NEW YORK, N.Y., May 20, 2008 – New York Life Insurance Company announced today it will donate $100,000 to aid and support earthquake relief efforts in China.
Ted Mathas, president and chief operating officer of New York Life, said, “On behalf of the entire New York Life family, we extend our heartfelt sympathy to all those affected by the devastating earthquake in the Sichuan Province. The people caught in the disaster area and the rescue workers making valiant efforts to save lives have been in our thoughts and prayers since we learned of this tragic event and accordingly, the company will be making a contribution to help those in need. In addition, our employees and agents in China immediately began to contribute cash and supplies to help local employees, agents, policyholders and families affected by the earthquake. We applaud their humanity and are greatly relieved that Haier New York Life employees and agents in the affected areas were spared. Our support for our joint venture is strong and our commitment to be there when our policyholders and friends need us is unwavering. We are confident the people struck by this disaster will find the courage to emerge from this challenge and New York Life will stand firmly beside them.”
Mr. Mathas said that New York Life plans to donate $100,000 to the relief effort, with an initial $50,000 going to the Chinese Red Cross and an additional $50,000 to other designated relief organizations. New York Life will be matching contributions by its thousands of domestic and international employees and agents.
“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. Mathas said.
New York Life’s international arm, New York Life International, LLC, operates a joint venture in China, Haier New York Life. The operation’s presence in the Sichuan province includes offices in Chengdu, Deyang, Guanghan and Zhongjiang. In addition to China, New York Life operates in seven other international markets in Asia and Latin America.
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 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.
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|New York Life to Donate $100,000 to China Earthquake Relief Effort|