William Penn Life Insurance Company of New York
www.wpenn.com
- Rated A+ (Superior) by A.M. Best*
- William Penn Life Insurance Company of New York is a wholly-owned subsidiary of Banner Life Insurance Company
- Established in 1962
- Headquartered in Garden City, NY
- $965 million in assets
Company Information
William Penn Life Insurance Company of New York
Garden City, NY | NAIC #66230
The company incorporated in 1962 under the name Modern Life Insurance Company. In 1968, the name was changed to ITT Life Insurance Company of New York, and in 1972 to Penn Life Insurance Company of New York. The name was changed to the William Penn Life Insurance Company in 1975. In 1989, the company was acquired by Legal & General Group, Plc. The company conducts operations and its products are available in the state of NY only.
Legal & General America, Inc.
Rockville, MD
William Penn Life Insurance Company of New York and Banner Life Insurance Company make up the Legal & General companies. They are wholly-owned subsidiaries of Legal & General Group Plc, a world-wide insurance organization headquartered in London. Legal & General Group Plc has had a long history of successful insurance operations since it commenced business over 150 years ago. Its assets have consistently ranked it among the world's largest life insurance companies.
Legal & General America has no financial responsibility for the products issued by William Penn Life Insurance Company of New York.
*Independent Ratings
A.M. Best Company and Standard & Poor's: http://www.lgamerica.com/wpaboutfinvm.htm
Assets
William Penn Life Insurance Company of New York had total assets as of 12/31/08 of approximately $965 million.
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