The insurer financial strength rating on William Penn Life Insurance Co. of NY (William Penn) reflects the financial strength rating constraints of its immediate parent, Banner Life Insurance Co. (Banner Life). -- The financial strength rating on the company's immediate parent, Banner Life, constrains the rating on William Penn. -- William Penn had extremely strong capitalization as of year-end 1999, as illustrated by a capital adequacy ratio of more than 300% based on Standard & Poor's model. Surplus was $74.4 million as of year-end 1999 and rose further to $79.4 million in the first three quarters of 2000. -- Liquidity is extremely strong, with a Standard & Poor's liquidity ratio of 261% as of year-end 1999. -- Net income has
