New York Life Insurance Company has reported rise in its fiscal 2013 operating earnings by 11% to $1.76bn, compared to $1.58bn last year.

The company attributed the rise to strong performances in both its Insurance and Agency and Investments operations.

The surplus and asset valuation reserve has increased by 8% to $21.1bn, while assets under management were up 12% to $425bn in 2013. Individual life insurance in force also increased by $24bn to $840bn, compared to fiscal 2012.

New York Life Insurance chairman and CEO Ted Mathas said, "Looking at the company’s unprecedented earnings and surplus on one hand, and our record payout of benefits and dividends on the other, validates our success in doing what we as a mutual company do best: deliver long-term policyholder value."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.