Litigation

New York Life "More Capital Than Is Required TO Maintain Our AAA Ratings"

By John Darer

New York Like Insurance Company announced on November 6, 2008 that it WILL NOT participate in the Treasury Department's capital purchase program.

In a statement released on the Business Wire a New York Life spokesman said " when it became clear to us that the program was entirely voluntary for insurers, New York Life was able to evaluate it solely from the point of view of its capital strength and its policyholders? best interests.?

?We are well capitalized with more capital than is required to maintain our Triple-A ratings. New York Life has the highest possible ratings from ALL four of the major rating agencies.?

?The company can meet all of its strategic objectives without government capital, its businesses are strong and profitable, and it is committed to remaining a mutual company operating for the sole benefit of its policyholders.?

New York Life Insurance Company is a structured settlement annuity issuer, a member of the Fortune 100 and has been in business for over 163 years!

Full post as published by Structured Settlements 4Real on November 07, 2008 (boomark / email).