American Equity Investment Life Holding Co. on Wednesday reported second-quarter 2013 net income of $120.1 million, or $1.71 per share, compared with second-quarter 2012 net income of $18.8 million, or 30 cents per share. Its quarterly earnings included an after-tax charge of $5.5 million, or 8 cents per share, to cover assessments from state guaranty associations related to the insolvency of Executive Life Insurance Co. of New York. Annuity sales by the West Des Moines-based company increased to $1.1 billion in the second quarter, up from $930 million in the first quarter. "American Equity is well positioned to capitalize on the growing demand for guaranteed retirement savings and income products and expect our invested assets and earnings to continue to grow in the periods ahead," founder and Executive Chairman David Noble said in a release.