At Equitable Life, we take a conservative approach to risk, and focus on longer term strategies that foster ongoing stability and growth for our policyholders and business partners.
In 2015, Equitable Life realized earnings of $53.8 million, which resulted in a return on policyholders’ equity of 11.4%. With these earnings, the Company was able to achieve a Minimum Continuing Capital and Surplus Requirements ratio of 216%, up from 210% in 2014.
These earnings were supported by Equitable Life’s investment portfolio which performed well in 2015; the Company’s conservative approach continues to provide ongoing stability and growth.
Equitable Life also experienced continued and steady growth. The Company achieved a new high of $810 million for premiums and deposits and reached $3.5 billion in assets under administration.
Notable achievements in sales across all three lines of business supported the Company’s growth. The Individual line of business achieved $58.1 million in new annualized premiums. This represents a 13% increase over the past year and extends a trend of greater than 12% growth for the past three years. The Group line of business experienced a positive turnaround in 2015, finishing the year with $43.8 million in sales, representing an 86% increase over last year’s results. As well, the Savings and Retirement line of business also had a successful year, marking Equitable Life’s highest ever sales results for segregated funds in particular. Sales for Savings and Retirement overall reached $230 million, a 3% increase over last year.
2015 Financial highlights
- Net income of $53.8 million, for a return on policyholders' equity of 11.4%.
- Dividends to participating policyholders increased by 15% to $17.9 million.
- Participating policyholders' equity increased to $500 million.
- Capital strength, as measured by the MCCSR ratio, ended the year at 216%.
- Premiums and deposits increased by 6.8% to $810 million.
- Assets under administration grew 4.7% to $3.5 billion.
- Segregated fund assets exceeded $1 billion.
- Sales in all lines of business exceeded last year.