New York Life Ranks 30th on 2013 DiversityInc “Top 50 Companies for Diversity”
NEW YORK, April 24, 2013—New York Life has been named one of DiversityInc’s “Top 50 Companies for Diversity,” ranking 30th on the list. As a top company, New York Life was highlighted for its communications, leadership, procurement practices and training.
“New York Life is proud to be acknowledged by DiversityInc for our ongoing commitment to integrating diversity and inclusion into every aspect of our daily business operations,” said Joanne Rodgers, vice president and chief diversity officer, New York Life. “We believe a diverse culture produces the best possible results for our employees, the people we serve, and the communities in which we live and work.”
“We are very encouraged to see more companies applying for this distinction and embracing diversity more deeply than ever,” said Luke Visconti, CEO of DiversityInc. “It is clear that U.S. companies are increasingly conscious of the importance of diversity.”
DiversityInc 2013 survey results show that Top 50 companies have:
- 76 percent more Blacks, Latinos and Asians on their boards of directors than the Fortune 500
- 54 percent more women on their boards of directors than the Fortune 500
- 43 percent more women in the top level (CEO and direct reports) than the Fortune 500
- 16.6 percent more Blacks, Latinos and Asians in the top level (CEO and direct reports) than the Fortune 500
In addition, DiversityInc notes that Top 50 companies have 51 percent more employees in resource groups than they did five years ago and donated 53 percent more to multicultural charities than they did five years ago.
The process of determining The DiversityInc Top 50 Companies for Diversity is based completely on empirical data. Participation in the survey is free and companies that do business with DiversityInc receive no preferential treatment. In order to participate, an organization must have at least 1,000 employees and fill out a detailed, 300-question survey, which is divided into four equally weighted areas: CEO Commitment, Human Capital, Corporate and Organizational Communications, and Supplier Diversity. Each company is judged within its own industry and each application is vetted by DiversityInc staff. DiversityInc requires notarized CEO sign-offs on submissions from companies where it has not met with the CEO directly. For the 2013 survey, 893 companies participated. The full list can be found at www.DiversityInc.com/top50.
DiversityInc is the leading source of information on diversity management. The company is a consultancy and publishes two websites, www.DiversityInc.com and www.DiversityIncBestPractices.com, as well as a magazine, published five times a year. DiversityInc also produces diversity events, which average more than 600 attendees from 200 companies and have featured more than 20 CEOs of major corporations.
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 website 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 21, 2012. See http://www.money.cnn.com/magazines/fortune/fortune500/2012/faq/ for methodology.
** Source: Third Party Ratings Reports as of 2/1/13.
***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.