2014 financial information.
New Milestones Reached for the First Time: Policyholder Benefits and Dividends Paid Exceeded $9 Billion; Operating Earnings Surpassed $2 Billion; AUM Exceeded $500 Billion
- Operating earnings achieved a new record high of $2.02 billion, an increase of 14.7 percent over 2013, marking the fifth consecutive year of record earnings
- Surplus and asset valuation reserve grew by $796 million to $21.9 billion, an all time high
- Assets under management increased to a new high of $541 billion in 2014
- Individual life insurance in force rose to a new record of $871 billion, $31 billion more than 2013, as a new sales record was set in 2014
- Dividends grew by more than 9 percent for the third consecutive year
- Policyholder benefits and dividends paid rose to $9.08 billion, up 5 percent
- The highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+)*
You can learn more about New York Life’s 2014 financial performance and its principal businesses by clicking on the links below.
- New York Life Report to Policyholders: Contains the answers to frequently asked questions about our company. 2014 Report to Policyholders
- New York Life Annual Report: 2014 Annual Report
- Management Statement Concerning the Annual Report:The Company has complied with the requirements of the NAIC Model Audit Rule regarding internal financial reporting. The requirements are similar to those required by the Sarbanes Oxley Act of 2002. 2014 AR Management Statement
- New York Life Insurance Company and Subsidiaries Consolidated Financial Statements (GAAP basis): Our financial results presented in a format consistent with generally accepted accounting principles. 2014 NYLIC and Subsidiaries Unabridged Consolidated Financial Statements (GAAP Basis)
- Reconciliation of Consolidated GAAP results to Non-GAAP Financial Measure (Operating Earnings): Operating Earnings
- Statutory Financial Information: As reported to applicable state insurance departments. 2014 Financial Information (Statutory Basis)
*Individual independent rating agency commentary as of 3/26/15.