Despite the global credit crunch and unprecedented economic pressures,
William Penn Life Insurance Company of New York remains among the most financially
sound life insurers. Our conservatively positioned and prudently managed
investment portfolio has served us well during these difficult times. William
Penn’s portfolio has no exposure to collateralized debt obligations, collateralized
loan obligations, credit default swaps, owned real estate or equities investments.
What we do own is a highly liquid, well-diversified investment grade corporate
bond and very highly rated structured and privately placed securities portfolio.
William Penn remains well positioned to weather the economic storm and will continue to operate in a financially responsible manner. We intend to be here for the long run, to honor our promises to all our customers and to remain positioned as a highly rated company.
A.M. Best rates both companies, Banner Life Insurance Company and William Penn Life Insurance Company of New York, A+ (Superior) for financial strength and operating performance. To see a copy of the current A.M. Best brochure which provides information on our rating, click hereThe Best's Rating Report(s) reproduced on this site appear under license from A.M. Best and do not constitute, either expressly or implied, an endorsement of William Penn Life Insurance Company of New York's products or services. A.M. Best is not responsible for transcription errors made in presenting Best's Rating Reports. Best’s Rating Reports are copyright © A.M. Best Company and may not be reproduced or distributed without the express written permission of A.M. Best Company. Visitors to this website are authorized to print a single copy of the Best’s Rating Report(s) displayed here for their own personal use. Any other printing, copying or distribution is strictly prohibited. Best's Ratings are under continuous review and subject to change and/or affirmation. To confirm the current rating, please visit the A.M. Best website, www.ambest.com..
Both Banner Life and William Penn Life Insurance Company of New York
hold an AA- (Very Strong) financial strength rating from
Standard & Poor’s.
At year-end 2013, on a statutory basis, William Penn had:
- Almost $87 billion of life insurance in force.
- Over $1.1 billion in assets.
- An investment portfolio that consisted of 92% investment grade assets, including 18% U.S. government and U.S. government agency holdings.
- Commercial Mortgage Backed Securities (CMBS) holdings are 83% rated A or above with 76% rated AAA.
- Asset Backed Securities (ABS) holdings are 93% rated A or higher with 26% rated AAA.
- No owned real estate.
- Capital & surplus of $196 million.
- Assets equal to 121% of liabilities.