“Citigroup Inc., the nation’s largest financial institution, said Monday its third-quarter earnings rose 35 percent, including a hefty $2.12 billion gain from the sale of its life-insurance and annuities business,” reports The Associated Press.

“Citigroup said net income totaled $7.14 billion, or $1.38 per share, in the third quarter, up from $5.3 billion, or $1.02 per share, a year earlier.

“Excluding the sale of Travelers Life & Annuity to MetLife Inc., which closed in the July-September period, and a handful of special charges, Citigroup’s income from continuing operations was 97 cent per share in the third quarter, up from 96 cents a year earlier.”