Writedowns affected results at American International Group Inc. during the second quarter.

Here is a summary of the latest life and health insurance industry earnings news:

American International Group Inc., New York

2 Q 2008 Results

NET INCOME: $5.4 billion loss

REVENUE: $20 billion

NET REALIZED CAPITAL CHANGE: $6.1 billion loss

UNREALIZED SWAP PORTFOLIO MARKET VALUATION LOSSES: $5.6 billion loss

LIFE OPERATING INCOME: $2.4 billion loss

LIFE REVENUE, EXCLUDING CAPITAL CHANGE: $15 billion

LIFE NET REALIZED CAPITAL CHANGE: $5 billion loss

LIFE OPERATING INCOME EXCLUDING CAPITAL CHANGE: $2.6 billion

2 Q 2007 Results

NET INCOME: $4.3 billion

REVENUE: $31 billion

NET REALIZED CAPITAL CHANGE: $28 million loss

UNREALIZED SWAP PORTFOLIO MARKET VALUATION LOSSES: Not Applicable

LIFE OPERATING INCOME: $2.6 billion

LIFE REVENUE, EXCLUDING CAPITAL CHANGE: $14 billion

LIFE NET REALIZED CAPITAL CHANGE: $279 million loss

LIFE OPERATING INCOME EXCLUDING CAPITAL CHANGE: $2.9 billion

- Changes in the market valuation of the company’s AIGFP super senior credit default swap portfolio continued to affect the revenue total.

- Domestic life premiums, deposits and other considerations increased 20%, to $2.4 billion.

- Ordinary domestic life net investment income held steady at about $1 billion.

- Term life sales increased 7%, to $61 million.

- Variable universal life sales increased 25%, to $15 million.

- Domestic sales of individual fixed annuities increased 19%, to $1.9 billion, as domestic sales of individual variable annuities fell 6.8%, to $1.2 billion.

Nationwide Financial Services Inc., Columbus, Ohio

2 Q 2008 Results

NET INCOME: $85 million

REVENUE: $1.1 billion

NET REALIZED INVESTMENT CHANGE: $34 million loss

2 Q 2007 Results

NET INCOME: $197 million

REVENUE: $1.2 billion

NET REALIZED INVESTMENT CHANGE: $2.6 million loss

- Traditional and universal life sales increased 70%, to $41 million, helping to increase total individual life sales 4%, to $125 million.

- Retirement plan sales increased 1%, to $2.6 billion.

- The interest spread on general account values, or the difference between what Nationwide Financial earns on investments and what it pays its customers, increased to 1.94%, from 1.82%.

- Individual fixed annuity sales increased 7%, to $43 million, and individuial variable annuity sales fell 20%, to $1.1 billion.

- Income product sales increased 15%, to $58 million.

FBL Financial Group Inc., West Des Moines, Iowa

2 Q 2008 Results

NET INCOME: $17 million loss

REVENUE: $144 million

DERIVATIVE VALUE CHANGE: $32 million loss

NET INVESTMENT CHANGE: $74 million loss

2 Q 2007 Results

NET INCOME: $34 million

REVENUE: $274 million

DERIVATIVE VALUE CHANGE: $45 million gain

NET INVESTMENT CHANGE: $1.2 million gain

- FBL says it thinks investment impairments it has recognized this quarter have addressed the assets causing the company the most concern.

- The Farm Bureau Life distribution channel recorded a 16% decrease in variable sales but a 76% increase in traditional annuity sales.