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New York Life sees higher operating earnings in 2018

New York Life Insurance Co. reported operating earnings of $2.32 billion in 2018, up from $2.06 billion in 2017.

Insurance sales increased slightly year over year, rising to $1.37 billion from $1.33 billion in 2017. Annuity sales were $14.17 billion, compared with $13.81 billion a year ago.

Individual life insurance in-force as of year-end 2018 was $1.029 trillion, up from $992.82 billion at year-end 2017.

Assets under management declined to $572.29 billion from $585.92 billion a year earlier.