Abstract: New York Life Insurance Company, received different types of insurance ratings, from A.M. Best Co. Financial Strength Rating, Issuer Credit Rating and Debt Ratings are the most significant among them.
New York Life Insurance Ratings by A.M. Best as a whole reflect the financial strength of
New York Life Insurance Company.
The ratings that A.M. Best Co. assigned to New York Life Insurance Company are the following:
New York Life Insurance Company got an A++ in its' Financial Strength Rating (FSR).
The company received a rating of “aaa” in its' Issuer Credit Ratings (ICR).
These ratings were assigned to not only New York Life Insurance Company, but also to the wholly owned subsidiary companies of New York Life Insurance Company, including NYLIFE Insurance Company of Arizona and New York Life Insurance and Annuity Corporation. It can be mentioned here, that, NYLIFE Insurance Company of Arizona is also known as New York Life.
New York Life Insurance Company received several other ratings from A.M. Best Co. in respect of different programs. The most significant of them are the following:
A.M. Best Co. assigned “aaa” Debt Ratings for the FABS (Funding Agreement Backed Securities) programs.
The company assigned “aa” Debt Ratings for the existing surplus notes of NYLIFE Insurance Company of Arizona.
A.M. Best Co. assigned the rating of “AMB-1+” for the commercial paper program of NYLIFE Insurance Company of Arizona.
These insurance ratings, received by New York Life Insurance Company reflects the following facts:
The company possesses a very strong market position.
The company carries a very favorable and credit worthy liability profile.
It possesses an efficient risk-adjusted capitalization.
The company successfully generates solid operating earnings.
It continues to produce strong sales growth.
It can be mentioned here, that, New York Life Insurance Company is the biggest mutual insurance company of USA. As on 31st December 2007, the company recorded an asset level of $180 billion under its consolidated statutory assets.