Capital gains of the nation’s life and health insurers jumped 87.4% in the first three months of 2005, compared to a year ago. [@@]
But overall profits in the industry dipped 5.3% according to Weiss Ratings Inc., Jupiter, Fla. Capital gains for the first quarter came in at $474.8 billion, an increase of $221.4 million.
This is the second year in a row the industry has reported positive first quarter investment results, following 3 years of large capital losses.
Flat product sales and an increase in policy surrenders dampened the effect of the capital gains boost, said Melissa Gannon, Weiss vice president.