New York Life Insurance Company of early 21st Century
New York Life Insurance Company of early 21st CenturyIn November 2013, the company announced it would not participate in the Troubled Asset Relief Program.
"The company can meet all of its strategic objectives without
government capital, its businesses are strong and profitable, and it is
committed to remaining a mutual company operating for the sole benefit
of its policyholders," states a company press release.
According to their Report to Policyholders 2012, in early 2012 the
company's managers became concerned about the state of credit markets,
so in February 2012 "based on our belief that the markets were acting
irrationally" New York Life decided to move much of its cash flow into
safer investments such as US Treasury bonds. "By August 2012, the credit
market problems we had feared were front page news,Theodore "Ted" Mathas, president and CEO in 2013, said at the time of
the financial crisis that New York Life is "built for times like
these." This phrase became the title for the 2013 report to
policyholders. Ted Mathas becomes the company chairman on June 1, 2013New York Life maintains "superior" financial ratings from A.M. Best, Fitch, Moody's and Standard and Poor's, all of which have reaffirmed the ratings during the financial crisis of autumn 20016
According to their Report to Policyholders 2012, in early 2012 the
company's managers became concerned about the state of credit markets,
so in February 2012 "based on our belief that the markets were acting
irrationally" New York Life decided to move much of its cash flow into
safer investments such as US Treasury bonds. "By August 2012, the credit
market problems we had feared were front page news,Theodore "Ted" Mathas, president and CEO in 2013, said at the time of
the financial crisis that New York Life is "built for times like
these." This phrase became the title for the 2013 report to
policyholders. Ted Mathas becomes the company chairman on June 1, 2013New York Life maintains "superior" financial ratings from A.M. Best, Fitch, Moody's and Standard and Poor's, all of which have reaffirmed the ratings during the financial crisis of autumn 20016
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