Web insurance sales operations expanded rapidly at Health Benefits Direct Corp. during the second quarter.

Health Benefits Direct, Radnor, Pa., a new Web-based insurance broker, is reporting a $2.7 million net loss for the latest quarter on $5.1 million in revenue, compared with a $4.3 million net loss on $2.6 million in revenue for the second quarter of 2006.

The number of insurance products and related products that the company Web site is selling increased to 40 at the end of the second quarter, up from 28 at the end of the first quarter, Health Benefits Direct says.

In other earnings news:

- Annuity and Life Re (Holdings) Ltd., Hamilton, Bermuda, is reporting a $92,056 net loss for the second quarter on $553,950 in investment income, compared with a $649,959 net loss on $604,441 in investment income for the second quarter of 2006.

Annuity & Life Re, a life reinsurer that has ceased active marketing of reinsurance, is reporting no revenue from premiums. Investment income accounts for all of its reported revenue.

The company ended the quarter with $116 million in assets, down from $119 million in assets at the end of 2006.