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The New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the U... More...

The New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world, with about $300 billion in total assets, and $13 billion in budget surplus. The company ranks #76 on the 2009 Fortune 100 list, making it the highest privately held insurance company on that list. In 2007, NYLIC achieved the best possible ratings by the four independent rating companies (Standard & Poor's, AM Best, Moody's and Fitch). By June 2009, the same four rating companies reaffirmed New York Life's "superior" financial strength, which became a selling point in national TV ad campaigns that same year. The company is now one of only three life insurers to hold the highest possible rating from all four major rating agencies, and one of a few to not receive a ratings downgrade since the 2008 financial crisis. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds. History The company was founded in 1840 as the Nautilus Insurance Company in New York City, with assets of just $17,000. It was renamed the New York Life Insurance Company in 1849. Its first headquarters were at 112-114 Broadway; the first president was James DePeyster Ogden. The current New York Life headquarters was designed by noted architect Cass Gilbert and completed in 1928. The New York Life building, at 51 Madison Avenue, was constructed during the presiden Less...