The insurer financial strength rating on William Penn Life Insurance Co. of NY, a member of the Legal & General America Group (LGA) reflects LGA's strong business profile, very strong earnings, and extremely strong capitalization. In addition, LGA is strategically important to its ultimate parent, Legal & General Group PLC (Legal & General PLC). LGA is successfully executing a strategy (implemented in 1997) of exclusively selling term insurance to upper-middle income consumers through the brokerage channel. LGA has gone from being a top-50 writer of term insurance in 1997 to the second-largest brokerage channel writer in 2001. GAAP earnings have been extremely strong, with a year-end 2001 GAAP earnings adequacy ratio of 365%, based on Standard & Poor's earnings model.
