American Equity Investment Life Holding Co. reported a net loss of $253.4 million, or $(2.76) per common share, compared to net income available to common stockholders of $18.6 million, or $0.20 per diluted common share, for second quarter 2019. Policyholder funds under management at June 30 were $53.1 billion, a decrease of $203 million, or 0.4%, from March 31. Second quarter net sales were $553 million, down 61% from second quarter 2019 sales. Commenting on sales, CEO Anant Bhalla said: “Given the prudence of limiting face to face meetings and increased social distancing to limit the spread of COVID-19, sales pipelines for us and for our industry have slowed. We are using this time of slower new business activity to identify where we need to retool and modernize our company and to embark on the reinvigoration of our strategic focus to dominate the retail annuity businesses in which we participate.”