2008 Financial Information

In 2008, New York Life’s operating revenues and operating earnings set new records for the company, at $14 billion and $1.3 billion respectively. Sales of insurance and investment products also surpassed all previous records, with total insurance sales increasing 13 percent over 2007 to more than $2.4 billion and investment sales rising to more than $26.6 billion.

As a result of the weak equity and credit markets, surplus declined in 2008 to $12.8 billion. However, surplus is a buffer of safety for our policyholders – a rainy day fund that is serving its intended purpose in this period of global economic stress. Having built up our surplus by $6 billion over the prior six years, we have more than enough capital to achieve our strategic objectives and maintain a healthy cushion of safety, without the need to sell assets or seek government assistance.

You can learn more about New York Life’s financial performance, business strategies and newest products by clicking on the links to the right.

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