A new variable annuity feature that guarantees access to minimum withdrawal benefits sold well at American International Group Inc. during the fourth quarter of 2005, the company says.

AIG, New York, is reporting $444 million in net income for the latest quarter on $27 billion in revenue, compared with $1.6 billion in net income on $25 billion in revenue for the fourth quarter of 2004.

The life and retirement services business is reporting $2.2 billion in operating income for the latest quarter on $13 billion in revenue, compared with $2.2 billion in operating income on $11 billion in revenue for the fourth quarter of 2004.

Domestic fixed annuity sales fell during the quarter, but the guaranteed minimum withdrawal benefit feature helped generate strong domestic variable annuity sales, AIG says.