NEW YORK, N.Y., March 25, 2009 – New York Life International, LLC, the international arm of New York Life Insurance Company, announced today the appointment of Arthur Belfer as executive vice president and chief executive officer - Asia Sub-Region. In his new role, Mr Belfer will oversee the insurer’s Korea and Thailand operations, working closely with the local country heads as they build and expand New York Life’s successful businesses in these countries. Mr Belfer will report directly to John Harrison, vice chairman, New York Life International, and chief executive officer – Asia region.
“With his extensive expertise and outstanding track record in the insurance industry, Arthur is an ideal choice for this new role,” said Harrison. “As our business grows and gains momentum in Asia - especially in these two critical markets - Arthur will be able to provide additional leadership and strategic value as we continue to differentiate ourselves as one of the most professional service providers in our business.”
Harrison added: “Throughout Asia, we remain committed to driving quality performance and profitable growth. This is why we have stayed focused on building our leadership strength and effective strategic management, as evidenced by the number of new senior hires in the past year. We have also been growing our regional managerial and support operations; against the industry trend, headcount in our Asia headquarters has increased by 22% over the past twelve months.”
Mr Belfer brings 30 years of business and insurance industry experience to New York Life International, of which the last 22 years were spent in Asia. Most recently, since 2007, he served as executive vice president and regional director, Enterprise Risk Management for all of AIG’s Asia operations excluding Korea and Japan. In 1992, he established AIG’s Asia Pacific Life Operations (APLO) Region - which grew to five countries - where he created a strong track record of success and growth, and led the region for 15 years. Mr Belfer began his career in Asia in 1987 with John Hancock International Services Ltd., where he served as the regional senior actuary for the Asian operations.
Mr Belfer earned his degree in accounting from the University of Michigan in Ann Arbor, Michigan and is a C.P.A. He is also a Fellow of the Society of Actuaries, USA, and holds membership in several other international actuarial organizations.
Mr. Belfer will be based in Hong Kong.
About New York Life
New York Life International, LLC is the international arm of New York Life Insurance Company, and 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 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.
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