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About New York Life Insurance Company

New York Life Insurance provides life insurance policies in all US states, as well as internationally. The company offers life insurance, retirement income, long-term care, investments and premier services. The products are marketed for individuals, families, and special group policies sold through other affinity groups and professional associations. Investment offerings include mutual funds for individuals and investment management services for institutional investors. Also known as, New York Life, it is owned by its policyholders. The company plans to acquire Cigna's group life & disability insurance business. The company was founded in 1845.


New York Life boasts a total of more than $1 trillion in life insurance policies in force (around 60% of total revenue), as well as more than $620 billion in assets under management (over 35%). Other revenues are generated from Surplus and Asset Valuation Reserve had almost $27 billion. Insurance and annuity sales had over $1 billion and more than $13 billion, respectively.

The company's individual life insurance policies — written by the firm and its New York Life Insurance and Annuity Corporation subsidiary — include whole, term, universal, and variable life policies. Individual investment products include annuities, mutual funds, exchange traded funds (ETFs), and the 529 college savings plans.

Geographic Reach

New York Life sells insurance and annuity products in the US and Mexico. It offers advisory and investment management in North America, Asia, Australia, and Europe. Headquartered in New York City, the company has offices across the US and in Belgium, France, Japan, Korea, Luxembourg, and Mexico.

Sales and Marketing

New York Life distributes its products primarily through its network of about 12,000 career agents operating from sales offices across the US. It also offers its services through third parties, such as brokers and financial advisors.

In addition to individuals and families, the company serves institutional customers including businesses, government agencies, not-for-profit entities, financial service firms, and multi-employer trusts.

The company also provides group annuities and funding agreements to institutional clients such as businesses, municipalities, and pension funds.

New York Life's marketing efforts include online video, social media, and digital sponsorship display campaigns.

Financial Performance

New York Life's sales declined slightly in 2019. Mutual Fund Sales increased 10% from $17.2 billion in 2018 to $18.9 billion in 2019, offset by decreases in Insurance Sales by 2% to $1.3 billion and Annuity Sales by 7% to $13.2 billion. Operating earnings increased 3% to $2.4 billion in 2019. New York Life's assets under management were $628.5 billion in 2019, a 10% from $572.3 billion in the prior year.


New York Life's long-time priority has been maintaining superior financial strength to back the insurance and annuity products that deliver the secure financial future its customers depend upon. The company's track record reflects its commitment to paying the strongest dividend possible each year, while maintaining unquestioned financial strength to back the long-term guarantees it makes.

New York Life's acquisition of Cigna's Group Life & Group Disability Insurance business in 2020 is part of this strategy. The acquisition is intended to broaden the diversity of its strategic business portfolio and enhance its financial strength. This acquisition can help contribute to the dividend even in a low interest rate environment and add millions of customers to the New York Life family.

New York Life's diversified strategic business include Group Membership, Institutional Annuities, Institutional Life, Long-Term Care, New York Life Business Solutions, New York Life Direct, New York Life Investments, Retail Annuities, and Seguros Monterrey.

Mergers and Acquisitions

In late 2019, New York Life acquired Cigna's group life and disability insurance business for $6.3 billion. Cigna is a leading global health service company. The acquisition of business will increase enhance the portfolio of strategic businesses of the acquiring company.

Company Background

The company began operating in 1845 as Nautilus Insurance Co., which became New York Life in 1849. In 1928 the company occupied its landmark headquarters building on Madison Avenue in New York City.

New York Life Insurance Company

51 Madison Ave Bsmt 1b
New York, NY 10010-1655
Phone: 1 (212) 576-7000

Firm Stats

Employer Type: Privately Owned
Vice Chairman, President, and President, Insurance and Agency Group: John Y. Kim
Chairman and CEO: Theodore A. Mathas
SVP, Chief Risk Officer, and Chief Actuary: Joel M. Steinberg
Employees (This Location): 4,400
Employees (All Locations): 12,150

Major Office Locations

New York, NY

Other Locations

Anchorage, AK
Juneau, AK
Birmingham, AL
Huntsville, AL
Montgomery, AL
Little Rock, AR
Scottsdale, AZ
Tucson, AZ
Brea, CA
Brentwood, CA
Fremont, CA
Fresno, CA
Glendale, CA
Irvine, CA
Los Angeles, CA
Monterey Park, CA
Oxnard, CA
Redding, CA
Riverside, CA
Roseville, CA
Sacramento, CA
San Diego, CA
San Dimas, CA
San Francisco, CA
San Jose, CA
San Mateo, CA
San Ramon, CA
Santa Barbara, CA
Woodland Hills, CA
Arvada, CO
Craig, CO
Denver, CO
Fort Collins, CO
Grand Junction, CO
Stratford, CT
Windsor, CT
Washington, DC
Newark, DE
Doral, FL
Jacksonville, FL
Lake Geneva, FL
Maitland, FL
Sebring, FL
Sunrise, FL
Tampa, FL
Alpharetta, GA
Atlanta, GA
Duluth, GA
Macon, GA
Savannah, GA
Lahaina, HI
Ankeny, IA
Hiawatha, IA
Coeur D Alene, ID
Bloomington, IL
Deerfield, IL
Downers Grove, IL
Schaumburg, IL
Carmel, IN
Fort Wayne, IN
Leawood, KS
Overland Park, KS
Wichita, KS
Baton Rouge, LA
Lafayette, LA
Monroe, LA
New Orleans, LA
Shreveport, LA
Waltham, MA
Bethesda, MD
Lutherville Timonium, MD
South Portland, ME
Grand Rapids, MI
Portage, MI
Minneapolis, MN
Saint Louis, MO
Springfield, MO
Hattiesburg, MS
Ridgeland, MS
Raleigh, NC
Fargo, ND
Omaha, NE
Manchester, NH
Lebanon, NJ
Livingston, NJ
Mount Laurel, NJ
Saddle Brook, NJ
Las Vegas, NV
Reno, NV
Brooklyn, NY
Fairport, NY
Latham, NY
Melville, NY
Monsey, NY
New York, NY
Rego Park, NY
White Plains, NY
Williamsville, NY
Cincinnati, OH
Dublin, OH
Independence, OH
Lakewood, OH
Youngstown, OH
Eugene, OR
Portland, OR
Salem, OR
Bala Cynwyd, PA
Horsham, PA
Jenkintown, PA
Johnstown, PA
Monroeville, PA
Charleston, SC
Greenville, SC
Rapid City, SD
Sioux Falls, SD
Chattanooga, TN
Franklin, TN
Knoxville, TN
Memphis, TN
Austin, TX
College Station, TX
Corpus Christi, TX
Dallas, TX
El Paso, TX
Fort Worth, TX
Houston, TX
Plano, TX
Sugar Land, TX
Texarkana, TX
Provo, UT
Glen Allen, VA
Norfolk, VA
Roanoke, VA
Vienna, VA
Rutland, VT
Aberdeen, WA
Bellevue, WA
Bremerton, WA
Federal Way, WA
Kennewick, WA
Appleton, WI
Madison, WI
Milwaukee, WI
Casper, WY
Ciudad De Mexico, Mexico
Frankfurt Am Main, Germany