The history of William Penn Life Insurance Company of New York is more than 40 years strong. Chartered in 1962, acquired by Legal & General Group Plc as a wholly owned subsidiary of Banner Life Insurance Company in 1989. Today they are 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 agencies.
 

At year-end 2004, on a statutory basis, William Penn had:

• Over $50 billion of life insurance in force
• Over $1 billion in assets
• An investment portfolio that consisted of nearly 100% investment grade assets, including 10% U.S. government and U.S. government agency holdings
• No real estate or direct commercial mortgages
• No investments in high-yield "junk" bonds
• Capital & surplus of over $107 million
• Assets equal to 112% of liabilities

Their ratings speak for themselves.

The ratings indicate that William Penn can and will honor its commitments to policyowners...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