NEW YORK, N.Y., APRIL 15, 2008 – New York Life International, LLC, the international arm of New York Life Insurance Company, announced today that Anthony Mak has been named president and chief executive officer for its wholly-owned Hong Kong subsidiary, New York Life Insurance Worldwide Ltd. Mr. Mak has served as interim CEO since late January 2008, and is currently senior vice president and chief marketing officer responsible for planning, implementing and overseeing the company’s distribution networks, marketing and product development. The appointment is effective immediately.
“Anthony has an outstanding track record in the insurance industry throughout Asia and North America. I am confident he will lead our company to continued profitability and will help New York Life increase our share of the competitive Hong Kong life insurance market,” said John Harrison, vice chair, New York Life International, and chief executive officer - Asia region.
He added, “Anthony’s deep understanding of New York Life’s career agency system, and his success in recruiting and training the highest quality agents, will be of tremendous value to the operation as we build upon our strong base in Hong Kong and continue to differentiate ourselves as one of the most professional service providers in the marketplace.”
Mr. Mak is a life insurance-industry veteran with 20 years of management, agency sales, development and training experience. He began his life insurance career with New York Life in Toronto, Canada in 1988. In 1995, Mr. Mak joined Manulife in Hong Kong and held a number of senior positions in the insurer’s agency and training areas, including assistant vice president - agency operations, corporate agency manager and head of agency training and development. Mr. Mak re-joined New York Life in Hong Kong in 2004 as New York Life Insurance Worldwide’s chief marketing officer.
A native of Hong Kong, Mr. Mak holds an MBA degree and is a Chartered Insurance Agency Manager (CIAM). He and his wife Rosaline have two children.
In 2007, New York Life International’s operating revenue grew to $2.09 billion, up 17% over the prior year. Insurance sales for New York Life’s international operations increased 25% in 2007, to $652 million. In Hong Kong, new business premium was up 67% in 2007 with overall earnings increasing 41% over the prior year.
About New York Life
New York Life Insurance Worldwide Ltd., a wholly owned subsidiary of New York Life International, LLC, was established in Hong Kong in 1988 and is committed to providing its customers with a comprehensive range of life and medical insurance products and services.
New York Life International, LLC, the international arm of New York Life Insurance Company, offers insurance products through its subsidiaries and affiliates in Hong Kong, China, Taiwan, South Korea, India, Argentina, Mexico, and Thailand.
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 Investment Management LLC provides institutional asset management, retirement plan and trust 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
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|New York Life Appoints Anthony Mak As President And Chief Executive Officer For Its Hong Kong Operation|