NU Online News Service, April 11, 3:42 p.m. – The Savings Bank Life Insurance Company of Massachusetts, Woburn, Mass., is reporting $10 million in net income for 2001 on $235 million in revenue, compared with $15 million in net income on $239 million in revenue for 2000.
Savings Bank Life attributed the drop in net income to the effects of new Massachusetts accounting and reserve regulations that took effect in 2001.