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August 05, 2015 8:51 AM ET

Insurance

Company Overview of New York Life Insurance Co.

Company Overview

New York Life Insurance Company, a mutual life insurance company, together with its subsidiaries, provides a range of insurance and investment products and services. The company offers life and health insurance, long-term care, annuities, pension products, mutual funds, and other investments and investment advisory services. It also provides life insurance, and fixed immediate and deferred annuities to members of AARP; and underwrites group life and disability programs for professional and affinity organizations. In addition, the company offers securities brokerage, financial planning and investment advisory services, trust services, and capital financing services. New York Life Insurance Co...

51 Madison Avenue

New York, NY 10010

United States

Founded in 1845

Phone:

212-576-7000

Key Executives for New York Life Insurance Co.

Chairman and Chief Executive Officer
Age: 48
Vice Chairman, President, Chief Investment Officer, Director and Member of Executive Management Committee
Age: 55
Chief Financial Officer and Executive Vice President
Age: 52
Chief Executive Officer of Institutional Capital LLC and Chief Investment Officer of Institutional Capital LLC
Senior Managing Director of Investments Group and Chief Executive Officer of New York Life Investment Management
Compensation as of Fiscal Year 2015.

New York Life Insurance Co. Key Developments

New York Life Insurance Company Reports Sales Results for the First Half of 2015

New York Life Insurance Company reported sales results for the first half of 2015. For the period, the company reported individual recurring premium life insurance sales through agents are up 13% compared to the first half of 2014.

New York Life Insurance Co. Mulls Acquisitions

New York Life Insurance Co. is seeking acquisitions. Ted Mathas, Chairman and Chief Executive Officer of New York Life Insurance, said, “The company is interested in acquiring other blocks of high quality life insurance in the future.”

New York Life Announces Board Changes

New York Life announced that Senior Vice President Mark Madgett will succeed Executive Vice President Mark Pfaff as head of the Agency Department. Mr. Pfaff plans to retire from the company at year-end 2015 following 30 years of distinguished service as an agent, field manager and Home Office executive. Mr. Madgett moved to the company's Home Office in Manhattan in September 2014, where he has been working closely with Mr. Pfaff in managing the Agency Department. He will continue in that capacity until Mr. Pfaffs retirement at year-end, when he will assume the leadership of the Agency Department and begin reporting to New York Life President John Kim. Mark Pfaff joined New York Life as an agent in New Jersey in 1985 and entered sales management in 1988. Mr. Pfaff advanced in the management ranks to lead the general offices in Vermont and New York City between 1994 and 2004. He was promoted to senior vice president of the Agency's Northeast Zone in 2004 and joined the Home Office in 2006 as senior vice president in charge of the Agency Department. He was appointed to the company's Executive Management Committee in 2007, and was elected an executive vice president in 2009. Since 2012, Mr. Pfaff has served as co-president of the Insurance & Agency Group of New York Life.

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