American Equity Investment Life Holding Co. reported a third-quarter net loss of $7.4 million, or 9 cents per share, compared with net income of $97.3 million, or $1.19 per share, for third quarter 2015. The company had an operating loss of $4.7 million in the third quarter, compared with operating income of $45.9 million for the year-ago quarter. Among the factors contributing to the loss were revisions to assumptions used to determine deferred policy acquisition costs, deferred sales inducements and the liability for future benefits to be paid under lifetime income benefit riders. Policyholder funds under management at Sept. 30 were $44.5 billion, a 1.9 percent increase from the end of the second quarter. Gross and net sales of annuities were down sequentially and compared to the prior-year third quarter, with decreases ranging between 16 and 35 percent. American Equity President and CEO John Matovina said sales were expected to moderate in the second half of the year following a very strong first six months.