-

New York Life’s Industry-Leading Financial Strength Ratings Affirmed by All Major Ratings Agencies

NEW YORK--(BUSINESS WIRE)--New York Life, America’s largest mutual life insurer1, today announced that major ratings agencies Standard & Poor’s, Fitch Ratings, A.M. Best, and Moody’s Investors Service have all affirmed New York Life as maintaining the highest possible ratings for financial strength.

New York Life continues to maintain the highest financial strength ratings currently awarded to any insurer by all four of the major rating agencies, out of all life insurers operating in the United States today.

Standard & Poor’s affirmed New York Life’s rating of AA+, the agency’s highest rating for a U.S. life insurer, in August. In October, Fitch Ratings and A.M. Best affirmed New York Life’s financial strength rating of AAA and A++, respectively – each firm’s top possible rating. Moody’s Investors Services affirmed New York Life’s financial strength of Aaa, the agency’s top rating, in November.

Highlights from these affirmations include:

Standard & Poor’s – Rating of AA+ (Highest for a U.S. life insurer), affirmed August 10, 2023

  • Excellent competitive position and financial risk profile
  • Strong brand recognition
  • Top market positions in the U.S. individual life insurance industry, propelled by a successful, controlled distribution model
  • Excellent capital and earnings

Fitch Ratings – Rating of AAA (Highest), affirmed October 6, 2023

  • Leading market position in U.S. individual life insurance market
  • Extremely strong capital
  • Diversified liability profile
  • Loyal and productive career agency distribution channel
  • Leading producer of participating whole life insurance

A.M. Best – Rating of A++ (Highest), affirmed October 19, 2023

  • Very strong operating performance and very favorable business profile
  • Strong risk-adjusted capital
  • Very strong and established industry-leading managerial career agency distribution channel
  • Strong brand recognition and leading market position in retail life and guaranteed income and fixed deferred annuities, with a continued top-three ranked position in overall U.S. individual annuity sales and lead position in U.S. retail life sales as of year-end 2021
  • A well-diversified investment portfolio with a consistent approach towards credit risk and cash

Moody’s Investors Service – Rating of Aaa (Highest), affirmed November 17, 2023

  • Top-tier position in the domestic individual life insurance business; leading position in group life and disability insurance
  • Large block of individual life insurance containing significant embedded profits
  • Productive and well-established career agency distribution force
  • Well-diversified investment portfolio, strong liquidity, and strong capitalization

The agencies’ complete and current public commentaries on New York Life are available through the links below.

ABOUT NEW YORK LIFE

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest1 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 Life’s family of companies offers life insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.2

1 Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/5/2023. For methodology, please see http://fortune.com/fortune500/.

2 Individual independent rating agency commentary as of 11/17/2023: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).

 

Contacts

Kevin Maher
New York Life
(212) 576-6955
kevin_b_maher@newyorklife.com

Industry:

New York Life Insurance Company

Release Versions
English

Contacts

Kevin Maher
New York Life
(212) 576-6955
kevin_b_maher@newyorklife.com

More News From New York Life Insurance Company

Employees Desire Supplemental Health Benefits Amidst Rising Healthcare Costs, New York Life Survey Finds

NEW YORK--(BUSINESS WIRE)--As open enrollment season for employees across the U.S. begins, a new survey from New York Life's Group Benefit Solutions highlights the crucial role of supplemental health insurance in employees' financial well-being and overall peace of mind. "Our survey has identified a strong link between supplemental health benefits and employees' sense of financial well-being. As healthcare costs rise and employees are shouldering more out-of-pocket costs, supplemental health be...

New York Life Wealth Watch survey: Professional guidance plays crucial role in financial preparation for life events

NEW YORK--(BUSINESS WIRE)--New York Life’s latest Wealth Watch survey finds that American adults overwhelmingly report they are not financially preparing for major life events like purchasing a home, starting a family, changing careers, or retirement. Half of adults who are currently preparing for a major life event say their biggest challenge is not having enough money. Only 40% of pre-retirees—those between five and 10 years away from their desired retirement age—say they are financially prep...

New York Life Foundation’s 2024 State of Grief Report Reveals Ongoing Need and Growing Want for Holistic Bereavement Support in Workplaces, Schools, and Communities

NEW YORK--(BUSINESS WIRE)--Annually commissioned by the New York Life Foundation to evaluate the bereavement landscape, the 2024 State of Grief Report highlights not only the ongoing need, but also a growing desire, for holistic help and support for those experiencing grief in workplaces, schools, and communities. “Grief is a natural experience, yet a topic not widely discussed,” said Heather Nesle, president of the New York Life Foundation, one of the largest corporate funders of bereavement s...
Back to Newsroom