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Working Mother Magazine Ranks New York Life Among the Best Companies for Multicultural Women

NEW YORK, May 26, 2011 — New York Life Insurance Company has been named Best Company for Multicultural Women by Working Mother magazine. The magazine honors 23 companies in the June/July issue to promote the interests of women of color in corporate America. New York Life was recognized for being successful in bringing minority women into professional and leadership positions.

“New York Life, a new presence on Working Mother’s Best Companies for Multicultural Women list, is proactively ensuring the diversity of its workforce,” said Jennifer Owens, Director of the Working Mother Research Institute. “The company has been honored for its programs that seek out and retain diverse talent—setting the standard for a positive work environment and a strong bottom line.”

“It’s a great honor to be recognized by Working Mother as a ‘Best Company for Multicultural Women’,” said Lance LaVergne, vice president and chief diversity officer, New York Life. “This important acknowledgement underscores the company’s commitment to encouraging a culture of diversity and inclusion and our continuous effort to develop and implement programs that support the professional development of multicultural women, one of our most vital sources of talent.”

New York Life was recognized by the magazine for employing hallmark policies to ensure the advancement of multicultural women, including:

  • Career counseling and guidance from senior leaders to female multicultural employees to help orchestrate career plans, gain access to key assignments and enhance their knowledge of what it takes to advance;
  • Executive diversity groups to grow knowledge of inclusion practices;
  • Regional conferences to actively seek out female professionals and underrepresented minorities; and
  • Diversity and inclusion goals built into managers’ performance objectives.

To be considered for Best Companies for Multicultural Women, each company applied and supplied Working Mother with 2010 data about the hiring, pay and promotion of multicultural employees. The application focused on representation of multicultural women; recruitment; retention and advancement programs; and company culture. An independent survey research firm tabulated the scores. The 2011 Best Companies for Multicultural Women is chronicled in the June/July 2011 issue of Working Mother magazine. Extended coverage can be found at workingmother.com.

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 from all four of the major credit rating agencies. 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 institutional and 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.

**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.

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