American Equity Investment Life Holding Co.’s annuity sales rose 20 percent in the second quarter, reported the Associated Press. The company attributed this increase to the reinstatement of its “A-” financial strength rating from A.M. Best Co. in August 2006 and new product initiatives and agent incentives for 2007.

Annuity sales for the quarter reached $622.5 million, up from $517.7 million in the year-ago period.

The West Des Moines-based company will announce its second-quarter earnings on Aug. 1. Starting in the third quarter, it will stop releasing quarterly sales results prior to announcing quarterly earnings.