Douglas A. Wheeler Joins New York Life as Vice President in Governmental Af
Industry Veteran Brings Broad Regulatory and Legal Experience to Role
NEW YORK, N.Y., November 18, 2011 — New York Life Insurance Company, America’s largest mutual life insurer, announced today that Douglas A. Wheeler has joined the company as a vice president in its Office of Governmental Affairs. He reports to Senior Vice President in charge of the Office of Governmental Affairs, George Nichols III.
Mr. Wheeler is responsible for overseeing all state government relations activities for New York Life. He replaces Gayle Yeomans, who retired from the company earlier this year.
Prior to joining New York Life, Mr. Wheeler was the Director of the Division of Insurance at the New Jersey Department of Banking and Insurance. The Division serves as chief regulator of the New Jersey life, health and property-casualty insurance markets, issuing licenses to insurance companies and producers, reviewing insurance products and rates for compliance with existing regulations, and monitoring the financial solvency of companies in the marketplace. As Director, his responsibilities included passage and implementation of the interstate compact legislation.
In addition, he was vice president, general counsel and corporate secretary at National Atlantic Holdings Corporation and the Proformance Insurance Company. Mr. Wheeler began his career as an attorney with Schwartz Simon Edelstein Celso & Kessler, also worked as an attorney at Meyner & Landis, and served as staff counsel at the New Jersey Senate.
Mr. Wheeler earned a B.A. cum laude in Political Science and History at the University of Rochester, and a J.D. at Seton Hall University School of Law. He resides in Metuchen, N.J., with his wife, Margo, and their two children.
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).** Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life's Web site at www.newyorklife.com for more information.
*Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, May 5, 2011. See http://money.cnn.com/magazines/fortune/fortune500/2011/faq/ for methodology.
**Source: Individual Third Party Ratings Report as of 8/23/11.
***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.