New York Life maintains highest possible ratings for financial strength from four major rating agencies

NEW YORK, September 13, 2017—New York Life, America’s largest mutual life insurer, today announced that all four major ratings agencies—A.M. Best, Fitch Ratings, Moody’s Investors Service, and Standard & Poor’s—have once again affirmed that the company holds the highest possible ratings for financial strength. Out of the 800 life insurers in the United States, New York Life remains one of only two life insurers awarded the highest possible financial strength ratings by all four major rating agencies.

In June, Fitch Ratings affirmed New York Life’s financial strength rating of AAA, its highest possible rating. In July, both A.M. Best and Standard & Poor’s affirmed New York Life’s A++ and AA+ ratings, respectively—each rating firm’s highest possible score. Finally, in August, Moody’s Investors Service affirmed the company’s Aaa rating, its top rating.

The major rating agencies identified numerous strengths of New York Life in affirming the company’s ratings this year. These include:

A.M. BEST—RATING OF A++ (HIGHEST) AFFIRMED JULY 20, 2017

• Strength of career agency distribution force;
• Market position among the leaders in the life insurance industry;
• Excellent risk-adjusted capitalization;
• Consistent operating earnings;
• Favorable liability profile; and
• Commitment to mutuality.

FITCH RATINGS—RATING OF AAA (HIGHEST) AFFIRMED JUNE 27, 2017

• Market leadership in the U.S. life insurance market;
• Extremely strong capitalization and conservative operating profile;
• Strong brand recognition;
• Well-established market position;
• Effective career distribution system; and
• Stable block of participating whole life insurance.

MOODY’S INVESTORS SERVICE—RATING OF AAA (HIGHEST) AFFIRMED AUGUST 1, 2017

• Leading position in the U.S. life insurance market and strong brand and franchise;
• Policyholder dividend mechanism that allows New York Life to share product and investment experience with policyholders;
• Stable profitability and a resilient balance sheet;
• Mutual structure that fosters alignment of policyholder interests with those of New York Life’s creditors and management; and
• Well diversified distribution channel and strong capital base.

STANDARD & POOR’S—RATING OF AA+ (HIGHEST FOR LIFE INSURERS) AFFIRMED JULY 14, 2017

• Extremely strong competitive position with wide brand recognition;
• Career agency force with significant size, market penetration and productivity;
• Consistently strong capital adequacy;
• Mutual status; and
• Strong management and governance.

FOR THE AGENCIES’ COMPLETE AND CURRENT PUBLIC COMMENTARY ON NEW YORK LIFE, CLICK HERE:

• A.M. Best
• Fitch
• Moody’s
• Standard & Poor’s

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 currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s & (AA+).** 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 retail mutual funds. Please visit New York Life’s website at www.newyorklife.com for more information.

* Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/12/17. For methodology, see http://fortune.com/fortune500/.

** Individual independent rating agency commentary as of 8/1/17.

*** 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.