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Article: Savings Bank Life Insurance Company Announces 1996 Financial Results
- Article from:
- PR Newswire
- Article date:
- April 8, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sets Record for Life Insurance Sales
WOBURN, Mass., April 8 /PRNewswire/ -- The Savings Bank Life Insurance Company of Massachusetts today announced that it achieved continued strong operating results in 1996, a year in which the company wrote new life insurance policies with a record face amount of $2.1 billion, increasing SBLI's total insurance-in-force to $17.2 billion.
In 1996, premium income from SBLI's core business, ordinary life insurance, increased by $4.6 million, to $89.0 million. Total revenues grew to $186.9 million in 1996, up from $180.1 million in 1995.
SBLI's net income for 1996 was $11.7 million, ...