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New York Life has remained committed through changing economic cycles, interest-rate environments and competitive dynamics

Key takeaways:

• New York Life has remained committed to Institutional Life for more than 35 years.
• The company's first BOLI policy, issued in 1992, remains in force today.
• Long-term institutional buyers benefit from carriers with stability, continuity and financial strength.
• New York Life applies the same long-term approach to BOLI, COLI and ICOLI clients.

In institutional insurance markets, commitment is proven over time.

 Purchases like Bank-Owned Life Insurance (BOLI), Corporate-Owned Life Insurance (COLI), and Insurance Company-Owned Life Insurance (ICOLI) are designed to span decades, requiring a carrier with financial strength, operational continuity, and — most importantly — a long-term mindset. In a market where many have entered opportunistically and exited just as quickly, permanence has become one of the most meaningful differentiators.

For New York Life’s Institutional Life division, permanence is not a marketing claim. It is a lived reality — demonstrated by the fact that the team continues to serve its very first BOLI client 35 years later.

A partner built for the long term

Throughout its more than 180-year history, New York Life has built a reputation for financial strength, sustainability and disciplined growth. That philosophy carries through to the company’s Institutional Life business, whose policies are issued by the affiliate New York Life Insurance and Annuity Corporation (NYLIAC). Here, commitment is measured not by chasing the latest fad or short-term market share, but by doing right by our clients and building a lasting presence in the markets we choose to enter.

While many carriers have exited institutional markets over time, New York Life and its affiliates have remained committed through changing economic cycles, interest-rate environments and competitive dynamics. The team strongly believes that when institutions are planning for the long term, they deserve partners who are built for the long term as well.

“In institutional insurance, continuity matters as much as pricing and product features,” said Mike Gamble, head of New York Life Institutional Life. “Our history underscores that we understand and embrace this responsibility.”

Consistency over decades

NYLIAC made its first BOLI sale on February 4, 1992.

That original policy — issued with more than $20 million in premium — is still in force today. Issued on more than 900 lives, the policy has paid out more than 290 death claims to date. NYLIAC continues to pay asset-based servicing fees on the policy to the broker on record — just as the team has consistently done over decades.

Commitment that extends beyond BOLI

The same philosophy that has defined New York Life’s BOLI presence applies to COLI and ICOLI as well.

For these buyers, this philosophy reinforces confidence that:

• NYLIAC AND New York Life are built for multi-decade relationships
• Market participation is driven by long-term alignment — not cyclical advantage
• Our client-first mindset seeks to optimize the relationship over time and evolve to provide top-notch service

Permanence: the foundation of trust

In today’s competitive environment, the emphasis is often, “What have you done for me lately?” While short-term performance has its place, the fundamental question institutional buyers must answer is:

Will this partner still be here — fully committed — decades from now?

Market permanence speaks directly to what truly matters:

• Stability through economic cycles and industry changes
• Reliability to meet original promises and obligations
• Alignment with long-term balance sheet and benefit obligations

“In a market where others have come and gone, New York Life Institutional Life continues to demonstrate what lasting commitment looks like,” added Gamble. “Permanence isn’t just a differentiator in institutional insurance, it’s the foundation of trust.”