The state’s biggest life insurance company saw its income and profits rise in 2007.
The Savings Bank Life Insurance Company of Massachusetts sold $9.4 billion of ordinary life insurance in 2007. Its net income for 2007 increased to $8.7 million, from $8.5 million in 2006.
The company attributed much of its growth to expansion beyond Massachusetts, with about 37 percent of its first-year level term premiums derived from out of state.
