One Company,
One Purpose

A Message From

Paul A. Quaranto, Jr., MBA, LLIF Chairman and President

Paul shares his thoughts on how the power of many paves the way to success.

Watch the Video Read the Letter

Our Year

Working together, improving together

Created Strategic Business Centers
Our Structure

Created Strategic Business Centers

In order to sustain profitable growth, remain competitive, and ensure we are best positioned to deliver on our commitments to our policyholders and each other, we continually strive for a more efficient combination of people, processes, and technology.

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Jim Jacobsen appointment to Executive VP of Distribution
Our Talent

Jim Jacobsen appointed to Executive VP of Distribution

As an ongoing part of our efforts to support future growth, we’re always looking for experienced talent. In 2017, one of those additions included Jim Jacobsen, who joined in a new executive position that directly supports our continued efforts to drive sales and expansion efforts moving forward.

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A.M. Best Rating “A” (Excellent)
Our Rating

A.M. Best Rating “A” (Excellent)

In 2017 A.M. Best, the oldest and most authoritative insurance rating and information source, upgraded our financial strength rating (FSR) from “A-“ (Excellent) to “A” (Excellent), with a Stable outlook.

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2017 Financials

Financial1

Over $150 million in assets

Financial2

Excellent balance sheet with low-risk and high-quality assets and liabilities

Financial3

Surplus is over $30 million

Income Dollars in Thousands

Year Ended December 31
2017 2016
Premium income $22,618 $21,959
Net investment income 6,203 6,055
Other income 1,546 1,623
TOTAL INCOME 30,367 29,637
POLICYHOLDER BENEFITS AND EXPENSES
Life insurance benefits 3,299 3,321
Accident & health benefits 3,274 3,605
Other policy benefits 5,002 5,272
Increase in reserves 6,880 6,423
Commissions 4,242 4,027
General expenses 4,380 3,480
Taxes other than federal income taxes 882 686
TOTAL BENEFITS & EXPENSES 27,959 26,814
GAIN FROM OPERATIONS $2,408 $2,823
Federal Income Tax Expense 899 1,271
NET GAIN FROM OPERATIONS $1,509 $1,552

Assets Dollars in Thousands

Year Ended December 31
2017 2016
Bonds $103,662 $97,589
Preferred stocks 0 0
Common stocks 3,718 2,129
Policy loans 28,944 27,751
Cash & short term securities 4,109 4,082
Premiums deferred and uncollected 5,202 4,875
Other assets 4,726 4,966
TOTAL ASSETS $150,361 $141,392

Liabilities and Surplus Dollars in Thousands

Year Ended December 31
2017 2016
Policy reserves $112,589 $105,710
Policy & contract claims 1,246 1,448
Other liabilities 6,406 5,361
TOTAL LIABILITIES $120,241 $112,519
Stockholder’s Equity 30,120 28,873
TOTAL LIABILITIES & STOCKHOLDER’S EQUITY $150,361 $141,392

Assets Dollars in Thousands

Year Ended December 31
  • $117,263
    2013
  • $124,054
    2014
  • $130,381
    2015
  • $141,392
    2016
  • $150,361
    2017

Our Future

Leveraging our strengths and staying focused and disciplined, we’ll continue to evolve to be there for our customers, our communities, and each other. At Life Insurance Company of Boston & New York, we’re one company, working together, working for you.