New York Life | April 20, 2023
A recent article in the Wall Street Journal, by writer Leslie Scism, describes how many publicly held insurance companies exited the business of selling individual life insurance when prolonged low interest rates hit both their profits and stock prices.
Read the entire article at the Wall Street Journal (subscription required).
*New York Life Insurance Company is a mutual insurance company, which means it is not publicly traded and has no shareholders. References to ownership refer to NYLIC's policyowners who purchase its participating products. These policyowners share certain membership rights, such as voting in board of directors elections and being eligible to share in annual dividends that are declared by the board. NYLIC is also the parent company of other wholly owned life insurance subsidiaries. Policies issued by these subsidiaries are not participating and do not share in these rights.
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