Net lower at Nationwide, Protective Life

Columbus, Ohio-based Nationwide Financial Services Inc. said its fourth quarter net income fell to $74.2 million, or 53 cents per diluted share, from $158.4 million, or $1.06 per diluted share, in the fourth quarter. Losses from discontinued operations of $21.3 million contributed to the decline, as did $66.2 million in investment losses. Protective Life Corp. of Birmingham, Ala., said net income for the fourth quarter fell to 85 cents per share, from $1.19 per share in the year-earlier period. The company's full-year net income hit a record $4.05 per diluted share, up 2.8%. Protective also said that its annuity sales increased 38.8% to $1.7 billion last year, a record. Aetna Inc., the Hartford, Conn.-based health insurer, reported a 3% climb in fourth quarter profits to $448.4 million, or 87 cents per share. For the year, net income rose 16% to $3.47 per share.