New York Life Reports Record-Setting Operating Earnings, Surplus, Insurance Sales
New York Life Insurance Company, America’s largest mutual life insurance **, in the year 2007 setting new records for the sale of insurance and investment products, as well as stands to reach new heights , and operating income, the excess of operating revenues and assets under management.
Among the important Records New York Life has made in the year 2007:
Operating income of 17 2007,
From $ 1.09 billion in 2006 *.
Operating revenue increased by $ 1.1 billion, or 9%, to $ 13 billion
2007 *.
Surplus and Asset Valuation Reserve (AVR) has increased by more than $ 800
Millions of $ 14.7 billion.
Total sales of insurance has exceeded 3 2007, which represents an increase
From 15%.
Investment performance, turnover has increased by more than $ 900 million, or
3% to 35.6 billion dollars.
Assets Under Management increased by more than $ 18 billion
$ 280 billion in 2007.
Sy Sternberg, chairman and chief executive officer, said: “The business had another record year for the books in 2007. We have a strong demand for our products in all sectors, including insurance Life, Lifetime Income products of the old-age insurance and other institutional services and retail products and services. 2007 reflects the excellence of our implementation strategies, including the focus on business lives, to the career agents, companies remaining a mutual, and, of course, maintaining the financial strength, a hallmark of our company. surplus reached a new high of 14.7 billion dollars in excess of a cushion of safety and protection for our policyholders. Surplus is an important measure of value at all times, but especially in times of economic difficulties, as the nation is Assistons today. ”
See attached reconciliation Generally Accepted Accounting Principles of the United States of America (GAAP) measures of non-GAAP performance, performance measures.
Source: Fortune 500 Ranking-2007 (April 30, 2007 Edition).
Progression of results
The company GAAP, the net income amounted to 1.5 billion United States dollars in the year 2007, compared to $ 2.3 billion during the year 2006 as a unique and extraordinary victory distorted the results. The results of 2006 were 1011 million dollars of profits, investments in the Express Scripts, Inc., a large extent by a single change in the accounting method. Cleans both the effects of Express Scripts win, without further investment and profits in 2007 GAAP net income of 19% to $ 1.3 billion. Operating earnings of the company to measure the profitability of the runway from continuing operations increased by 17% on the new high of 1.28 billion dollars in the year 2007. It is available on top of the 16% growth in the year 2006 with an operating profit of $ 1.09 billion.
Related Articles
Technology companies are joining forces to create online identification cards
Microsoft, Google and PayPal, a unit of eBay, are among the founders of the organization of an industry hopes that solving the problem of overcharging password to the computer user. The information Card Foundation is an attempt to create a unique concept industrywide management of personal identities online, that promises to
Life insurance ultimate Put
People have car insurance, because bad things can happen to their car. Rear, my window was dismantled and radio one month - insurance, all but $ 500 of $ 1500. People have insurance in their homes, because a small fire can lead to that tens of thousands of dollars in
Woman in the News: Christine Todd Whitman, Just in Time, listening
The youngest of four children growing up under the reign landed in New Jersey's Land hunt, Christine Todd Temple to hide under the kitchen table and wait for their brothers and sisters and their older friends. As they bite. ''Yes, they sometimes,''his sister Kate Beach, recently recalled. Spirited and independent since
New York Insurance most expensive
New York, the second to pay auto insurance for the nation, on average, while New Jersey residents pay the highest consumer group said today. The consumer organization, the New York Public Interest Research Group, said that sharp differences between what motorists in New York City and in other parts of the
Kaiser Daily Health Policy Report
Two years after the law on health insurance in Massachusetts was signed, the 'biggest challenge is the increase in costs, "the AP / Boston Globe reports. Given that the law in force, the number of insured citizens of inhabitants has increased by nearly 350000 people. A legislative commission in 2006,
Small Business-The cost of insurance down in western New York since the September 11
The commercial insurance premiums, which rose by over 30 per cent for most businesses after the World Trade Center to threaten the race stopped a few small businesses. Business Guide describing the suddenly volatile insurance market that the crisis could lead to higher prices and job losses in western New York. "Insurance
Buffett's new bond insurer gets 46th licence
Berkshire Hathaway's (BRKa.N: Quote, Profile, Research), new borrowing insurer obtained its license to date of Massachusetts, a spokesman for the distribution of insurance in the state, said Thursday. Berkshire, billionaire investor Warren Buffett, has already acquired a licence, to guarantee municipal bonds in 45 states and the District of Columbia, a
The worst driver in New York will pay more
New York State insurance regulatory authorities yesterday an increase of 19.5 per cent of auto insurance premiums for those with the worst records of conduct, but insurance executives, said the increase was far below what was needed. The insurer had requested an increase of nearly 80 percent say their losses have
Home, auto insurance too high, consumer groups say
Supported by Blum, Phil Grummanite Levittown, "says the owner of the insurance premium on his coat has improved a little bit but this year - $ 844 from the previous year to 907 dollars. But there was a snag: its share for the damage caused by the hurricane. And he is
News: Google, Yahoo!, IBM, Attend Search Engine Strategies (SES) New York Event
New York, NY - (web hosting Directory) - March 26, 2008 - Search Engine Strategies (SES) hosted a perception of sales executives recently at an event in New York to participate in the education of tracks offer an in-depth study of local research, advertising, the site and conversion technology, inter