COMPANY HISTORY
We have over 175 years of strength and security and look toward the future. It all began on April 12, 1845, when 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 still reflected today in our core values.
As President and Chairman (1907–1932) Darwin P. Kingsley said, “When will New York Life be finished? Never! Its foundations are as deep as human love; its spires disappear in unfulfilled dreams of human aspiration; its great arches support an expanding nave which can cover and protect all who come.”
That passion and commitment to protection have continued unabated for nearly two centuries. We've seen the nation evolve and events occur that have affected the lives of Americans: from the Civil War, to the 1906 San Francisco earthquake, to the 1929 stock market crash, to Hurricane Katrina in 2005, 9/11, and of course, the 2008 recession.
COMPANY STRENGTH
An insurance policy is only as good as the company behind it. To help consumers make intelligent decisions, independent services rate insurers. While the rating services use the same criteria to make their judgments, each focuses on a separate aspect of a company. New York Life Insurance Company and its subsidiary, New York Life Insurance and Annuity Corporation, have received the highest ratings currently awarded to any life insurer by all four major rating agencies as indicated below.
Moody's: Aaa for financial strength
Standard & Poor's: AA+ for financial strength
A.M. Best: A++ for financial strength
Fitch: AAA for financial strength
Financial Strength ratings are based on individual independent ratings agency commentaries as of 10/18/2022.
