[September 16, 2014]

Fitch Affirms New York Life's Highest Ratings for Financial Strength, Citing Extremely Strong Capital, Market Leadership

New York Life, America's largest mutual life insurer, today announced that Fitch affirmed the company's highest possible ratings for financial strength, with a stable outlook.

Fitch affirmed the company's financial strength rating of AAA, its highest possible rating, on August 13, 2014. Also, this past June, A.M. Best affirmed its A++ (superior) financial strength rating on New York Life, its highest possible rating. In addition, both Moody's and Standard & Poor's have affirmed New York Life's top ratings in the last 15 months. All four rating agencies have a stable outlook assigned to New York Life's ratings.

New York Life remains one of only three life insurers with the highest financial strength ratings currently awarded by all four of the major rating agencies, out of more than 800 life insurers operating in the United States today.

Among the highlights from the major rating agencies' comments in affirming New York Life's ratings are:

Fitch Ratings - Rating of AAA (highest) affirmed August 13, 2014

• Extremely strong capital;
• High quality stable earnings;
• Solid operating profile;
• Strong brand name;
• Leading position in the U.S. life insurance and annuity markets;
• Effective career distribution system; and
• Well diversified, liquid investment portfolio.

A.M. Best - Rating of A++ (highest) affirmed June 4, 2014

• Leading market position in the U.S. life industry;
• Strength of its career agency distribution force;
• Superior risk-adjusted capitalization;
• Favorable liability profile;
• Sound operating earnings; and
• Commitment to mutuality.

In addition to Fitch and A.M. Best, the current ratings and opinions of Moody's and Standard & Poor's remain in effect.

Moody's Investors Service - Rating of Aaa (highest) affirmed July 19, 2013

• Leading position in core market;
• Ecellent distribution channels;
• Strong underwriting skills;
• Robust and resilient balance sheets; and
• Mutual structure that helps align the interests of policyholders, creditors and the company management.

• Excellent business risk profile which is complemented by an extremely strong financial risk profile;
• Very strong competitive position, reflecting its widely recognizable brand and significant controlled distribution;
• The company's U.S. career agency system has a formidable number of agents and excellent market penetration and overall productivity;
• Extremely strong capital strength and strong earnings; and
• Strong enterprise risk management.

For the agencies' complete and current public commentary on New York Life click here:

• A.M. Best
• Fitch
• Moody's
• Standard & Poor's

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).** Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life's website at www.newyorklife.com for more information.

*Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/16/14. For methodology, please see http://fortune.com/fortune500/.

**Individual independent rating agency commentary as of 8/13/14.

***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

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