- Rated A+ (Superior) by A.M. Best*
- William Penn is a wholly-owned subsidiary of Banner Life Insurance Company
- Established in 1962
- Headquartered in Garden City, NY
- More than $1 billion in assets**
About William Penn Life Insurance Company
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 Companies
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 worldwide insurance organization headquartered in London. Legal & General Group Plc has had a long history of successful insurance operations since it commenced business over 175 years ago. It currently ranks as the ninth largest insurance company in the world according to a 2011 A.M. Best report based on 2009 admitted assets.