What the ratings represent
Ratings from agencies such as A.M. Best, Moody's, Standard & Poor's, and Fitch measure a insurer's ability to meet policyholder obligations. A higher grade indicates stronger financial backing, which matters when you purchase life or annuity products from Great-West Life & Annuity Insurance Company of New York.
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Key agencies to consult
Each rating agency uses its own scale and methodology, so looking at several sources provides a fuller picture. Below is a quick reference for the major agencies that cover Great-West Life.
| Agency | Typical Scale | What to watch for |
|---|---|---|
| A.M. Best | A++ to D | Focuses on insurance‑specific risk, surplus, and operating performance. |
| Moody's | Aaa to C | Emphasizes overall credit risk and economic outlook. |
| Standard & Poor's | AAA to D | Looks at capital adequacy, earnings, and market position. |
| Fitch | AAA to D | Considers regulatory environment and asset quality. |
Where to find the latest ratings
Visit the rating agency's official website and search for "Great-West Life & Annuity Insurance Company of New York." The company's own site often links to current ratings in its investor relations or consumer information sections. State insurance department portals, such as the New York State Department of Financial Services, may also list the most recent grades.
Factors that can affect a rating
Ratings are not static; they respond to changes in capital reserves, investment performance, claim experience, and regulatory actions. Major events—like a shift in market conditions, large claim payouts, or mergers—can prompt a rating review. Understanding these drivers helps you gauge whether a current rating reflects long‑term stability.
How to interpret the numbers for your decision
When comparing Great-West Life's ratings to other insurers, consider both the absolute grade and the trend over time. A stable or improving rating suggests growing financial strength, while a downgrade may signal emerging risks. Combine this insight with product features, fees, and your personal risk tolerance before committing to a policy.
Additional resources to verify strength
- National Association of Insurance Commissioners (NAIC) financial data reports.
- Annual statements filed with the New York State Department of Financial Services.
- Independent consumer review sites that aggregate rating agency scores.