NEW YORK, February 2, 2010 - New York Life Insurance Company announced today it will increase its donation to Haiti earthquake relief efforts by raising the company match amount to $300,000. The company's promise to match all agent and employee donations is now double its earlier amount of $150,000 for a potential contribution of $700,000. That amount includes a corporate contribution of $100,000 to the American Red Cross in the immediate aftermath of the earthquake.
Ted Mathas, chairman, president and chief executive officer of New York Life, said, "Our agents and employees have always shown extraordinary compassion when disaster strikes and they've already exceeded the $150,000 initial company match amount. As the urgent need for relief continues for earthquake victims in Haiti, we wanted to recognize the generosity of our agents and employees by raising the match limit to $300,000."
Coupled with its previous gift of $100,000, New York Life and its employees and agents are now poised to contribute up to $700,000 toward food, water, medical supplies and shelter for the millions affected by the earthquake. In addition to the Red Cross, the company has identified seven other groups that are playing a major role in the relief effort: AmeriCares, CARE, Heart to Heart International, Save the Children, United Nations World Food Program, UNICEF, and United Way Worldwide Disaster Fund. Employees and agents can designate any organization or combination of organizations to receive funds, and the company will match the contribution dollar-for-dollar.
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.
*New York Life is the largest mutual life insurance company based on the Fortune 500, ranked within industries, Insurance: Life, Health (Mutual), Fortune magazine, May 4, 2009.
**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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|New York Life Raises Matching Contribution For Haiti Relief To $300,000 For Total Giving Of $700,000|