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New York Life Names Troy Glover to Head up Long-Term Care Operation

Veteran Executive Michael Gallo to Return to Home Office After Strong Leadership and Growth of Long-Term Care Business

NEW YORK, N.Y., October 18, 2012 — New York Life today announced the appointment of Troy Glover as senior vice president in charge of the company’s Long-Term Care Insurance operation, based in Austin, Texas. He reports to Paul Pasteris, senior vice president and chief administrative officer of the company’s Insurance Group. Mr. Glover will succeed Senior Vice President Michael Gallo, who has led the operation since 2009. To ensure a seamless transfer, Mr. Gallo will remain in Austin for a transition period after which he will return to the company’s Home Office in New York City, where he will work on key initiatives for the Insurance Group.

Mr. Glover will be responsible for overseeing the company’s Long-Term Care operation including all facets of product development, marketing and administration of New York Life’s long-term care insurance line.

“We are pleased to turn to a member of our management team to assume this important role and believe that Troy’s substantial experience in the industry and with long-term care insurance will continue our success in this area,” said Chris Blunt, president of New York Life’s Insurance Group. “Addressing long-term care risk is vital to comprehensive retirement planning and we remain committed to serving the growing needs Americans have in this area.”

Mr. Glover joined New York Life as a director in the Variable Products Service Center in 2000 and held various positions of increasing responsibility before being named chief operating officer of the company’s Long-Term Care Insurance operation in 2009 with oversight of information technology, marketing, actuarial, product development and financial accounting areas. Prior to joining New York Life, he held positions at Merrill Lynch and Prudential.

Mr. Glover earned a bachelor’s degree in sociology from Brandeis University and an MBA from Cornell University’s Johnson School of Management. Mr. Glover is originally from Newark, NJ and currently resides in Austin, TX.

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 for more information.

*Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine, May 21, 2012. See for methodology.
**Source: Individual Third Party Ratings Reports as of 6/22/12.
*** 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.