Even in the face of unprecedented low interest rates, the company had strong operating performance and was able to enhance both its surplus and dividends through the strong performance of its investment subsidiary, New York Life Investments, and from the recent divestiture of several international operations. The company also has had better than expected persistency as policyholders maintain their policies in force despite the challenging economy, which speaks to the consumer appeal of New York Life’s strong ratings for financial strength.
“Our sales growth proves that people continue to believe in life insurance. When our agents meet face-to-face with people, they are finding more receptivity to how life insurance can help customers with important financial needs. This is why our sales continue to rise each year, despite a tough economy – and why our country needs career agents more than ever,” said Mark Pfaff, executive vice president in charge of Agency. For more information www.newyorklife.com