NEW YORK, August 18, 2010 - New York Life Insurance Company, America's largest mutual life insurance company, announced today that it has moved up forty-eight positions to 221st place from last year's 269th position on Fortune magazine's annual ranking of the world's 500 largest corporations, based on 2009 revenue.*
New York Life's revenues grew by more than eight percent in 2009, up $2.6 billion to $34 billion. The company remains the largest mutual life insurer in the nation and the second largest U.S. life insurer by revenue according to Fortune magazine's Fortune 500 list. The company currently ranks 64th on Fortune's list of America's largest corporations**.
Ted Mathas, chairman and CEO of New York Life, said, "The company's move up the Fortune Global 500 list is yet another validation of New York Life's 165-year tradition of managing for our policyholders' safety and security. The global financial crisis has reinforced for many in the U.S. and around the world the importance of financial security and peace of mind, and that it matters which company is standing behind the promises it makes."
New York Life is celebrating the 165th anniversary of its founding this year. The company was also recently named the Most Admired Life Insurer in Fortune magazine's annual survey of the "World's Most Admired Companies."***
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. 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 Investments**** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.
Please visit New York Life's Web site at www.newyorklife.com for more information.
* Fortune magazine, July 26, 2010.
** Fortune magazine, May 3, 2010.
*** Fortune magazine, March 22, 2010.
****New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.
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|New York Life Jumps 48 Positions to 221st on Fortune Global 500 List|