New York Life

New York Life, the largest mutual life insurer in the US, posted $25 billion in premiums with a 30% dividend payout rate that outperforms the typical mutual on this list by 5 percentage points. Founded in 1845, the policyholder-owned company pays $2.5 billion in dividends annually—double the average for similar-sized mutuals. Although premium revenue trails #4 MassMutual by $3 billion, New York Life's consistent dividend history and absence of public shareholders provide a unique policyholder advantage.