Maritime Life is reporting improved earnings for the six months ended June 30. The life insurer reports that consolidated net income was $39.4 million — up a whopping 137% over the same period in 2000.

According to the company, the bulk of the increase is based on the strong first quarter earnings, but second quarter earnings of $13.7 million are also up 21% over the $11.3 million reported in 2000.

It says the increased earnings in the first half of 2001 are due to emerging synergies from its acquisition of Aetna Canada, improved group claims experience and changes in the provisions for future policy benefits in both group and retail lines.

Total sales for the group life and health rose 32% over the same period in 2000, for a total of $101.2 million. Total sales of individual insurance products, including living benefits, were at $34.3 million, compared to $36.1 million in 2000, a decrease of 5%

The company says inverse annualized premium continues to grow and reached $624.1 million at June 30, an increase of 4% from a year ago. New investment product deposits were 34% lower than the first half of 2000. Maritime Life says that drop is consistent with the marketplace.