Company employees and agents in Thailand and India volunteer in relief efforts
NEW YORK, N.Y., January 7, 2005 — New York Life Insurance Company announced today it expects to donate $1,000,000 to tsunami relief efforts.
Sy Sternberg, chairman and chief executive officer of New York Life, said, "This horrific natural disaster has ignited the compassion of the world's citizens. Our company's commitment to humanity has guided us throughout our long history, so it's only right that we make a substantial contribution to help alleviate the suffering of so many individuals, families and communities."
Mr. Sternberg said that New York Life will immediately donate $500,000 to the International Federation of the Red Cross and Red Crescent Societies (IFRC), the world's largest humanitarian organization. New York Life will also match contributions by its thousands of domestic and international employees and agents to designated relief organizations-an amount expected to reach up to an additional $500,000.
"Our employees and agents have always given generously of their time and money in times of need, and New York Life would like to recognize their generosity through this dollar-for-dollar match," Mr. Sternberg said. The New York Life Foundation will match contributions to the IFRC made by U.S. employees and agents, as well as U.S. agent donations to the Million Dollar Round Table Foundation's tsunami relief fund. New York Life will also match contributions to designated local relief organizations made by Thai and Indian agents and employees.
"Reports from our operations in Thailand and India tell of tremendous outpourings of assistance by our employees and agents. Many have traveled to the affected areas to personally distribute food and medical supplies. Others have given blood or have pledged personal financial contributions to relief organizations. We applaud their humanity and are greatly relieved that New York Life employees and agents in the affected countries were spared," Mr. Sternberg said.
In addition to India and Thailand, New York Life operates in seven other markets in Asia and Latin America.
Rating: 0/0 (0 votes cast)
Consult an Agent:
At no charge to you, a New York Life Agent — professionally trained and experienced — can help you analyze your needs and recommend appropriate solutions through insurance and financial products and concepts. Request a no-obligation review with a New York Life Agent.
New York Life Insurance and Annuity Company does not provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.
|New York Life to Give $1 Million to Tsunami Relief Effort|