Major Rating Factors:
Good quality investment portfolio (5.8 on a scale of 0 to 10) despite large holdings of BBB rated bonds in addition to junk bond exposure equal to 51% of capital. Exposure to mortgages is significant, but the mortgage default rate has been low. Good Liquidity (6.0) with sufficient resources to handle a spike in claims as well as a significant increase in policy surrenders. Good overall results on stability tests (5.9) despite excessive premium growth excellent operational trends and excellent risk diversification.
Other Rating Factors:
Fair profitability (3.7) with operating losses during 2022. Strong capitalization (7.7) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
G - Fast asset or premium growth.
I - Past results on our Investment Safety Index.
Principal Lines of Business:
Ind annuities (87.5%), group life (5.9%), other (6.7%)
Licensed in:
All states except PR
Investments
Invested Assets
Cash
CMO & Structured Securities
Other Investment Grade Bonds
Non-Investment Grade Bonds
Common & Preferred Stock
Mortgages in Good Standing
Non-Performing Mortgages
Real Estate
Other Investments
Investments in Affiliates
Corporate Info
Group Affiliation
New York Life Group
Investment Rating
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Company Address
200 CONTINENTAL DRIVE STE 306
WILMINGTON, DE 19801
WILMINGTON, DE 19801
Phone Number
(212) 576-7000
NAIC Number
91596
Website
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Largest Affiliates
