First Executive Corp.’s 1988 earnings increased 15%...

First Executive Corp.’s 1988 earnings increased 15% to $205 million. Revenue fell 12% to $3 billion. The Los Angeles life insurance holding company said the results were in part because of a buildup in the value of the assets it controls, which increased from $16.4 billion at the beginning of 1988 to $18.2 billion at year-end.