A 24% increase in U.S. life insurance sales and a 45% increase in U.S. lifetime income annuity sales helped profits at New York Life Insurance Company in 2006.
New York Life, New York, a mutual insurer, is reporting $2.3 billion in net income for the year on $21 billion in revenue, up from $855 million in net income on $17 billion in revenue for 2005.
Long term care insurance sales increased 15%, New York Life says.
The company had 10,500 licensed agents in the United States and 29,600 in other countries.
Outside the United States, sales were especially strong in Hong Kong, India and Mexico, New York Life says.