Annuity Business Drives Earnings Momentum at MetLife and Prudential

Life insurance companies MetLife and Prudential Financial both reported quarterly earnings that exceeded analysts' estimates.

MetLife reported record variable annuity sales and a sharp rise in its retirement product fees.

Prudential also reported strength in its annuity business.

While annuity sales were strong at both companies, higher hedging costs had an adverse impact on the reported earnings of MetLife and Prudential.

Source: Reuters

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