The city of New York is one of the most important cities in the world. Not only is it home to United Nations but is also a center for world commerce, science, culture and media among other things. The city also attracts a large number of different visitors every year. All these activities have made New York City home to many insurance companies that offer different types of insurance.
Although these insurance companies offer almost the same types of insurance, there are those companies that stand out for being some of the best in the industry. What separates these companies from others include high level of service, good public reputation and their asset base among other factors. Some of the 5 best insurance companies in New York include:
1. Alleghany Corporation – Established was back in 1929 as a holding company, Alleghany Corporation has weathered difficult financial periods including the Great Depression to become one of the best insurance companies in New York. It now offers property, casualty, fidelity and surety insurance. Apart from its insurance business, the company also has a wide portfolio including Transatlantic Re, which it acquired in 2011 and Alleghany properties among other portfolios.
2. DeWatt Stern Group – This is both an insurance brokerage and risk advisory firm. Founded in 1899, the company now operates across all the USA offering its services to international corporations, banks, government, law firms, media, artists, the entertainment industry and individuals among other clients.
3. Manhattan Life Insurance Company – Established in 1894, Manhattan Life Insurance Company is one of the 5 best insurancecompanies in New York City. It is a specialized life insurance company that underwrites different types of life insurance.
4. New York Life Insurance Company – Rated as one of the top life insurers not only in New York and the USA but also in the world, New York Life Insurance Company is the largest mutual life insurance company in the world with over $381 billion worth of assets. The company started its operations in 1845. The company operates across all the USA offering different types of insurance in addition to selling annuities.
5. Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CRF) – Categorized as a financial service provider, TIAA-CREF is one of the 5 best insurance companies in New York. It is a unique insurance company that specifically caters for those working in the academic field, researchers and medical practitioners among other professionals. It specifically serves the needs of about 3.7 million retirees by offering them life insurance and retirement plans. It also sells annuities.