William Penn Life Insurance Company of New York
The history of William Penn Life Insurance Company of New York is more than 40 years strong. Chartered in 1962, we were acquired by Legal & General
Group Plc as a wholly owned subsidiary of Banner Life Insurance Company in 1989. Today we're one of the Legal & General America companies.
Since that time, management for both companies has been consolidated at the senior level. Banner Life's national presence, William Penn's four decades of brokerage experience and the operational synergy between both companies is a strong combination.
Today William Penn's individual life insurance products are sold in New York only, through independent insurance agencies.
Real life means keeping promises.
At William Penn, we take our financial promises seriously. We also promise to treat our customers fairly and to apply ethical standards to every business transaction. We believe in offering low-cost, innovative products and responsive service. Our goal is to build lasting, mutually beneficial partnerships for life.
At year-end 2005, on a statutory basis, William Penn had:
* Over $50 billion of life insurance in force
* $1 billion in assets
* An investment portfolio that consisted of 100% investment grade assets, including 8% U.S. government and U.S. government agency holdings
* No real estate or direct commercial mortgages
* No investments in high-yield "junk" bonds
* Capital & surplus of $119 million
* Assets equal to 113% of liabilities
Our ratings speak for themselves.
While we are proud to be a member of the Legal & General Group Plc, we take an even greater pride in our financial and management independence. Our ratings indicate that William Penn can and will honor its commitments to policyowners...based on its own, independent financial strength. William Penn has:
- An A+ (Superior) rating from A.M. Best for financial strength and operating performance, the highest of Best's 10 rating categories
- An AA rating from Standard & Poor's for financial strength
Call us at
1-800-346-4773
