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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