New York Life Insurance Company announced today that it has moved up twelve positions to 64 th place on Fortune magazine’s annual ranking of America’s 500 largest corporations by revenue. New York Life’s revenues grew by more than eight percent in 2009, up $2.6 billion, and the company remains the largest mutual life insurer in the nation and the second largest U.S. life insurer according to Fortune magazine’s Fortune 500 list. In 2009, New York Life was the largest seller of life insurance and lifetime income annuities in the United States, according to an industry source.*
Ted Mathas, chairman, president and CEO of New York Life, said, “The company's strong advance up the Fortune list of America's largest companies confirms New York Life is growing as it provides larger numbers of families the financial protection they need. The move up the list also reflects the exceptional effort and dedication of our agents and employees as they work to bring safety and soundness to the portfolios of thousands more people every year.”
New York Life celebrates the 165 th anniversary of its founding this year. The company was 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. *New York Life was the number one seller of fixed immediate annuities in 2009, according to an industry source. Source: LIMRA International, U.S. Individual Annuity Sales Survey, Fixed Immediates, Fourth Quarter YTD 2009 results. (Fixed Immediates include Fixed Period Annuities.) New York Life was the largest seller of individual life insurance, according to an industry source. Note: Sales based on all planned recurring premiums plus 100% of reported single premiums. Source: LIMRA International, Fourth Quarter YTD 2009 Individual Life Insurance Sales Survey.