MetLife Reports Strong Operating Earnings and Variable Annuity Gains

Life and annuity insurer MetLife reported strong operating results for the second quarter.

Earnings from operations exceeded analyst forecasts and came in at $723 million for the quarter.

Derivatives losses of $1.8 billion affected reported net income.

MetLife's variable annuity business is strong with deposits increasing 27% to a record $4.5 billion in the second quarter of 2009.  This stands in contrast to rival Hartford Financial which reported variable annuity deposits of $701 million for the second quarter--down from $2.2 billion in the same period of the prior year.

Source: MarketWatch

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