Global Asset Management segment operating earnings for the second quarter were $12.3 million, compared to $8.2 million in the prior year quarter, primarily due to an 11 percent increase in average assets under management. Operating revenues for second quarter were $114.3 million, compared to $103.3 million for the same period in 2009, primarily due to higher management fees. Unaffiliated assets under management were $71.2 billion as of June 30, 2010, compared to $67.3 billion as of June 30, 2009.
International Asset Management and Accumulation segment operating earnings for the second quarter was $35 million compared to $29.3 million for the same period in 2009, primarily due to improved macroeconomic conditions and higher assets under management. Operating revenues were $188.2 million for second quarter, compared to $161.7 million for the same period last year, primarily due to higher net investment income from inflation-linked investments in Chile, the impact of foreign currency movements, and an increase in fees on higher assets under management. Segment assets under management were a record $38.1 billion as of June 30, 2010, compared to $28.7 billion as of June 30, 2009. This includes a record $3.4 billion of net cash flows over the trailing twelve months, or 12 percent of beginning of period assets under management.
Life and Health Insurance segment operating earnings were $54.6 million, compared to $57.7 million for the same period in 2009. Specialty Benefits earnings were up slightly at $24.0 million in second quarter 2010, compared to $23.7 million in the same period a year ago. Individual Life earnings were $26 million compared to $28.3 million in second quarter 2009. The Health division had operating earnings of $4.6 million in second quarter 2010 compared to earnings of $5.7 million for second quarter 2009, reflecting the decline from a year ago in group medical covered members.
