NEW YORK, January 6, 2021 – New York Life, America's largest mutual life insurer, today announced that Claire L. Babineaux-Fontenot and Paula A. Steiner have joined the company’s Board of Directors, effective January 1, 2021. Ms. Babineaux-Fontenot, chief executive officer of Feeding America, the nation’s largest domestic hunger-relief organization, will also serve as a member of the Board’s Audit and Investment Committees. Ms. Steiner, the former chief executive officer of Health Care Service Corporation, the largest mutual health insurer in the United States, will join the Board’s Insurance & Operations and Investment Committees.
Ted Mathas, chairman and chief executive officer of New York Life, said, “We appreciate the opportunity to add the experience of Claire and Paula, two accomplished leaders, to New York Life’s Board. Both the Board and New York Life overall will benefit from their mission-alignment, strategic acumen, and operational expertise.”
Prior to joining Feeding America, Ms. Babineaux-Fontenot spent 13 years as a part of Walmart’s leadership team with her most recent role being executive vice president and global treasurer. Ms. Babineaux-Fontenot was named one of TIME's 100 most influential pioneers, leaders, titans, artists, and icons of 2020. She received her Bachelor of Science degree from the University of Louisiana in Lafayette, Juris Doctor from Southern University Law Center, and Master of Laws in Taxation from Southern Methodist University Dedman School of Law.
Chief Executive Officer of Health Care Service Corporation from 2016 to 2019, Ms. Steiner previously held senior leadership roles at HCSC and Blue Cross and Blue Shield Association. Ms. Steiner received her Bachelor of Arts in economics from Johns Hopkins University and a Master of Business Administration from the Wharton School of the University of Pennsylvania.
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**.
New York Life Group Benefit Solutions products and services are provided exclusively by or through Life Insurance Company of North America (“LINA”) or Cigna Life Insurance Company of New York (New York, NY) (“CLICNY”), or by or through affiliates or subsidiaries of Cigna Corporation and reinsured by LINA. LINA and CLICNY are responsible for their own financial condition and contractual obligations.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/18/2020. For methodology, please see http://fortune.com/fortune500/.
**Individual independent rating agency commentary as of 10/15/2020: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).
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