New York Life Insurance Company increased its financial surplus by 12% last year, according to the company.
New York Life, New York, reported this increase in the company’s 2010 financial results. The numbers released on Thursday included a breakdown of the company’s finances compared to 2009.
The surplus and asset valuation reserve totaled $16.7 billion in 2010, compared to $15 billion in the previous year.
Insurance sales for the company increased to $3 billion in 2010 from $2.6 billion in 2009. Investment sales increased to $35 billion in 2010, up from $32 billion in 2009.