industry as a whole reflected the experience of these companies, namely lower sales for Q4 and the year...


Posted By: Steven D. McDonnell Posted On: Nov 29, 2016

In covering the variable annuity business, oftentimes, due to the amount of product filing activity insurers engage in, our reports almost “write themselves” in that we have much to discuss. During slower periods like these, we tend to comment on broader themes that may be of relevance now, or should be monitored in the future...


Posted By: Steven D. McDonnell Posted On: Nov 15, 2016

In this commentary we’ll offer up our usual thoughts from insurers’ quarterly earnings calls. This time we came away with the a feeling we’ve had for some time now: that companies are more or less accepting that variable industry sales are in retraction for the foreseeable future...


Posted By: Steven D. McDonnell Posted On: Aug 08, 2016

Based on our review of results of publicly-traded insurers we watch regularly, variable annuity sales fell for most, with at least one bright spot. Thus we are unsure whether the recent downward movement in industry sales continued or whether there was a respite...


Posted By: Steven D. McDonnell Posted On: May 23, 2016

Variable annuity industry sales in the first quarter finished how we expected they would – down considerably on both a sequential and year-over-year basis. In this report we’ll take a quick look at the numbers and put them in perspective with what’s been happening on the product front...


Posted By: Steven D. McDonnell Posted On: May 16, 2016

We just finished conducting our review of first quarter results of publicly-traded insurers we monitor regularly, and for all of them, variable annuity sales fell, thus we suspect the industry experienced a similar result...


Posted By: Steven D. McDonnell Posted On: Feb 22, 2016

As is our custom, we reviewed fourth quarter results of publicly-traded insurers we monitor regularly, and found it hard to come up with a strong indication as to where the industry finished for that period. A few companies had at least modest sales increases while others were not so fortunate...


Posted By: Steven D. McDonnell Posted On: Nov 09, 2015

We just completed our third quarter review of variable annuity business results of selected stock-traded insurers and found that for all of them, sales fell sequentially during that time period. Market volatility was the most-often cited reason by companies for their sales declines; we think seasonality played a role as well...


Posted By: Steven D. McDonnell Posted On: Aug 10, 2015

Overall, we’re of the opinion that second quarter earnings for stock-traded insurers we watch regularly were pretty strong, and for all of them, variable annuity sales went up sequentially, thus we suspect the industry experienced a similar uptick...


Posted By: Steven D. McDonnell Posted On: May 11, 2015

Last week we finished reviewing first quarter results for stock-traded insurers we monitor regularly, and for most of them, variable annuity sales were lethargic, thus we expect the industry experienced similar results...


Posted By: Steven D. McDonnell Posted On: Feb 17, 2015

As is our practice each quarter, we reviewed earnings results for selected stock-traded insurers we track regularly, and came to the conclusion that for most of them, variable annuity operations performed more or less in line with expectations, but with a few hiccups here and there...


Posted By: Steven D. McDonnell Posted On: Nov 17, 2014

In this commentary we’ll offer up some comments on third-quarter results of Dutch insurer AEGON, because it has a substantial variable annuity business in the U.S. and its experience in the quarter mirrored that of some competitors here...


Posted By: Steven D. McDonnell Posted On: Nov 10, 2014

Third quarter earnings season for the publicly-traded insurers we watch regularly concluded last week, and for most of those companies, variable annuity business operations retained profitability, largely because the stock market’s rise caused assets under management to grow...


Posted By: Steven D. McDonnell Posted On: Aug 18, 2014

For a while now we had a suspicion MetLife would come out with an investment-only variable annuity, since so many of its peers have done so. As it turns out the insurer filed one not long ago, and we’ll discuss the product in this commentary...


Posted By: Steven D. McDonnell Posted On: Aug 11, 2014

During the second quarter publicly-traded insurers we monitor regularly experienced increased profitability within their variable annuity operations, however sales for most were somewhat lackluster, as has been the case of late...


Posted By: Steven D. McDonnell Posted On: May 19, 2014

In the first quarter of this year variable annuity sales fell, on a sequential basis, for every member of our group of publicly-traded insurers we watch regularly, which makes us pretty sure that the industry experienced a similar result...


Posted By: Steven D. McDonnell Posted On: Feb 24, 2014

We reviewed fourth quarter earnings results for selected publicly-traded insurers we track regularly and came to the conclusion that variable annuity industry deposits dropped for the quarter and the year as a whole. We think the very precipitous sales declines of a number of companies offset growth reported by a few...


Posted By: Steven D. McDonnell Posted On: Feb 03, 2014

Fourth quarter earnings season for publicly-traded annuity insurers is close upon us, and we expect that most companies will report fairly decent earnings performance for the time period, given that the stock market finished on a strong note. As for annuity sales – that will be an entirely different story...


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