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New York Life Names Michael Gallo To Head Up Long-Term Care Operation

NEW YORK, N.Y., April 7, 2009 – New York Life Insurance Company today announced that Michael Gallo has been appointed Senior Vice President of the company’s Long-Term Care Operation, based in Austin, Texas. He reports to Senior Vice President John Meyer, chief operating officer, Retirement Income Security. Mr. Gallo succeeds retired Senior Vice President Dennis O’Brien, who had led the operation since 2006.

Mr. Gallo is now responsible for overseeing the company’s Long-Term Care Operation, the nation’s sixth largest provider of individual long term-care insurance, including all facets of product development, marketing and administration of New York Life’s long-term care insurance line.

“Mike’s vast experience in the life insurance and guaranteed lifetime income businesses will help further the fine work that Dennis has done,” said Chris Blunt, executive vice president in charge of Retirement Income Security.

New York Life recently announced that it had appointed Mr. Blunt to run the Retirement Income Security business, which encompasses income and investment annuities, the distribution of mutual funds, and long-term care insurance. The new division will focus on leveraging New York Life’s financial strength, innovation and leadership position as the country’s largest mutual life insurer to provide products and services that will help address Americans’ retirement security challenge.

Mr. Gallo joined New York Life as an actuarial trainee in 1976. After serving in varied capacities throughout the company, he was elected vice president and chief administrative officer in the individual operations area. In January 1994, he was named senior vice president in charge of the Northeastern Zone. In 1995, he became senior vice president in charge of the Individual Life Department. In 2005, he was appointed chief of staff to the chief operating officer of Life and Annuity and U.S. Insurance Operations. In 2007, he was appointed senior vice president of Retirement Income in the Guaranteed Lifetime Income Department, where he was responsible for overseeing the income annuity business.

Mr. Gallo earned a B.S. degree in Mathematics from Manhattan College. He also graduated from The Harvard Business School Advanced Management Program, and earned an F.S.A. (Fellow of the Society of Actuaries) designation and an M.A.A.A. (Member of the American Academy of Actuaries) designation.

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.

Visit New York Life’s Web site at www.newyorklife.com for more information.

* "New York Life Investments” is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

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New York Life Names Michael Gallo To Head Up Long-Term Care Operation

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