A giant real estate gain helped profits at MetLife Inc. during the fourth quarter of 2006.

MetLife, New York, is reporting $3.9 billion in net income for the latest quarter on $13 billion in revenue, up from $677 million in net income on $12 billion in revenue for the fourth quarter of 2005.

Completing a $5.4 billion sale of the Peter Cooper Village and Stuyvesant Town developments in Manhattan led to a $3 billion gain.

Individual annuity earnings were up 10%, but an increase in regulatory charges and other expenses hurt group life profits.

MetLife notes that adoption of American Institute of Certified Public Accountants Statement of Position 05-1 will lead to a reduction of at least $275 million in deferred acquisition costs. The reduction will be recorded as a reduction in retained earnings, the company says.

In other earnings news:

- Universal American Financial Corp., Rye Brook, N.Y., is reporting $64 million in net income for the fourth quarter of 2006 on $333 million in revenue, up from $3.9 million in net income on $222 million in revenue for the fourth quarter of 2005.

Universal American sells insurance to older Americans and also administers insurance plans aimed at older consumers.

Administration of Medicare Part D drug and Medicare managed care plans helped push senior administrative services revenue up 47%, to $22 million, the company says.

- National Financial Partners, New York, is reporting $18 million in net income for the fourth quarter of 2006 on $309 million in revenue, compared with $21 million in net income on $290 million in revenue for the fourth quarter of 2005.

NFP buys and runs financial services marketing firms.

Net income was down because costs were up and sales were down at “stores” the company has owned for at least a year, NFP says.

- EHealth Inc., Mountain View, Calif., is reporting $11 million in net income for the fourth quarter of 2006 on $17 million in revenue, up from $223,000 in net income on $12 million in revenue for the fourth quarter of 2005.

The Web-based health insurance broker estimates site membership ended the year at 393,900, up from 277,600 a year earlier.