New York Life’s Industry-Leading Financial Strength Ratings Affirmed by All Major Ratings Agencies.

New York Life  |  December 18, 2023

NEW YORK, December 18, 2023 – New York Life, America’s largest mutual life insurer¹, today announced that major ratings agencies Standard & Poor’s, Fitch Ratings, A.M. Best, and Moody’s Investors Service have all affirmed New York Life as maintaining the highest possible ratings for financial strength.

New York Life continues to maintain the highest financial strength ratings currently awarded to any insurer by all four of the major rating agencies, out of all life insurers operating in the United States today.

Standard & Poor’s affirmed New York Life’s rating of AA+, the agency’s highest rating for a U.S. life insurer, in August. In October, 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. Moody’s Investors Services affirmed New York Life’s financial strength of Aaa, the agency’s top rating, in November.

Highlights from these affirmations include:

Standard & Poor’s – Rating of AA+ (Highest for a U.S. life insurer), affirmed August 10, 2023

• Excellent competitive position and financial risk profile
• Strong brand recognition
• Top market positions in the U.S. individual life insurance industry, propelled by a successful, controlled distribution model
• Excellent capital and earnings

Fitch Ratings – Rating of AAA (Highest), affirmed October 6, 2023

• Leading market position in U.S. individual life insurance market
• Extremely strong capital
• Diversified liability profile
• Loyal and productive career agency distribution channel
• Leading producer of participating whole life insurance

A.M. Best – Rating of A++ (Highest), affirmed October 19, 2023

• Very strong operating performance and very favorable business profile
• Strong risk-adjusted capital
• Very strong and established industry-leading managerial career agency distribution channel
• Strong brand recognition and leading market position in retail life and guaranteed income and fixed deferred annuities, with a continued top-three ranked position in overall U.S. individual annuity sales and lead position in U.S. retail life sales as of year-end 2021
• A well-diversified investment portfolio with a consistent approach towards credit risk and cash

Moody’s Investors Service – Rating of Aaa (Highest), affirmed November 17, 2023

• Top-tier position in the domestic individual life insurance business; leading position in group life and disability insurance
• 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 strong capitalization

The agencies’ complete and current public commentaries on New York Life are available through the links below:

• Moody's Investors Service
• Standard & Poor's
• A.M. Best
• Fitch Ratings

ABOUT NEW YORK LIFE

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest¹ 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.²

¹Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/5/2023. For methodology, please see http://fortune.com/fortune500/.

²Individual independent rating agency commentary as of 11/17/2023: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).