William Penn believes in partnerships for life.
No matter how careful you are, or how much you think ahead, life is often unpredictable. That's what life insurance is for, planning for what you can't predict. What
you can count on is the performance and strength of your insurance company. We make it our business to prepare for the unexpected so that you can get the most out of life. For more information on
William Penn, our history, our financial strength, our ratings by independent industry analysts, please read on.
Our history spans a lifetime.
The history of William Penn Life Insurance Company of New York is more than 45 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
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 2008, on a statutory basis, William Penn had:
Over $64 billion of life insurance in force
Approximately $965 million in assets
An investment portfolio that consisted of 99% investment grade assets, including 7% U.S. government and U.S. government agency holdings
No real estate or direct commercial mortgages
Capital & surplus of $96 million
Assets equal to 111% 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 policy owners...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
William Penn Life Insurance Company of New York
100 Quentin Roosevelt Boulevard
Garden City, New York 11530