William Penn Life Insurance Company of New York
is part of Legal & General America.

William Penn Life Insurance Company of New York

William Penn Life Insurance Company of New York and Banner Life Insurance Company are the companies that underwrite and issue life insurance policies under the Legal & General America brand. We are in the business of providing financial protection through life insurance for families living in America from coast to coast.

At the heart of our business is a genuine concern about our policyholders. We deeply believe in the value of life insurance protection because we know how beneficial it can be. You can count on us to help provide financial security for your loved ones in the event you are no longer here to do that yourself.

William Penn, Banner, and Legal & General America are financially strong, fiscally responsible and committed to business practices that will make sure we will be here when you need us most.

Download our financial strength brochure here.

William Penn Life Insurance Company of New York has been our New York branch for more than twenty-five years. While William Penn is licensed to conduct business only in New York, Banner is licensed to conduct business in every other state and the District of Columbia.

The executives who provide financial management for Banner do so for William Penn as well so policyholders in New York can share the national confidence in our financial strength.

Who is Legal & General America?

Our parent company, Legal & General Group, formed Legal & General America as a holding company in 1981, and bought Government Employees Life Insurance Company (GELICO) and its NY affiliate. The GELICO name changed to Banner in 1983. William Penn was purchased by Legal & General Group Plc as a wholly owned subsidiary of Banner Life Insurance Company in 1989. While Banner and William Penn remain the companies that underwrite and issue our policies, we go to market under a single name, Legal & General America.


  1. Year-end 2017
  2. Top five term life ranking based on coverage in the brokerage channel,
    LIMRA 2017—US Retail Individual Life Insurance Sales By Channel
  3. Statutory Returns 2017
  4. Year-end 2017 ALIRT Insurance Research
  5. 2016 non-banking assets, 2018 study, A.M. Best
  6. Conversions for year-end 2017, FX 1 GBP = USD 1.35

2017 Financial Strength Ratings

A+ (Superior) from A.M. Best
AA- (Very Strong) from S&P
AA- (Very Strong) from Fitch
94 COMDEX score

Our Parent:
Legal & General Group

A History More Than 180 Years Strong

Founded in 1836 in London where it still has its headquarters, Legal & General Group Plc has operations in Europe, North America and Asia.

9th Largest in the World

Legal & General Group, Plc is the 9th largest insurance company in the world, as measured by assets under management.5

10 Million Worldwide Customers

That's the number of people who rely on L&G for life insurance, pensions, investments and general insurance plans.1

$1.3 Trillion of Managed Assets

Legal & General is one of the world’s largest insurance and investment management groups, with total assets under management of $1.3 trillion as of December 31, 2017.6

Financially Strong

Three of the world's leading independent rating agencies, Standard & Poor's, Moody's and A.M. Best, have recognized Legal & General Assurance Society Limited as one of the UK's top rated companies for financial strength.

Award Winning

Legal & General Group Plc received numerous commendations in 2017 including "Best Term Assurance Provider" at the Investment Life & Pensions Moneyfacts Awards."