NEW YORK -- New York Life Insurance Co. Thursday reported a 1981 net operating gain before dividends of $761 million, a 15 percent increase from $662 million reported for 1980.
Individual life insurance sales accounted for $19.1 billion, up 2.2 percent. Group life insurance rose sharply to $6.9 billion, an increase of more than 200 percent.
New York Life's total new premiums from the sale of all products last year amounted to $713.3 million, an increase from 1980 of 45.4 percent. Total premium income, including both both new and renewal policies, totaled $3 billion, a gain of 9.9 percent. Total assets climbed to $21.1 billion, a $1.4 billion increase.
Dividends distributed to policyholders amounted to $631.8 million, up 9.5 percent from 1980.