Boom times continue for New York Life

Continuing its winning
streak, New York Life (NYL) has reported a 47% increase in
individual life insurance sales in the first three quarters of 2010
compared with the same period in 2009, which was a record first
nine months for the US’ largest mutual insurer.

“These sales figures reflect
the phenomenal effort by the company’s 11,500 agents who have
delivered a record setting performance again this year,” said the
head of NYL’s US life and agency operations, Mark Pfaff.

According to financial
services organisation LIMRA International, based on second quarter
2010 sales, NYL has the largest share of US new life insurance
premium income. LIMRA based its calculation on recurring premium
and 100% of single premiums.

Building on its success, the US’ largest mutual insurer
has launched a new advertising campaign aimed at financial advisers
called ‘Let’s Give Americans Their Pensions Back’ as the first step
in a multi-year campaign.

Sign up for our daily news round-up!

Give your business an edge with our leading industry insights.

Sign up