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New York Life sees higher insurance, annuity sales in 2015

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New York Life sees higher insurance, annuity sales in 2015

New York LifeInsurance Co. on April 7 reported 2015 operating earnings of $1.88billion, down from $2.02 billion in 2014.

Insurance sales grew year over year to $1.27 billion from$1.20 billion. Annuity sales also increased during the period to $12.02 billionfrom $11.29 billion. Policyholder benefits and dividends totaled $9.83 billionin 2015, up from $9.08 billion in 2014.

Assets under management totaled $528.20 billion as of Dec.31, 2015, down from $540.90 billion a year ago. Surplus and asset valuationreserve increased to $22.69 billion from $21.94 billion.