New York Life - Built for Times Like These.

Right now, the world has never seemed more uncertain. The COVID-19 pandemic has plunged us all into uncharted territory – challenging our health, our livelihoods, our economies, and our social structures.

None of us know exactly what’s coming next. For anyone planning their financial future, it’s essential to choose a partner that’s successfully weathered what’s come before.

Commitment built on experience

New York Life has been successfully navigating the unexpected for 175 years.

From the yellow fever epidemics of the 19^th century to the great pandemic of 1918, two world wars, the Great Depression, and the Financial Crisis of 2008-09, we’ve steered our customers through some of the toughest times in history – and we’re well-positioned to do so again.

We can promise to be here for all our policy owners and customers in these challenging times and the years ahead because of who we are and what we offer:

• The largest mutual insurance company in the United States¹ – 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 participating policy owners for 166 consecutive years². In 2019, we announced a company record $1.9 billion total dividend payout to eligible policy owners in 2020. We’re the only major U.S. mutual life insurer to declare a record total dividend payout in each of the past six years³. That’s our mutuality in action.
• 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 insurer⁴. Our ability to meet our financial commitments is seen by these independent analysts as being extremely strong – even when taking a global health crisis and exceptional economic and market circumstances into account.
• Well-diversified as both a business and investor – Both our business and investment portfolio 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, avoiding outsized stakes in any one investment and ensuring enough liquidity (available cash) to meet our obligations to policy owners, year after year.
• 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, in carefully balancing what we earn against the promises we’ve made, we have accumulated a company record surplus of nearly $27 billion⁵ This provides an additional cushion of support to the reserves already set aside to meet our future obligations. But we’re never complacent about our financial strength. By regularly ‘stress testing’ our financial position against various market scenarios, our policy owners can be confident that we’re solidly positioned to meet the financial commitments we’ve made to them – now and in the future.

Built for times like these

During the global financial crisis in 2008, New York Life Chairman and CEO Ted Mathas said, “We were built for times like these.” Our ability to weather the economic impact of that event was grounded in our prudent business strategy.

Today, New York Life –stands as secure and resilient as we have for generations. Our mutuality, without the distraction of outside shareholders, allows us to maintain a long-term view and stay rooted in our core values of financial strength, humanity and integrity. With a strong capital position, ample financial surplus, and one of the industry’s most diversified business and investment portfolios, we will continue to be there for our policy owners and customers, whatever lies ahead.

New York Life is, indeed, built for times like these.

^{BUILT FOR TIMES LIKE THESE is a trademark of New York Life Insurance Company.
SMRU 1851847 (Exp.09.30.20)}

¹ Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune, 6/1/19. For methodology, please see http://fortune.com/fortune500/.
² Dividends are not guaranteed. New York Life Insurance Company is a mutual company and issues participating policies, and it has wholly owned stock subsidiaries that also issue policies and those are not participating. Source: NAIC Annual Statement for applicable year.
³ Based on publicly available information on New York Life’s peer mutual U.S. life insurers. This peer group comprises major mutual U.S. insurance companies for whom life insurance is their primary focus and primary line of business, and whose dividend information is made publicly available.
⁴ Individual independent rating agency commentary as of 9/12/19: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).
⁵As of December 31, 2019, New York Life Insurance Company has a statutory consolidated surplus and asset valuation reserve of $26.97 billion. You can view all audited statutory financial statements for New York Life at https://www.newyorklife.com/report-to-policy-owners.

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