New York Life President Named to Board of Indian Joint Venture Company
NEW YORK, N.Y., February 23, 2005 — New York Life Insurance Company announced today that Frederick J. Sievert, president of New York Life, has joined the Board of Directors of Max New York Life Insurance Company, Ltd., the company's joint venture with Max India, Ltd.
"In a short span of four years, India has emerged as the leading light in New York Life's international operations on many measures of success," said Frederick J. Sievert. 'I am pleased to see that the management team has established a strong foundation for a company that is committed to operating under the highest standards of integrity and professionalism. I look forward to my new role and hope to contribute to the company's success in India."
Announcing Sievert's appointment, Analjit Singh, chairman, Max New York Life, said, "I am delighted to welcome Fred into the Board of Directors. He is highly regarded in the insurance domain and will be able to bring his firsthand experience to bear on the board of Max New York Life. Indeed, the appointment of someone of Fred's stature and seniority is a clear indication of New York Life's commitment to this partnership and an added strength to our company."
Mr. Sievert was elected president of New York Life in 2002 and joined its Office of the Chairman in January 2004. He joined New York Life in 1992 as senior vice president and chief financial officer with responsibility for the Financial Management department of Individual Operations. In 1994, he assumed responsibility for the Individual Life, Individual Annuity, and Disability Income departments and in 1995 became an executive vice president with additional responsibility for Individual Policyholder Services. He was elected to the Board of Directors in November 1996, and became vice chairman in January 1997. In 1999, his responsibilities were expanded to include Special Markets and Corporate Marketing as well as overall management responsibility for New York Life's domestic Life and Annuity operations, the company's largest business unit.
Max New York Life, a joint venture between Max India Limited and New York Life, a Fortune 100 company, is one of India's leading private life insurance companies. The company offers both individual and group life insurance solutions. It has established a wide distribution network with 48 offices and representatives across 34 cities in India. Max New York Life offers 14 products and nine riders that can be customized to over 400 combinations. Through its wide network of highly competent life insurance Agent Advisors and flexible products and solutions, Max New York Life is creating a partnership for life with its customers in India.
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. Headquartered in New York City, New York Life's family of companies offers life insurance, annuities and long-term care insurance. New York Life Investment Management LLC 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.
New York Life International offers insurance products through its subsidiaries and affiliates in Argentina, China, Hong Kong, India, Mexico, the Philippines, South Korea, Taiwan, and Thailand.
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|Frederick J. Sievert Joins Board Of Directors Of Max New York Life Insurance Company|