New York Life approves largest total dividend payout to policy holders in company history.
November 22, 2018 by New York Life
According to CEO and Chairman Ted Mathas, “Paying dividends to our eligible policy owners for the 165thconsecutive year is New York Life’s mutual structure in action. This unparalleled consistency in sharing our success reflects the disciplined execution of our diversified business strategy and superior financial strength. As a mutual company, our interests are aligned with those of our policy owners, not Wall Street or shareholders, meaning the value we create is carefully managed with their long-term interests in mind.”
The dividend payout declared in 2018 follows an outstanding year of performance. This year also marks the third anniversary of paying dividends on participating Mutual Income Annuities. Income annuities have grown to become a core retirement solution for millions of Americans. New York Life and its subsidiaries remain the income annuity leader according to LIMRA.3
With its success driven by the industry’s largest, best-trained, and highest-achieving4 agent force, New York Life remains one of only two life insurance companies in the country with the highest financial strength ratings currently awarded to life insurers by the four major rating agencies[5], reflecting a level of safety and soundness that is unsurpassed in the industry.
In addition, surplus and asset valuation reserve remain strong at a record $25.1 billion6, bolstered by the company’s ability to strategically manage its $252.9 billion general account6 and successfully operate its portfolio of supporting businesses, which deliver diversified revenue streams to support New York Life’s financial strength.
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 States7 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 agencies5.