end of page
National Life Group announced its financial results for 2008, highlighted by overall sales growth of 53 percent.
Mehran Assadi, president and chief executive officer, said that in 2008 annuity sales increased 41 percent, life
sales were up 16 percent, and sales of mutual funds through Sentinel Investments jumped 115 percent.
'These are exceptional results,' said Assadi. 'This is a remarkable endorsement of the value of our products, the success of our strategy and the power of the National Life story.'
'For 160 years we have talked about our heritage, our prudent investment strategy, the benefits of our mutual structure and our focus on our core business,' said Assadi. 'In the past year we have seen a greater appreciation for the value of a company that sticks to its strengths and takes a long-term view.'
'We have not been immune to the turbulence in the markets and, like other investors, we experienced some losses. Our investments, however, are broadly diversified,' he said. 'We remain strong.'
For the year ending Dec. 31, 2008, National Life reported revenues of $1.1 billion, and net income of $15.4 million.
Assets under management dropped from $20.1 billion in 2007 to $19.5 billion in 2008.
The company experienced net realized investment losses of $59.2 million.
Insurance in force increased from $57.4 billion in 2007 to $59.4 billion in 2008.
The company's statutory surplus stood at $792 million as of Dec. 31, 2008.
Mehran Assadi, president and chief executive officer, said that in 2008 annuity sales increased 41 percent, life
sales were up 16 percent, and sales of mutual funds through Sentinel Investments jumped 115 percent.
'These are exceptional results,' said Assadi. 'This is a remarkable endorsement of the value of our products, the success of our strategy and the power of the National Life story.'
'For 160 years we have talked about our heritage, our prudent investment strategy, the benefits of our mutual structure and our focus on our core business,' said Assadi. 'In the past year we have seen a greater appreciation for the value of a company that sticks to its strengths and takes a long-term view.'
'We have not been immune to the turbulence in the markets and, like other investors, we experienced some losses. Our investments, however, are broadly diversified,' he said. 'We remain strong.'
For the year ending Dec. 31, 2008, National Life reported revenues of $1.1 billion, and net income of $15.4 million.
Assets under management dropped from $20.1 billion in 2007 to $19.5 billion in 2008.
The company experienced net realized investment losses of $59.2 million.
Insurance in force increased from $57.4 billion in 2007 to $59.4 billion in 2008.
The company's statutory surplus stood at $792 million as of Dec. 31, 2008.
2008 Sales Results From National Life Group Announced
