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

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 all life insurers operating in the United States today.

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

Highlights from these affirmations include:

Moody’s Investors Service – Rating of Aaa (Highest), affirmed June 14, 2022

• Leading position in the U.S. life insurance market and well-known brand name
• 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 outstanding capitalization

Standard & Poor’s – Rating of AA+ (Highest for a U.S. life insurer), affirmed July 29, 2022

• 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
• Mutual status, strength, and stability of earnings
• Excellent capital and earnings

A.M. Best – Rating of A++ (Highest), affirmed September 14, 2022

• 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 flow

Fitch Ratings – Rating of AAA (Highest), affirmed October 18, 2022

• 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

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

• Moody’s Investors Service
• Standard & Poor’s
• A.M. Best
• Fitch Ratings

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

¹Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/23/2022. For methodology, please see http://fortune.com/fortune500/.

²Individual independent rating agency commentary as of 10/18/2022: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).

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