Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

New York Life Reports 21% Earnings Rise Last Year

By Ashley Scudder

X
Your article was successfully shared with the contacts you provided.

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.

Operating earnings grew 21% to $1.4 billion last year, rising from $1.1 billion in 2009. Operating revenue went to $15.4 billion from $14.3 billion.

Assets under management earned $316 billion in 2010 topping 2009 earnings of $286 billion. And Individual life insurance in force rose to $858 billion in 2010 from $816 billion in 2009.

–Ashley Scudder

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.