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New York Life Appoints Joanne Rodgers As Chief Diversity Officer

NEW YORK, N.Y., March 9, 2012 - New York Life announced today the appointment of Vice President Joanne Rodgers as Chief Diversity Officer, responsible for overseeing all aspects of New York Life’s diversity program.

"New York Life takes our commitment to diversity very seriously, both because it is the right thing to do and because it makes us better at our business. Diversity is at the core of the company’s strategy and helps define the kind of company we are and aspire to be,” said Barry Schub, senior vice president and chief human resources officer at New York Life. “Joanne’s understanding of the company, its people and its culture will be invaluable as we continue to define and foster a corporate culture that values diversity of talent, ideas, values and backgrounds across all parts of the company."

The increasing diversity of the company's agents has helped New York Life achieve continued sales growth and the number one market share position in new life insurance premium. Women and cultural market agents made up 57 percent of the company’s new hires in the field in 2011. Ms. Rodgers has worked with New York Life’s cultural and women’s markets in various capacities during her 18-year New York Life career. Most recently, she was involved with strategic planning to increase the company's presence in the women's and Hispanic markets, both top priorities for New York Life.

As chief diversity officer, Ms. Rodgers’s responsibilities include the development and execution of the company's diversity strategy; coordination of diversity activities and events with a particular emphasis on talent recruitment, development and retention; and internal and external communications on diversity. In addition, Ms. Rodgers will work closely with New York Life’s department managers and employee resource groups to ensure that diversity initiatives are aligned with business strategies and goals.

Ms. Rodgers formerly headed the Women's Leadership Program (WLP) at New York Life, an employee resource group that develops programs to strengthen leadership skills and maximize career opportunities for women at the company. As part of her role as Chief Diversity Officer, she will now oversee the WLP and six additional employee resource groups. Ms. Rodgers reports to First Vice President and Chief Talent Officer Hy Pomerance.

New York Life is consistently acknowledged by diversity organizations and noteworthy publications, earning a 2012 Diversity Leader Award from Profiles in Diversity Journal; ranking as one of National Association for Female Executives’ “Top 50 Companies for Executive Women,” one of the “50 Best Companies for Latinas to Work for" by Latina Style, and a "Top 50 Organization for Multicultural Business Opportunities for 2012" by DiversityBusiness.com

Ms. Rodgers joined New York Life in 1994 and has held positions of increasing responsibility working in the corporate compliance, agency and strategy departments. Most recently, as vice president of strategy, she was responsible for identifying and advancing key themes of strategic importance, managing the corporate business planning cycle, and leading a variety of strategic initiatives. Prior to joining New York Life, Ms. Rodgers worked with the National Association of Securities Dealers (now FINRA) and Shearson Lehman Brothers. She holds a B.A. degree from Franklin & Marshall College. She resides with her family in New York City.

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.