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The advantages of mutuality are evident in the value we deliver to policy owners each year, as we did again in 2016, measured in benefits and dividends paid. Our unsurpassed financial strength continues to provide financial safety and security to those who rely on us to meet our promises. Superior Results Reinforce the Value of New York Lifes Diverse Agent Force In 2016, New York Life posted its 20th consecutive year of growing life insurance sales through its agents, underscoring the companys commitment to providing Americans with the expert guidance needed to achieve financial security. John Kim, president of New York Life, said, New York Lifes agency force is singular among our peers in their dedication to helping people make smart financial decisions and their efforts are needed now more than ever. Our own research2 shows more Americans recognize the need to make long-term financial plans than in years past. Our long-term orientation enables us to make the considerable investment needed to grow the nations best trained agent force, just as it has enabled us to pay eligible participating policy owners a dividend every year since 1854. Record Levels of Surplus and Strong Earnings Strong results from the companys in-force block of life insurance and annuity products helped New York Life raise its surplus and asset valuation reserve to a record $23.3 billion, despite a record dividend payout and a challenging interest rate environment. New York Life remains one of only two companies out of more than 900 in the industry to receive the highest possible financial strength ratings from all four major financial rating agencies. Business performance highlights as of December 31, 2016 included: Operating earnings3 stood at $1.95 billion for 2016, the second highest in the companys history. Grew total dividend and benefits paid to policy owners to $10.1 billion. Announced a dividend payout of $1.8 billion, a 35 percent increase since 2012. Achieved record highs in life insurance sales ($1.3 billion) and in-force ($957 billion). Reached a record high in annuity sales ($13 billion), with a 24 percent market share in fixed immediate annuities and 33 percent of the market for deferred income annuities4. Reported a general account balance of $230 billion in cash and invested assets, and total assets under management of $538 billion. About New York Life 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), Moodys Investors Service (Aaa), Standard & Poors (AA+).** Headquartered in New York City, New York Lifes family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Lifes website at www.newyorklife.com for more information.

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