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New York Life Insurance Company

In: Business and Management

Submitted By yueseyuese
Words 311
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New York Life Insurance Company began in 1845 when, after the foundation was laid for a new enterprise that would come to be known as the New York Life Insurance Company, Elected Secretary Lewis Benton purchased the first policy for $5,000. So began a legacy of security and a commitment to keeping promises reflected still today in our core values.

That passion and commitment to protection has continued unabated for nearly two centuries — seeing the nation evolve and events take place affecting the lives of Americans: from the Civil War, to the Johnstown floods in 1889, to the 1929 stock market crash, to Hurricane Katrina in 2005, 9/11, and of course, the recent recession.

New York Life Insurance Company is one of the largest mutual life insurance companies in United States, and one of the largest life insurers in the world, with about $287 billion in total assets under management. The company ranks No.71 on the 2011 Fortune 100 list, making it the highest privately held insurance company on that list. In 2007, NYLIC achieved the best possible ratings by the four independent rating companies (Standard & Poor's, AM Best, Moody's and Fitch). In June 2009, the same four rating companies reaffirmed New York Life's "superior" financial strength, which became a selling point in national TV ad campaigns that same year. The company is now one of only three life insurers to hold the highest ratings currently awarded to any life insurer by all four rating agencies (Moody's: Aaa, A.M. Best: A++. Standards & Poor's: AA+, Fitch: AAA. All of these are for financial strength. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

Related Research Links: http://www.newyorklife.com/about/celebrating-years-strength http://money.cnn.com/magazines/fortune/fortune500/2011/full_list/

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