WILLIAM PENN LIFE INS CO OF NEW YORK
Major Rating Factors:
Fair overall results on stability tests (3.5 on a scale of 0 to 10) including potential financial drain due to affiliation with Legal & General America Inc and excessive premium growth. Fair quality investment portfolio (4.8) with large holdings of BBB rated bonds in addition to significant exposure to junk bonds. Exposure to mortgages is significant, but the mortgage default rate has been low. Fair profitability (4.6) with investment income below regulatory standards in relation to interest assumptions of reserves.
Other Rating Factors:
Good Liquidity (6.7). Strong capitalization (8.3) based on excellent risk adjusted capital (severe loss scenario).
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Group annuities (10.1%), ind health (1.2%), ind annuities (0.4%), other (88.2%)
Licensed in:
All states except CA, HI, MA, MN, NV, VA, WA, 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
Legal & General America Inc
Investment Rating
--
Company Address
70 EAST SUNRISE HWY STE 500
VALLEY STREAM, NY 11581
VALLEY STREAM, NY 11581
Phone Number
(301) 279-4800
NAIC Number
66230
Website
Largest Affiliates