NEW YORK–(BUSINESS WIRE)–Oct 3, 2018–New York Life, Americaâ€™s largest mutual life insurer, announced today that major ratings agencies â€“ Fitch Ratings, Standard & Poorâ€™s and A.M. Best â€“ have affirmed that New York Life maintains the highest possible ratings for financial strength. The company also holds the highest financial strength rating from Moodyâ€™s Investors Service, as of its recently released credit opinion.
New York Life remains one of only two life insurers with the highest financial strength ratings currently awarded to any insurer by all four of the major rating agencies, out of 800 life insurers operating in the United States today.
In June, Fitch Ratings and Standard & Poorâ€™s affirmed New York Lifeâ€™s financial strength rating of AAA and AA+, respectively â€“ each firmâ€™s top possible rating. Also, in July, A.M. Best affirmed New York Lifeâ€™s financial strength rating of A++, which is its highest rating. Moodyâ€™s Investors Serviceâ€™s financial strength rating of New York Life remains Aaa, its top rating, based on the agencyâ€™s most recent credit opinion dated July 30, 2018.
Highlights from these major ratings agencies affirming New York Lifeâ€™s financial strength, include:
Fitch Ratings â€“ Rating of AAA (Highest) Affirmed June 1, 2018
Leading market position in U.S. individual life insurance marketStrong brand recognitionWell-established market positionEffective career distribution systemStable block of participating whole life insurance
Standard & Poorâ€™s â€“ Rating of AA+ (Highest) Affirmed June 15, 2018
Extremely strong competitive position and financial risk profileWide brand recognitionCareer agency force with significant size, market penetration and productivityMutual status, strength and predictability of earningsStrong capital and earnings
A.M. Best â€“ Rating of A++ (Highest) Affirmed July 25, 2018
Very strong risk-adjusted capitalStability and strength of its career agency distributionMarket position among top leaders in the U.S. life insurance industryCreditworthy liability profiles
Moodyâ€™s Investors Service â€“ Rating of Aaa (Highest), as of its Credit Opinion Dated July 30, 2018
Leading position in the U.S. life insurance market and strong brandLarge block of individual life insurance containing significant embedded profitsProductive and well-established career agency distribution forceWell-diversified investment portfolio, strong liquidity, and outstanding capitalization
FOR THE AGENCIESâ€™ COMPLETE AND CURRENT PUBLIC COMMENTARY ON NEW YORK LIFE, CLICK HERE:
ABOUT NEW YORK LIFE
New York Life Insurance Company ( www.newyorklife.com ), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. Headquartered in New York City, New York Lifeâ€™s family of companies offers life insurance, retirement income, investments and long-term care insurance.Â New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies**.
*Based on revenue as reported by â€śFortune 500 ranked within Industries, Insurance: Life, Health (Mutual),â€ť Fortune magazine, 6/1/18. For methodology, please see http://fortune.com/fortune500/
**Individual independent rating agency commentary as of 7/30/2018: A.M. Best (A++), Fitch (AAA), Moodyâ€™s Investors Service (Aaa), Standard & Poorâ€™s (AA+)
View source version on businesswire.com:https://www.businesswire.com/news/home/20181003005071/en/
CONTACT: New York Life
Jason Weinzimer, 212-576-7260
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE
SOURCE: New York Life
Copyright Business Wire 2018.
PUB: 10/03/2018 10:00 AM/DISC: 10/03/2018 10:01 AM