By the end of 1999, the total assets managed by new york Life had reached130 billion USD. Its annual net income in 1999 was $550 million, excluding one-time income. The actual net income of the company 1999 reached 482 million USD, an increase of 3 1% compared with 369 million USD in 1998. The company's operating income from 1999 was 106 billion USD, and that from 1998 was 8.6 billion USD, up 23% year-on-year. Company surplus and investment reserve-funds for business development and protection of policyholders' interests increased by 975 million US dollars to 8.7 billion US dollars, an increase of 65,438+03%. The ratio of surplus, investment reserve and assets rose from 8.25% in 1998 to 9. 13% in 1999, which is one of the highest capital ratios in the industry. 20 12 Fortune Global 500 Ranked 3 17.
New york Life and its wholly-owned subsidiary, new york Life Insurance and Annuity Company, have been awarded four major financial evaluation institutions for many years: A.M.Best, Moody's, Standard &; Poole and Duff &; Phelps spoke highly of it. For more than ten years, with the participation of more than 10,000 executives, company directors and financial analysts, Fortune magazine has conducted a large-scale reputation survey on 4 1 major industries in the United States. New york Life has been among the best in this survey, and has been unanimously affirmed as a symbol of the best quality in the life insurance industry.
In addition, new york Life has many proud records. Since 1995, among all life insurance companies in the world, new york Life has obtained the membership of the "Million Yuan Roundtable" organized by international life insurance practitioners.
New york Life has 7,400 employees and 7,000 agents, covering 50 continents in the United States, forming an extensive sales and service network, and providing insurance and financial services to 6 million American families through more than 200 service organizations. In addition, new york Life also expanded its international business through its subsidiary, new york Life International Company. We provided policies and products of new york Life Insurance to Hong Kong Special Administrative Region, Indonesian, Korean, Taiwan Province, Mexican and Argentine, and extended its business to all parts of the world, covering more than 600 million people.
Although new york Life Insurance Company is a well-known economic service-oriented enterprise, it is not satisfied with its existing achievements and is still striving to develop. The company has a long history, strong economic strength, innovation and vitality. In 150, new york Life Insurance Company is still most concerned about the interests of customers. In order to meet the needs of customers and keep up with the pace of development, the company constantly develops new types of insurance, gives full play to product characteristics, provides quality services and adopts new technologies. Leading the times is the tradition of new york Life Insurance Company, which makes new york Life Insurance Company have the reputation of "the first company to do so".