AM Best Maintains Credit Ratings for New York Life Insurance Company and Its Subsidiaries

AM Best has reaffirmed New York Life Insurance Company, New York Life Insurance and Annuity Corporation (NYLIAC), Life Insurance Company of North America (LINA), New York Life Group Insurance Company of NY (NYLGICNY), and NYLIFE Insurance Company of Arizona with a Financial Strength Rating of A++ (Superior) and Long-Term Issuer Credit Ratings (Long-Term ICRs) of “aaa” (Exceptional). All entities, collectively referred to as New York Life, are based in New York, NY. Additionally, AM Best affirmed the Long-Term ICRs of “aaa” (Exceptional) for New York Life Global Funding and New York Life Funding.

The ratings highlight New York Life’s strongest balance sheet strength, very strong operating performance, highly favorable business profile, and robust enterprise risk management. These affirmations underscore New York Life’s ability to maintain strong capital levels, financial flexibility, and consistent earnings, demonstrating resilience in varying market conditions. The group’s diversified revenue streams, bolstered by strong agency sales and a profitable mix of annuities, life insurance, and employee benefits, further support its very favorable business profile.

AM Best has also assigned stable outlooks to the Long-Term Issue Credit Ratings (Long-Term IRs) for various funding agreement-backed securities programs and existing surplus notes of New York Life Insurance Company. This includes affirmations of “aaa” (Exceptional) ratings for specific senior secured-fixed rate notes and surplus notes across different maturity dates, reflecting continued stability and financial strength.

For more detailed information on the specific Long- and Short-Term IRs assigned, please refer to AM Best’s website. These ratings affirmations underscore New York Life’s commitment to maintaining its strong financial position and operational excellence.

Source Link

Newsletter Updates

Enter your email address below and subscribe to our newsletter