New York Life's George Nichols Named One of Corporate America's Most Influential Blacks By Savoy Magazine
NEW YORK, NY, March 14, 2012 - New York Life announced today that George Nichols III has been named one of the Top 100 Most Influential Blacks in Corporate America by Savoy magazine. Mr. Nichols, senior vice president in charge of New York Life’s Office of Governmental Affairs, is responsible for federal and state government relations and the company’s Political Action Committee, the largest in the insurance industry.
According to Savoy magazine’s recent announcement, Mr. Nichols was named as one of its 100 Most Influential Blacks in Corporate America based upon his exemplary record of accomplishments and achievements in various spheres of influence, his community outreach, and efforts to help improve the community and inspire others. He is the senior executive mentor of New York Life’s African-American employee resource group.
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.
Mr. Nichols is a member of the company’s Executive Management Committee, which is comprised of New York Life’s senior executive leadership and assists the chief executive officer in setting policy for the company.
Mr. Nichols joined New York Life as a senior vice president and assistant to the chairman in 2001. From 2001 to 2003, Mr. Nichols was senior vice president in the Agency Department, where he was responsible for overseeing the distribution of New York Life products. In 2003, Mr. Nichols was appointed senior vice president and profit center head for New York Life’s AARP Tampa Operations, the largest direct marketer of life insurance in the United States. He was named to his current role in 2006.
Prior to joining New York Life, Mr. Nichols was the commissioner of the Kentucky Department of Insurance, where he was responsible for regulating Kentucky’s $10 billion insurance industry. Before that, he was the executive director of the Kentucky Health Policy Board; vice president of marketing for Athena of North America; executive director of product development of Southeastern Group, Inc. (dba Blue Cross and Blue Shield of Kentucky); chief executive officer of Central State Hospital in Louisville; and executive assistant to the commissioner of the Kentucky Department for Mental Health/Mental Retardation Services.
Mr. Nichols was Kentucky’s first African-American insurance commissioner (1995), the first African-American president of the National Association of Insurance Commissioners (NAIC) (1999), and the first African-American elected to New York Life’s Executive Management Committee.
Mr. Nichols received an M.A. degree from the University of Louisville, a B.A. degree from Western Kentucky University, and an A.A. degree from Alice Lloyd College. Mr. Nichols served as president of the NAIC and chairman of the International Relations Committee from 1999 to 2000. In 1996, he served as special advisor to Kentucky’s Governor, advising on health care policy and economic development for the financial services industry. He resides in Potomac, Maryland, with his wife, Cynthia Jean, and their three children.
Savoy is a cultural catalyst for the African-American community—a magazine that showcases and drives positive dialogue on and about black culture. With its unique mix of stunning photography from major events, in-depth reporting, and social commentary, Savoy accelerates ideas and images to center stage. Each issue, Savoy is an unrivaled media event that reaches the progressive, modern and sophisticated African-American consumer who demands the best in news coverage and that their voice is heard. For more information about Savoy magazine, visit www.savoynetwork.com.
About New York Life
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.