NEW YORK–(BUSINESS WIRE)– New York Life, America’s biggest shared life insurer, today revealed
that participating policyholders will receive a record payment of $1.7.
billion in 2016. Of the $1.7 billion being distributed next year,.
specific life insurance policyholders are anticipated to receive more.
than $1.6 billion, also a record payment.
Even more impressively, the 2016 payout to the company’s life insurance coverage.
insurance policy holders represents a 37 percent boost in dividend payout in the.
four years since the 2012 distribution of $1.19 billion.
At the exact same time, New York Life is anticipating its surplus to end 2015 at.
an all-time high in excess of $22 billion.
Ted Mathas, Chairman and CEO, stated, “The robust, four-year 37 percent.
increase in our dividend payment to life insurance policyholders since.
2012 is a direct result of our execution of a diversified company.
method. Specifically, New York Life policyholders are taking advantage of.
our large and growing investment management business, which not just.
provides the safety of diversification, however likewise meaningfully.
adds to both our surplus and our dividends. Other smaller sized.
company lines are also contributing to insurance policy holder dividends. This is.
an extremely real and sustainable competitive advantage for our insurance policy holders,.
who have the finest of both worlds: unsurpassed credit-worthiness while.
delivering remarkable efficiency.”.
Mr. Mathas continued, “With the absolutely no interest rate policy of the Federal.
Reserve now in its 7th year, and only modest rate of interest boosts.
expected over the near term, insurance policy holders can be comforted by the truth.
that New york city Life’s diversified strategy is working to their benefit.
Our capability to sustain and grow our dividend payout is working as.
Mr. Mathas said that the company likewise continues to experience very goodexcellent.
persistency as insurance policy holders keep their policies in force regardless of.
the slow-growth economy. This speaks not only to the value recommendation.
the company offers its policyholders however likewise the customer appeal of.
New york city Life’s unsurpassed scores for financial stamina. Of the 825.
life insurance companies in the United States today, only two – consisting of New york city.
Life – have the greatest scores for financial strength currently granted.
to any life insurer by the four significant score agencies.
2016 will mark the 162nd successive year that New York Life.
has paid a dividend to insurance policy holders, through the Civil War, world wars,.
pandemics and monetary crises, a validation of the business’s mutual.
structure and singular focus on creating value for its customers.
“As a mutual business we are distinctively lined up with our policyholders and.
have the ability to manage our operations for their long-term insurance coverage and.
monetary needs,” Mr. Mathas said. “This year’s dividend payment,.
nevertheless, also shows the success of our company technique, which.
couples our market-leading life and annuity companies with a growing,.
worldwide asset management operation,” included Mr. Mathas. “Due to the fact that we are.
not openly traded, the revenues we generate from our possession management.
business can be used in part to support policyholders by permitting us to.
pay a healthy dividend while keeping the financial stamina.
needed to provide safety and soundness, in good times and bad.”.
New york city Life Insurance Company, a Fortune 100 company founded in.
1845, is the largest mutual life insurance coverage business in the United States *.
and one of the largest life insurance companies on the planet. New york city Life has the.
highest possible monetary stamina ratings currently awarded to any.
life insurer from all 4 of the significant credit score agencies: AM.
Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Basic amp;.
Poor’s (AA+). ** Locateded in New york city City, New York Life’s family.
of companies offers life insurance coverage, retirement earnings, investments and.
long-term care insurance. New york city Life Investments *** supplies.
institutional asset management. Other New york city Life affiliates provide.
a selection of securities products and services, as well as retail mutual.
funds. Please check out www.newyorklife.com.
for more informationfor additional information.
* Based upon income as reported by “Fortune 500 ranked within.
Industries, Insurance: Life, Health (Mutual),” Fortune publication,.
6/15/15. For method, please see http://fortune.com/fortune500/.**Individual. independent rating firm commentary
since 8/11/15. *** New York. Life Investments is a service
mark utilized by New York Life Financial investment. Management Holdings LLC and its subsidiary, New york city
Life Investment. Management LLC.