Printer Friendly

DUFF & PHELPS: NEW YORK LIFE INSURANCE CO. AND NEW YORK LIFE INSURANCE AND ANNUITY CORP. CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'

 CHICAGO, July 19 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has reaffirmed the claims paying ability rating of New York Life Insurance Company (NYLIC) at `AAA' (Triple-A). The rating reflects the company's excellent asset quality, stable and profitable business mix, conservative operating leverage, and large size. Duff & Phelps has also reaffirmed the rating of New York Life's wholly-owned subsidiary, New York Life Insurance and Annuity Corporation (NYLIAC), `AAA'. The rating is based on NYLIAC's excellent asset quality, high profitability, and the strength and support of its parent.
 New York Life Insurance Company is one of the nation's largest mutual life insurance companies with total admitted assets of $48.4 billion and adjusted surplus of $3.7 billion at March 31, 1993. The company's core businesses include individual life insurance and annuity products, pension products and services, and group life and health insurance. NYLIAC is a wholly-owned subsidiary of New York Life with total admitted assets of $12.9 billion and adjusted surplus of $858 million at March 31, 1993. This subsidiary sells single premium fixed and variable deferred annuities, universal life insurance, and single premium whole life insurance. NYLIAC is managed as part of New York Life's individual life insurance and annuity operation.
 -0- 7/19/93
 /CONTACT: Julie A. Burke, CPA, of Duff & Phelps Credit Rating Company, 312-368-3158/


CO: New York Insurance Company ST: New York IN: INS SU: RTG

MP-MG -- NY057 -- 3073 07/19/93 12:55 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 19, 1993
Words:239
Previous Article:TEXAS UTILITIES ELECTRIC $125 MILLION PREFERRED ISSUE RATED 'BBB-' BY FITCH -- FITCH FINANCIAL WIRE
Next Article:DUFF & PHELPS: PAN-AMERICAN LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATED 'AA-'
Topics:


Related Articles
FIRST COLONY LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY REAFFIRMED AT 'AA+': DUFF & PHELPS
DUFF & PHELPS: IDS LIFE INSURANCE COMPANY CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'
D&P: RELIANCE STANDARD LIFE INSURANCE COMPANY, FIRST RELIANCE STANDARD LIFE INSURANCE COMPANY OF NEW YORK CLAIMS PAYING ABILITY RATING 'AA-'
DUFF & PHELPS: THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'
DUFF & PHELPS: THE WESTERN AND SOUTHERN LIFE INSURANCE COMPANY
D&P: AETNA PROPERTY/CASUALTY INTERCOMPANY POOLS CLAIMS PAYING ABILITY RATING LOWERED TO 'AA-' AND REMOVED FROM RATING WATCH--DOWN
CANADA LIFE ASSURANCE COMPANY CLAIMS PAYING ABILITY REAFFIRMED AT 'AAA' BY DUFF & PHELPS
DUFF & PHELPS: SUN LIFE ASSURANCE COMPANY OF CANADA CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA'
PROVIDIAN LIFE AND HEALTH INSURANCE RECEIVES SECOND UPGRADE FROM DUFF & PHELPS IN TWO YEARS; OTHER PROVIDIAN COMPANIES REAFFIRMED
IDS LIFE INSURANCE CO. CLAIMS PAYING ABILITY RATING REAFFIRMED AT 'AAA' BY DCR

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters