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 2014, Equitable Life realized earnings of $52.4 million which resulted in a return on policyholders’ equity of 12.5%. These earnings also led to a continued high Minimum Continuing Capital and Surplus Requirements (MCCSR) ratio of 210%, evidence of Equitable Life’s strong and stable capital position.
As in previous years, Equitable Life's investment portfolio performed extremely well in 2014. Our conservative approach continues to provide ongoing stability and growth.
Equitable Life’s financial strength and stability was matched by solid growth. The Company realized a new high of $758 million for premiums and deposits and surpassed $3.3 billion in assets under administration.
On the sales front, the Individual line of business hit a record high of $51.6 million in new annualized premiums, a 12% increase from $45.9 million in 2013. The Group line of business faced a challenging year, bringing in $23.5 million in sales. The Savings and Retirement line of business had a successful year, with sales increasing by 21% over the prior year to $223 million.
2014 Financial highlights
- Net income of $52.4 million, for a return on policyholders' equity of 12.5%.
- Participating policyholders' equity increased to $446 million.
- Capital strength, as measured by the MCCSR ratio, ended the year at 210%.
- Premiums and deposits increased by 11.1% to $758 million.
- Assets under administration grew 9.0% to $3.3 billion.