New York Life Contributes More Than 6,000 Volunteer Hours During Month of Service
New York Life Insurance Company, 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. New York Life has the highest possible financial strength ratings awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).*** 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 Investments**** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life's Web site at www.newyorklife.com for more information.
* Independent Sector calculates the hourly value of volunteer time based on the average hourly wage for all non-management, nonagricultural workers as determined by the Bureau of Labor Statistics, with a 12 percent increase to estimate for fringe benefits. http://www.independentsector.org/volunteer_time.
**Based on revenue as reported by "Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual)," Fortune Magazine, May 5, 2011. See www.money.cnn.com/magazines/fortune for methodology.
***Source: Individual Third Party Ratings Report as of 8/23/11.
****New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.