NU Online News Service, March 16, 2004, 1:53 p.m. EST – Strong investment sales helped New York Life Insurance Company, New York, overcome modest growth in domestic life sales in 2003.[@@]
The policyholder-owned mutual insurer is reporting $1.1 billion in net income for 2003 on $15 billion in revenue, up from $1 billion in net income on $13.7 billion in revenue for 2002.
The company notes that its surplus and asset valuation reserve grew to $10.8 billion, from $8.8 billion.