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N.Y. Life Reports Higher 2002 Net Income

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NU Online News Service, March 11, 2:43 p.m. – New York Life Insurance Company, New York, is reporting $1 billion in net income for 2002 on $14 billion in operating revenue, up from $824 million in net income on $13 billion in operating revenue for 2001.

The company’s U.S. sales of individual life insurance increased 42%, to $1.6 billion, and its sales of individual annuities increased 13%, to $5 billion.

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Life sales through the company’s career agency system increased 11%, to $783 million.