New York Life Insurance Company

What New York Life Insurance Company does

New York Life Insurance Company, founded in 1845 and headquartered in New York City, is the largest mutual life insurance company in the United States and a Fortune 100 firm (ranked #69 in 2025). The company provides a comprehensive financial services portfolio across four pillars: Insurance (term, whole, universal, and variable universal life, plus long-term care and individual disability), Investments (annuities, mutual funds via MainStay, ETFs, and 529 college savings plans), Retirement (immediate and deferred income annuities), and Advisory Services (wealth management, estate planning, and small business services). It also operates Group Benefit Solutions for employer-sponsored life and disability coverage, a New York Life Direct digital channel, and the New York Life Investment Management platform overseeing $785 billion in global assets as of 2026.

The company generates revenue through recurring insurance premiums ($18.5 billion in 2021), annuity sales ($13.7 billion in 2021), fees on $760 billion-plus in assets under management, and policy owner dividends and benefits ($16.5 billion paid in 2021), supported by a $30.7 billion surplus as of December 2021. Distribution is anchored by a captive career agency force of 12,000+ agents and advisors across 120+ offices nationwide, supplemented by Advanced Markets Network third-party distributors for retail and institutional life (BOLI/COLI/ICOLI), direct-to-consumer digital, and global institutional asset management channels. Wholly-owned subsidiaries include NYLIAC, NYLIFE Insurance Company of Arizona, Life Insurance Company of North America (acquired 2020), Eagle Strategies, NYLIFE Securities, MainStay Mutual Funds, and New York Life Seguros Monterrey (Mexico).

Internally, New York Life has established a Technology, Data, AI & Ventures (TDAV) organization to advance cloud infrastructure and embed AI across the enterprise, supported by a deep AI/data leadership bench and external partnerships with Pasito, Workday, and Employee Navigator. The company earned the highest financial strength ratings from all four major rating agencies (A.M. Best A++, Fitch AAA, Moody's Aa1, S&P AA+) and declared a record $2.78 billion dividend for payout in 2026, extending 171 consecutive years of dividend payments to policy owners.

Name

New York Life Insurance Company

Legal name

New York Life Insurance Company

Website

https://newyorklife.com

Company type

Private

Founded year

1845

Operating status

Operating

Short description

New York Life Insurance Company, founded in 1845, is the largest mutual life insurer in the United States, offering life insurance, annuities, long-term care, group benefits, and investment management services to individuals, families, businesses, and institutions through a 12,000+ agent career agency system across 120+ offices.

Ownership category

akta.pro rank

Product category

Life Insurance and Financial Services

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Participating (Dividend) Whole Life Insurance (FSAIABAI), Level Term Life Insurance (FSAIAAAA), Basic Group Term Life (Employer-Paid) (FSAIADAA), Group Term Life Insurance (FSAIAAAJ)

Keywords

• Life insurance products
• Annuity products
• Wealth management services
• Group benefit solutions
• Mutual fund investments

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Insurance Premiums: Direct and assumed premiums on life and accident and health policies, including recurring premiums from renewal and first-year policies. In 2021, insurance premiums totaled $18.5 billion.
2. Annuity Sales: Premiums on deferred annuities (fixed and variable) and guaranteed income annuities. In 2021, annuity sales were $13.7 billion.
3. Policy Owner Dividends and Benefits: Benefits paid to policy owners including death claims and annuity payments, and dividends distributed from divisible surplus. In 2021, $16.5 billion in total dividends and benefits were paid to policy owners.
4. Assets Under Management: General account investment portfolio plus assets managed for third-party investors including mutual funds, separately managed accounts, retirement plans. In 2021, AUM was $760 billion.
5. Operating Earnings: Results from ongoing operations and underlying profitability of the business based on GAAP with certain adjustments. In 2021, operating earnings were $2.4 billion.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

New York Life Insurance Company is a mutual life insurer that sells life insurance (term, whole, universal, variable universal), long-term care and disability insurance, fixed and variable annuities, mutual funds, ETFs, and 529 college savings plans to individuals, families, and businesses. The company also delivers wealth management, estate planning, and small business advisory services through a career agency system of 12,000+ agents and through its Advanced Markets Network, New York Life Direct, and New York Life Investment Management divisions.

Product overview

New York Life Insurance Company offers a comprehensive financial services portfolio organized around four core pillars: Insurance (term life, whole life, universal life, variable universal life, long-term care, and disability insurance), Investments (annuities, mutual funds, ETFs, and 529 college savings plans through MainStay Mutual Funds), Retirement (immediate and deferred income annuities), and Advisory Services (wealth management, estate planning, and small business services). The company operates as both a direct provider through its agency force of 12,000+ agents and through institutional channels including New York Life Investment Management ($785B AUM), Group Benefit Solutions (employer benefits), New York Life Direct (direct-to-consumer), and institutional distribution via its Advanced Markets Network. The company also maintains international operations through New York Life Seguros Monterrey in Mexico and serves institutional clients through pension risk transfer, stable value investments, and bank/corporate-owned life insurance products.

Differentiator

Problem solved

Functional benefit

Brands

• Asset Flex: Long-term care insurance solution with indemnity benefit
• Wealth Watch
• Golden Futures
• Volunteers for Good
• Grief-Sensitive Schools Initiative
• Love Takes Action

Products and services

• Term Life Insurance
• Whole Life Insurance
• Universal Life Insurance
• Variable Universal Life Insurance
• Long-Term Care Insurance (Asset Flex)
• Individual Disability Income Insurance
• Accident and Health Products
• Annuities
• Immediate Income Annuities
• Deferred Income Annuities
• Clear Income Advantage (Fixed Deferred Annuity)
• Mutual Funds (MainStay Mutual Funds)
• Exchange Traded Funds (ETFs)
• 529 College Savings Plans
• Wealth Management (Advisory Service)
• Wealth Plus
• Estate Planning (Advisory Service)
• Small Business Services
• Group Benefit Solutions
• Pension Risk Transfer
• Stable Value Investments
• Bank and Corporate-Owned Life Insurance (BOLI, COLI, ICOLI)
• New York Life Investment Management
• Hybrid Digital Investment Tool
• GBS Employer-Specific Leave Planning Tool

Quantifiable outcome

• 171 consecutive years of dividend payments to policy owners
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

16 partnerships are on record, tiered core, flagship and minor.

• WorkdaycoreTechnology or Integration · 20 August 2024Strategic Workday Wellness partner to streamline employee benefits administration for workplace benefits guidance.
• Major League BaseballflagshipGTM or Marketing Partner · 21 February 2024Multi-year partnership making New York Life the Official Financial Guidance Partner of Major League Baseball, including support of Little League Baseball and Softball.
• New York YankeescoreGTM or Marketing Partner · 28 March 2023Official Life Insurance Partner of the New York Yankees with Strikeout Series partnership donating to youth organizations like SCAN Harbor and Bronx YMCAs.
• E4E ReliefcoreOthers · 5 May 2022Charitable partner administering the Brave of Heart Fund, which distributed over $31 million in grants to families of frontline healthcare workers who lost their lives to COVID-19, impacting more than 900 families across 43 states.
• Save the ChildrenminorOthers · 7 March 2022$150,000 corporate grant providing children and families with immediate aid including food, water, hygiene kits, psychosocial support, and cash assistance for Ukrainian humanitarian crisis response.
• UNICEF USAminorOthers · 7 March 2022$150,000 corporate grant supporting child and family protection support hubs at migration routes, providing safe water, nutrition, healthcare and education for Ukrainian crisis response.
• U.S. Men's National Soccer TeamflagshipGTM or Marketing PartnerNew York Life is an Official Partner of the U.S. Men's National Soccer Team, sharing stories behind players' journeys to the world stage through 'The Assist' docuseries featuring U.S. Men's National Soccer Team stars.
• Sesame WorkshopcoreStrategic or Co-development PartnerPartnership with Sesame Workshop to provide resources for parents, educators, and grief professionals to support children navigating loss, including 'Growing as We Grieve' content for Children's Grief Awareness Month.
• Yale Child Study CentercoreStrategic or Co-development PartnerPartnership to develop specialized resources and trainings helping healthcare providers integrate grief-sensitivity into their daily practice, covering topics such as end-of-life care and communicating about death.
• Child Bereavement UKcoreStrategic or Co-development PartnerCollaboration with Child Bereavement UK as part of the Grief-Sensitive Healthcare Project to develop training materials for healthcare providers.
• Judi's House/JAG InstitutecoreStrategic or Co-development PartnerPartnership for the Childhood Bereavement Estimation Model (CBEM), using data and research to understand the impact of childhood bereavement across the country and empower caring adults to advocate for their communities.
• Coalition to Support Grieving StudentscoreStrategic or Co-development PartnerPioneering collaboration among leading K-12 professional organizations producing industry-endorsed, educator-specific grief resources and training materials.
• Alliance for Young Artists and WritersminorGTM or Marketing PartnerSix $1,000 scholarships awarded to students through the Scholastic Art & Writing Awards, acknowledging students who explored loss of a loved one in their creative work.
• First BookminorStrategic or Co-development PartnerEquipping educators with resources to support children experiencing grief and loss through the New York Life Foundation partnership.
• American Federation of TeacherscoreStrategic or Co-development PartnerCollaboration on educator surveys regarding childhood grief and grief sensitivity in schools, with 93% of educators agreeing childhood grief is a serious problem deserving more attention.
• Children's CollaborativecoreStrategic or Co-development PartnerFirst-of-its-kind initiative piloting in Utah that bridges policy, data, and compassion by adding a checkbox on death certificates to identify surviving children and link families to grief resources.

Scale indicators13 records

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• MetLife: MetLife is a large global insurer offering life, dental, disability, vision, and retirement products to individuals and employers. Wide incumbent footprint with significant overlap in group benefits and individual life.
• Prudential Financial: Prudential is one of the largest U.S. life insurers and asset managers, offering individual life, group insurance, annuities, retirement, and investment management. Broad incumbent overlapping with most of New York Life's product lines.
• State Farm: State Farm is the largest U.S. property and casualty insurer with a growing life insurance arm distributed through captive agents. Comparable career-agent distribution and mutual-adjacent brand strength, though primarily P&C.

Direct peers

• Massachusetts Mutual Life Insurance Company (MassMutual): MassMutual is a direct mutual peer offering whole life, universal life, disability, annuities, and investment management through advisors. Comparable in mutual structure, agency distribution, and product breadth.
• Principal Financial Group: Principal Financial offers life insurance, retirement plans, annuities, and asset management to individuals and businesses. Overlaps with New York Life in group benefits, retirement, and investment management.
• Guardian Life Insurance Company of America: Guardian Life is a mutual insurer offering individual life, disability, dental, and vision benefits, plus retirement solutions. Competes directly with New York Life in the employer-sponsored and individual life insurance markets.
• Northwestern Mutual: Northwestern Mutual is the closest direct peer to New York Life: a large mutual life insurance company offering whole life, term life, disability income, annuities, and wealth management through a career agency system. Competes head-to-head in the same advisor-led, dividend-paying mutual model.
• Lincoln National Corporation: Lincoln National provides life insurance, annuities, retirement plans, and group benefits. A direct competitor in individual life, annuities, and employer-sponsored benefits.
• TIAA (Teachers Insurance and Annuity Association): TIAA is a mutual financial services organization specializing in retirement annuities, life insurance, and asset management for academic and nonprofit sectors. Direct competitor in the annuity and institutional retirement space.

Emerging players

• Equitable Holdings: Equitable (formerly AXA Equitable) offers variable annuities, life insurance, and retirement solutions, with strong focus on the protected accumulation and retirement income segments. Partial overlap with New York Life's annuity and individual life business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/NewYorkLife
• YouTubeyoutube.com/user/newyorklife
• Facebookfacebook.com/newyorklife
• LinkedInlinkedin.com/company/newyorklife
• Instagraminstagram.com/newyorklife

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New York Life Insurance Company