Weiss: Total Life, Health Profits Quadruple

Weiss Ratings Inc., Jupiter, Fla., says total industry profits increased to $30 billion last year on $3.8 trillion in assets, up from $7.3 billion on $3.4 trillion in assets in 2002.

The stock market rebound and a shift to annuity products with more conservative rate guarantees contributed to the improvement and helped increase industry capital and surplus to $274 billion at the end of 2003, up from $243 billion a year earlier, Weiss says.