NY -- Standard & Poor's CreditWire 10/8/98 û Standard & Poor's today assigned its triple-'Bpi' insurer financial strength rating to William Penn Life Insurance Co. of New York. William Penn Life Insurance Co. of New York is licensed in six states and it operates principally in New York. Its major line of business is ordinary life insurance, and it commenced operations in 1963. William Penn Life is a member of Legal & General Group PLC (double-'A' counterparty credit rating), a major financial services provider focused on life insurance, pensions, savings, and protection policies for individuals. The following factors were incorporated in the triple-'Bpi' rating. -- Extremely strong capitalization, as measured by Standard & Poor's capital adequacy ratio of 231%. --
