Variable Annuity Providers See Hedge Losses

By RADI KHASAWNEH

Hedges added after a boom in variable annuity sales last year caused losses for MetLife Inc. and Prudential Financial Inc. in the third quarter.

MetLife reported a $1.09 billion loss on a portfolio of derivatives that include variable annuity hedges in the third quarter, according to a Nov. 7 filing with the Securities and Exchange Commission.

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