NEW YORK, November 30, 2020 – New York Life, America’s largest mutual life insurer, today released the company’s 2019-2020 Corporate Responsibility Report. The report highlights New York Life’s Corporate Responsibility strategy and priorities, which are determined by the company’s stakeholders – policy owners and clients, employees and financial professionals, communities, and service providers.
In his introduction to the report, New York Life CEO Ted Mathas writes, “When you’re in business for 175 years, people often wonder how you are able to do it and what sets you apart. While many factors play into longevity, looking back at New York Life’s history, nothing else has distinguished us more than the fact that we have remained a mutual company. This decision continues to define who we are and guides our decisions and actions in our business and our broader responsibilities in society…While the products and services we offer deliver the social good of financial security, our corporate responsibility initiatives are also closely tied to our business purpose.”
The report highlights New York Life’s progress across the company’s four corporate responsibility priorities which include:
In addition to reporting on these priorities, the 2019-2020 Corporate Responsibility Report also details New York Life’s COVID-19 response including:
Mathas continued, “I’m proud of the work we’ve done on these fronts…But the bar is always getting higher, and we know we must continue to raise it for ourselves. Our value of integrity means doing the right thing no matter what. And we are humbly confident that we will continue to learn from experience to better support and uplift each other, our communities, and society at large for generations to come.”
To view New York Life’s 2019-2020 Corporate Responsibility Report, visit here.
About New York Life
New York Life Insurance Company (www.newyorklife.com), 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, retirement income, investments and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies**.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/18/20. For methodology, please see http://fortune.com/fortune500/.
**Individual independent rating agency commentary as of 9/12/19: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).
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