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New York Life Receives Whatworks® Award from Bersin by Deloitte

Company Recognized for Accelerated Leadership Program That Develops Future Leaders

NEW YORK, March 7, 2013 – New York Life today announced it has received a WhatWorks® Award from Bersin by Deloitte, the leading provider of research-based membership programs in human resources (HR), talent and learning. New York Life won the award for its Accelerated Leadership Program in the Developing Tomorrow’s Leaders category for excellence in employer training and development programs.

“New York Life is honored to receive an award that recognizes our long-term investment in our employees,” said Michael Molinaro, vice president and chief learning officer, New York Life. “We are also proud to be among other companies that have introduced groundbreaking approaches to training which have resulted in significant business improvements.”

“Implemented in a climate of ongoing market turbulence, the winning programs this year focused heavily on business agility, analytics, continuous development, collaboration and change management,” said David Mallon, vice president of research, Bersin by Deloitte. “Among the other themes that emerged were the need to invest in tomorrow’s leaders from within their ranks to combat a worldwide shortage of leadership talent; the need to have a simple, sustainable framework for matching competencies to roles for better talent management; and the need for organizations to mine current and past employee populations to compete for the best talent.”

New York Life’s Accelerated Leadership Program is a 14-month development experience designed to:

  • Enhance the leadership bench at New York Life
  • Prepare participants for future key roles across the company
  • Provide a channel for business knowledge transfer
  • Increase the company’s capacity for innovation, teamwork and problem solving
  • Build a diverse network of colleagues who have a deeper knowledge of the company, its culture and the industry overall
  • Develop solutions to specific “Challenge Projects” sponsored by senior business and functional heads

In addition to the Developing Tomorrow’s Leaders category, Bersin by Deloitte also made awards in Acquiring Top Talent, Delivering Innovation, Enabling High Impact Learning, Optimizing Talent Management, and Transforming HR.

Bersin & Associates LLC conducted the awards program in cooperation with Human Resource Executive® magazine. Winners were chosen from hundreds of applicants and include industry leaders in business processes, consulting, financial services, food products, government, hospitality, information technology, insurance, media and software.

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 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.