The stock market rebound helped push variable annuity deposits to $3.1 billion at Hartford Financial Services Group Inc. at the end of 2006, up 26% from the total at the end of 2005.
Retail mutual fund deposits climbed 79%, to $3 billion, according to Hartford Financial, Hartford.
The company is reporting $783 million in net income for the fourth quarter of 2006 on $7.6 billion in revenue, compared with $467 million in net income on $7.7 billion in revenue for the fourth quarter of 2005.
Although retail product deposits climbed sharply during the latest quarter, unit net income fell to $102 million, from $175 million, because of a charge related to unlocking of deferred acquisitions costs, Hartford Financial says.
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