Founded in 1845, New York Life Insurance Company is a mutual company, which means the management team has one overriding objective: to serve the needs and priorities of the policyholders. Unlike a stock company, which must weigh the interests of policyowners against the short–term expectations of shareholders, New York Life's only interest is the financial well being of its policyholders.
Today, New York Life is the largest* mutual life insurance company in the United States. New York Life answers only to the families we serve. We are not subject to the pressures of shareholders and do not have to take aggressive risks to meet Wall Street’s expectations.
New York Life:
- Is managed solely for the benefit of its policyholders.
- Possesses the highest financial strength ratings:
- rated AAA by Standard & Poor's
- rated Aaa by Moody's
- rated AAA by Fitch
- rated A++ by A.M. Best
Standard & Poor’s – Rating of AAA (highest) affirmed July 7, 2010
• Noted the exceptional quality of the company's career agency force, its very strong risk based capital position, its very strong operating earnings, and its growing presence in international markets;
• The company’s superior brand and competitive position in individual life and annuities;
• Sustained extremely strong competitive position and business profile, even in the current harsh economic environment;
• The group's financial profile remains very strong despite relative pressures from investment losses and capitalization;
• S&P considers New York Life to be one of the most respected names in the domestic life insurance business, characterized by a commitment to mutuality and its policyholders.
Moody’s – Rating of Aaa (highest) affirmed July 7, 2010
• Noted New York Life's continued leading position in the U.S. life insurance market, as well as on its significant financial flexibility and operational scale, earnings diversity, very strong liquidity, and outstanding capitalization;
• Stable and productive career-agency distribution system;
• Well-recognized and highly regarded brand name;
• Strong national and growing international presence;
• Significant embedded profitability in the existing book of business;
• Overall quality of New York Life's investment portfolio is excellent.*
Fitch – Rating of AAA (highest) affirmed July 7, 2010
• Noted New York Life’s very strong capital position and very strong capital adequacy;
• Very strong liquidity and more than adequate financial flexibility;
• Favorable business profile, characterized by its excellent market position in traditional individual life insurance and fixed annuity markets.
A.M. Best – Rating of A++ (highest) affirmed July 07, 2010
• Noted New York Life’s leading market position in U.S. life insurance;
• Highly productive career agency force;
• Superior risk adjusted capitalization;
• Commitment to mutuality;
• One of the most creditworthy liability profiles in the industry; New York Life's investment management capabilities are strong.
*New York Life is the largest mutual life insurance company based on the Fortune 500, ranked within industries, Insurance: Life, Health (Mutual), Fortune magazine, May 4, 2010.
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