New York Life Maintains Top Ratings for Financial Strength From All Major Ratings Agencies

NEW YORK, Oct. 3 -- New York Life Insurance, a mutual life insurance company, issued the following news release:

New York Life, America's largest mutual life insurer, announced today that major ratings agencies - Fitch Ratings, A.M. Best, Standard & Poor's, and Moody's - have affirmed that New York Life maintains the highest possible ratings for financial strength.

New York Life remains one of only two life insurers with the highest financial strength ratings currently awarded to any insurer by all four of the major rating agencies, out of 800 life insurers operating in the United States today.

In May and July, Fitch Ratings and A.M. Best affirmed New York Life's financial strength rating of AAA and A++, respectively - each firm's top possible rating. In August, Standard & Poor's affirmed New York Life's financial strength rating of AA+, which is the highest rating for a U.S. life insurer. Moody's Investors Service's financial strength rating of New York Life remains Aaa, its top rating, based on the agency's most recent affirmation in September.

Highlights from these major ratings agencies affirming New York Life's financial strength include:

Fitch Ratings - Rating of AAA (Highest) affirmed May 20, 2019

* Leading market position in U.S. individual life insurance market

* Strong brand recognition

* Well-established market position

* Effective career distribution system

* Stable block of participating whole life insurance

A.M. Best - Rating of A++ (Highest) affirmed July 24, 2019

* Strong operating performance and very favorable business profile

* Very strong risk-adjusted capital

* Stability and strength of its career agency distribution

* Market position among top leaders in the U.S. life insurance industry

* Creditworthy liability profiles

Standard & Poor's - Rating of AA+ (Highest for a U.S. life insurer) affirmed August 12, 2019

* Excellent competitive position and financial risk profile

* Wide brand recognition

* Career agency force with significant size, market penetration and productivity

* Mutual status, strength and predictability of earnings

* Strong capital and earnings

Moody's Investors Service - Rating of Aaa (Highest), affirmed September 12, 2019

* Leading position in the U.S. life insurance market and strong brand

* Large block of individual life insurance containing significant embedded profits

* Productive and well-established career agency distribution force

* Well-diversified investment portfolio, strong liquidity, and outstanding capitalization

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ABOUT NEW YORK LIFE

New York Life Insurance Company (www.newyorklife.com), 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. 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 has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.