New York Life’s robust strength and stability means we are built for times like these.

New York Life Building

New York Life | April 8, 2020

The unfolding impacts of the collapse of Silicon Valley Bank introduced much uncertainty within the financial services industry and beyond. Many people are questioning the strength of the institutions where they do business and work.

At New York Life, we have been successfully navigating the unexpected for 178 years. We’ve steered our customers through some of the toughest times in history, from the Civil War to the Great Depression to the recent pandemic – and we’re well-positioned to continue to do so.

As New York Life CEO & President Craig DeSanto said in the company's 2022 financial results, “Despite ongoing economic uncertainty, New York Life’s financial strength is as robust as ever and we remain exceptionally well-positioned to manage through any environment.”

As a mutual company, New York Life does not answer to Wall Street or shareholders, allowing us to maintain a long-term view and stay rooted in our core values of financial strength, humanity, and integrity.

Our strong capital position, ample surplus – capital above and beyond the reserves already set aside to pay the benefits the company promises – and diversified business and investment portfolios enable us to continue to be there for those who rely on us, whatever lies ahead.

We can make this promise because of who we are and what we offer:

  • Unsurpassed financial strength ratings for our industry 
    • All four of the major credit rating agencies (Standard & Poor's, AM Best, Moody's, and Fitch) have awarded us the highest financial-strength ratings currently given to any U.S. life insurer1.
    • Our ability to meet our financial commitments is seen by these independent analysts as being extremely strong.
  • Well-diversified as both a business and investor
    • Both our business and investment portfolios are characterized by strong diversification.
    • Our core life insurance franchise is complemented by a diverse portfolio of strategic businesses that can generate dependable earnings throughout the economic cycle.
    •  Likewise, in our investment portfolio, we focus on long-term stable returns that match our liabilities.
    • We avoid outsized stakes in any one investment and ensure enough liquidity (available cash) to meet our obligations to policy owners, year after year.
    • In addition, we have abundant access to other forms of liquidity as well.
  • A resilient, well-capitalized balance sheet
    • The benefit of our conservative and prudent approach is a balance sheet that’s able to withstand shocks of all kinds.
    • For example, we have accumulated a strong $30.1 billion surplus2 by carefully balancing what we earn against the promises we’ve made.
    • This provides an additional cushion of support to the reserves already set aside to meet our future obligations.
    • We’re never complacent about our financial strength. By regularly ‘stress testing’ our financial position against various market scenarios, our policy owners and clients can be confident that we’re solidly positioned to meet the financial commitments we’ve made to them – now and in the future.
  • The largest mutual insurance company in the United States3
    • As a mutual company, we’ve always operated in the best interests of our policy owners, not external shareholders.
    • We are exclusively focused on meeting our financial commitments to our policy owners without being distracted by the need to answer to outside investors. In tough times, our mutuality has always held us and our customers in good stead.
    • This includes our ability to pay dividends to our eligible participating policy owners for 169 consecutive years4.

New York Life is built for times like these.


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Media contact

Kevin Maher
New York Life Insurance Company
(212) 576-7937

1Individual independent rating agency commentary: A.M. Best A++ (as of 9/14/22), Fitch Ratings AAA (as of 10/18/22), Moody’s Aaa (as of 6/14/22), and Standard & Poor’s AA+ (as of 7/29/22).

2Total surplus, which includes the asset valuation reserve (AVR), is one of the key indicators of the company’s long-term financial strength and stability and is presented on a consolidated basis of the company. New York Life Insurance Company (NYLIC)’s statutory surplus was $23.89 billion and $24.57 billion at December 31, 2022 and 2021, respectively. Included in NYLIC’s statutory surplus is New York Life Insurance and Annuity Corporation’s (NYLIAC)statutory surplus totaling $8.54 billion and $9.73 billion at December 31, 2022 and 2021, respectively, and Life Insurance Company of North America’s (LINA) statutory surplus of $1.65 billion and $1.67 billion at December 31, 2022 and 2021, respectively. AVR for NYLIC was $4.23 billion and $4.17 billion at December 31, 2022 and 2021, respectively. AVR for NYLIAC was $1.89 billion and $1.87 billion at December 31, 2022 and 2021, respectively. AVR for LINA was $0.09 billion and $0.08 billion at December 31, 2022 and 2021, respectively. LINA is not authorized in New York and does not conduct insurance business in New York.
You can view audited 2022 statutory financial statements by visiting our website, www.newyorklife.com, beginning in mid-March 2023

3Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/23/2022. For methodology, please see http://fortune.com/fortune500/.

4Dividends are not guaranteed. New York Life Insurance Company is a mutual company that issues participating products that are eligible for dividends, but is also the parent of subsidiaries which issue non-participating products. The participating products are invested in separate and distinct portfolios and have their own dividend scales.