NEW YORK, February 16, 2021 – New York Life, America’s largest mutual life insurer, announced today that the company’s president, Craig DeSanto, has been elected to its Board of Directors, effective immediately.
Mr. DeSanto was appointed president of New York Life in July of last year. He oversees all businesses of the company, including the Individual Life Insurance and Agency Distribution units, as well as Retail Annuities, New York Life Investment Management, and the company’s portfolio of industry-leading strategic insurance businesses, including the recently acquired group life and disability insurance business.
Chairman and CEO Ted Mathas and Mr. DeSanto represent the two officers of the company who serve as directors on the Board, which also includes 12 independent outside directors.
“Craig’s two-decade track record with the company of consistently strong leadership and business results strengthens the Board’s composition and reinforces our steadfast focus on operating New York Life for the benefit of our policy owners,” said Mr. Mathas.
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. LINA is not authorized in New York and does not conduct insurance business in New York.
*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+).
Go back to our newsroom to read more stories.