One certainty, however, is that attempting to accurately predict the day-to-day movements of the market is a strategy doomed to fail. NEW YORK LIFE INSURANCE COMPANY 2019 REPORT TO POLICY OWNERS 3 It is a privilege to share the progress of your company as we mark our 175th year in business. [16] Later that year, New York Life's assets survived the stock market crash; state regulation and company investing policy had led New York Life to invest in government bonds and real estate, not common stocks. But that’s really a case of trading one potential risk for two others (inflation risk and longevity risk) that are much more likely, which can leave you even further from your goals than when you started. [9][10] Originally chartered in 1841, the company also sold fire and marine insurance. In fact, aside from periodic rebalancing, the best thing you can probably do is to turn off the financial news and allow time to do its job. New York Life issues the GIA group annuity contract and provides the guarantee of principal and accumulated interest. Even when there’s a broad-based global economic expansion underway, certain countries, sectors, and asset classes will significantly outperform others. [9] The board of trustees voted to end the sale of insurance policies on slaves in 1848. It has provided its policyholders with financial security and investment opportunities since 1841. [16] Fearful of the stability of the market during the two years prior to the financial crisis of 2007–2008, New York Life moved its cash into other investments such as treasury bonds. [45], The company also emphasizes giving to various cultural communities, including the African-American community. [16][24] As of 2016, the company has paid a dividend every year since 1854. [24] The company operates New York Life Direct, selling direct-to-consumer policies, and is the exclusive life insurance partner of the AARP. Sun Life Financial View Total Assets Insurance … It’s important, however, to not just diversify across the various asset classes, but also globally (75% of the world’s GDP is generated outside the U.S.).1. It played a key role in the development of the U.S. life insurance industry. Whatever life brings, we want you to be prepared. NEW YORK, February 24, 2014 — New York Life today announced the launch of an enhanced Asset Preserver [1], a life insurance product that provides a way to help cover the costs of long-term care, provide liquidity, and leave a legacy for heirs. [citation needed] Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds. [14] In the ensuing financial crisis, New York Life Insurance Company rejected assistance from the U.S. Treasury Department. Swiss Life Group View Total Assets Insurance Europe 26. [16], Following World War II, New York Life further diversified; it invested in real estate development in the late 1940s and launched a mortgage-loan program for veterans in 1946. [45] Its partners and programs include the National Alliance of Grieving Children, Grief Reach, Coalition to Support Grieving Students, Camp Erin/Moyer Foundation, Tragedy Assistance Program for Survivors and Boys and Girls Clubs of America. Universal Life with Long-Term Care MoneyGuard ® Reserve New York Life Asset Preserver UL with Long Term Care Overview MoneyGuard® Reserve is a universal life insurance policy with a rider that accelerates the specified amount to pay for covered long term care (convalescent © 2020 New York Life Insurance Company, New York, NY. Assets under management includes the assets of the investment advisors affiliated with New York Life Insurance Company. [9][11], In its early years (1846–1848) the company, along with other insurance companies of the day including Aetna and US Life, insured the lives of slaves for their owners. [28] New York Life Investments ranks No. [9] The company also sold policies to soldiers and civilians involved in combat during the American Civil War and paid claims under a flag of truce during that time. Asset allocation refers to the percentage of stocks, bonds, and cash in your portfolio. This product is designed to help individuals guard against today’s surging costs of long-term care, including nursing home care, assisted living and extended at … [7], By the end of 2019, New York Life had earned the highest financial strength ratings from major four rating agencies: A++ from A.M.Best, AAA from Fitch Ratings, Aaa from Moody and AA+ from Standard & Poor's. The Brave of Heart Fund In response to the pandemic, we have launched the Brave of Heart Fund to provide financial assistance to the families of healthcare … [45] It sponsored the HBO documentary One Last Hug. [25] Through Seguros Monterrey New York Life, the company offers insurance in Mexico. Assets under management includes the assets of the investment advisors affiliated with New York Life Insurance Company. New York Life Insurance Company 51 Madison Avenue New York, NY 10010 www.newyorklife.com (800) CALL-NYL LEARN MORE ABOUT OUR HISTORY To hear stories about how New York Life has been helping people build better futures for 175 years, visit www.newyorklife.com 28643ny_cvr.indd 1 … For long-term investors, the best way to grow your assets while minimizing your risk is by way of two fundamental investment strategies: asset allocation and diversification. New York Life Insurance Company operates as an insurance company. In 2007, NYLIC achieved the best possible ratings by the four independent rating companies (Standard & Poor's, AM Best, Moody's and Fit… Eagle Strategies LLC and NYLIFE Securities LLC are New York Life Companies. And today, given the wide range of ETFs and no-load mutual funds available, you can invest in hundreds of established and emerging global leaders with just one or two carefully chosen funds. AUM: As of September 30, 2020. 69 on the Fortune 500. The company operates through three core businesses: General Insurance, Life & Retirement, and a standalone technology-enabled subsidiary. No insurance business may … [23][24] New York Life also sells term life insurance, universal life insurance, variable universal life insurance, long-term care insurance and annuities. New York Life Insurance Company (NYLIC) is the third-largest life insurance company in the United States,[5] the largest mutual life insurance company in the United States[6] and is ranked #71 on the 2019 Fortune 500 list of the largest United States corporations by total revenue. A 60-year-old buyer paying a single premium of $100,000 for an Asset Flex policy has access to as much as $461,695 for covered LTC services and/or $153,899 in life insurance protection, NY Life … (212) 419-8286 [11] The company's first president, James De Peyster Ogden, was appointed in 1845. Swiss Reinsurance Company Ltd View Total Assets Insurance Europe 25. MainStay Mutual Funds [7] NYLIC has about $593 billion in total assets under management, and more than $25 billion in surplus and AVR. [47] In 2017 Fortune named New York Life among its Most Admired Companies in the life insurance industry. 71 on the Fortune 500. [16] New York Life's growth was in part fueled by its introduction of a system by which the company used agents to find new business. Because of this, it’s important to avoid the common mistake of gauging your portfolio’s investment performance against the returns of the Dow Jones Industrial Average (which represents just 30 of the largest U.S. companies) or even the S&P 500®, which is comprised solely of large cap U.S. stocks. Asset Flex can provide you with the flexibility you need by combining a … AUM: As of September 30, 2020. Not only is there tremendous economic growth occurring in markets around the globe, they provide you with a tremendous opportunity to achieve considerably greater diversification. As of January 1, 2019, AIG companies employed 49,600 people. With a workforce of more than 23,000 financial professionals and employees, New York Life has $628 billion in total assets under management (as of 12/31/2019)6. [9][19] In the 1970s, New York Life began selling annuities and mutual funds. All Rights Reserved. Retirement Plan Services. [16] In the late 1990s and early 2000s, as other mutual life insurance companies became publicly traded corporations, New York Life remained a mutual company. NYLIC has about $593 billion in total assets under management, and more than $25 billion in surplus and AVR. I am pleased to tell ... Surplus and Asset Valuation Reserve3 In $ Billions 24.8 24.2 23.3 22.7 27.0 2017 2016 2015 2018 2019 Notes appear on … New York Life Insurance Company is one of the five largest mutual insurance companies in the United States. By 1847 these accounted for one‑third of New York Life's policies. [16] New York Life entered the Mexican market in 1999 when it acquired Seguros Monterrey from Aetna. Despite the fact that 96% of the world’s population (generating 75% of the world’s GDP)1 live outside the U.S., our financial vision tends not to extend past our shores. Page 1 of 2 . [26], New York Life's core product is whole life insurance, a type of life insurance offering lifelong protection that builds cash value over time. [51], "New York Life Investments Partners with CBRE to Add Global Infrastructure and Real Estate Strategies to Fund Family", "Insurance Policies on Slaves: New York Life's Complicated Past", "New York Life leases 3 floors at 200 Public Square, will bring hundreds of jobs to downtown Cleveland", "Landmarks Preservation Commission February 10, 1987; Designation List 187 LP-1512", "NY Life ex-Chairman Sy Sternberg on Trust in the Life Insurance Business: Trust Quotes #16", "New York Life Insurance Company History", "New York Life Insurance to buy Mexican insurer for $570 million", "Two insurers reject government bailout help", "New York Life buys Dexia Asset Management arm for $512M", "Company Overview of Seguros Monterrey New York Life, S.A. de C.V.", "New York Life builds on AARP knowledge to expand direct sales", "Ausbil MicroCap Fund makes key appointments", "Fund manager Ausbil Dexia will embrace New York Life", "Candriam bien parti pour atteindre 150 milliards d'euros d'actifs dans cinq ans", "Candriam Investors opens New York office", "Candriam looks to seize the retail space", "New York Life Investments takes majority stake in Credit Value Partners", "GoldPoint reaffirms middle-market mezzanine financing with fourth fund", "New York Life to enter ETF market with acquisition of IndexIQ", "Why ProShares yanked ETFs from Schwab's no-commission OneSource ETF exchange", "MacKay Shields: Investment Manager Highlight", "Madison Capital Funding's Klimmeck, Marks to exit at end of 2017", "Private advisors shakes up hedge fund investments, staff", "Heather Nesle, president, New York Life Foundation", "New York Life gives $10M to City College", "Financial Strength Ratings from Four Rating Agencies | New York Life", National Mutual Insurance Federation of Agricultural Cooperatives, https://en.wikipedia.org/w/index.php?title=New_York_Life_Insurance_Company&oldid=991606664, Insurance companies based in New York City, Mutual insurance companies of the United States, Financial services companies established in 1845, Short description is different from Wikidata, Articles with unsourced statements from April 2020, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, Ausbil, an Australian investment boutique specializing in equities, Credit Value Partners, which specializes in opportunistic, distressed debt and high-yield corporate credit, GoldPoint Partners, a private equity firm, IndexIQ, which specializes in exchange-traded funds and alternative investment strategies, MacKay Shields, an asset management firm that focuses on income generation and offers capital growth through mutual and hedge funds, Madison Capital Funding, which provides financing to private equity firms, Private Advisors, an asset manager specializing in hedge funds and private equity funds, This page was last edited on 30 November 2020, at 22:58. The products and services of New York Life Investments' boutiques are not available in all jurisdictions or regions where such provision would be contrary to local laws or regulations. Receive resources & tools that can help you prepare for the future. NEW YORK, August 22, 2017—New York Life, America’s largest mutual life insurer, today introduced New York Life Asset Flex, a new way for consumers to plan for their financial needs later in life while protecting their retirement savings. Regardless of your chosen asset allocation, the more diversified your portfolio, the more predictable and less volatile your returns. With Asset Flex from New York Life Insurance and Annuity Corporation, you’ll have peace of mind knowing you’ll have long-term care benefits available if you need them, and a death benefit for your beneficiaries if you don’t. Assets under management includes the assets of the investment advisors affiliated with New York Life Insurance Company. [21], Following the 2013 acquisition of Dexia Asset Management, later renamed Candriam Investors Group, New York Life Investments became one of the largest asset managers worldwide, with access to markets in Europe, Asia and Australia, in addition to the United States. And investor sentiment can turn on a dime. Although the two terms are often used in tandem, asset allocation and diversification describe different but related strategies. [5] A mutual insurance company, New York Life is owned by its policyholders and has no outside shareholders. Being prepared looks different across all phases of life. New York Life Insurance Company (NYLIC) is the third-largest life insurance company in the United States, the largest mutual life insurance company in the United States and is ranked #71 on the 2019 Fortune 500 list of the largest United States corporations by total revenue. By reducing overall portfolio risk through effective asset allocation and diversification, you won’t keep pace with the returns of the best performing asset class each year, but you also won’t match the returns of the worst performing asset class. For example, given your age, goals, and risk tolerance, perhaps a 60% stock, 30% bond, and 10% cash allocation is appropriate for your needs. 23. [27], New York Life's global asset management business serves both institutional and retail clients. New York Life Insurance Company, 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. We believe in the importance of human guidance and in trusted relationships built on being there when our customers need us most. [22], As of 2016, New York Life Insurance Company was the country's third-largest life insurance company. Instead, these strategies are specifically designed to help smooth out some of the bumps. The Macro Asset Perspective ... Mark Sims is an agent licensed to sell insurance through New York Life Insurance Company and may be licensed with various other independent unaffiliated insurance companies in the states of WA and MI. However, attempting to predict which asset classes will outperform from year-to-year is futile. ), then it lacks diversification. [16], In 1894, the company became the first US-based insurance provider to offer life insurance to women at the same cost as men; social reformer Susan B. Anthony was one of the company's first female policyholders. But if that 60% stock allocation is invested solely in large cap U.S. tech stocks without broad exposure to other sectors (e.g., consumer cyclicals, energy, financials, small caps, etc.) Eagle Strategies LLC (Eagle) is an SEC-registered investment adviser. Asset allocation & diversification: The pillars of your financial plan, Search for a Financial Professional by State, Get Connected with a Financial Professional. Registration with the SEC does not imply a certain level of skill or training. [12] Nautilus renamed itself New York Life Insurance Company in 1845 to concentrate on its life insurance business. We believe in the importance of human guidance and in trusted relationships built on being there when our customers need us most. [5][46], In June 2018, New York Life ranks No. In December New York Life Insurance entered into a $6.3 billion deal to acquire Cigna’s group life and disability insurance business. Long-term care and life insurance combined into one product. For 175 years, people have worked with New York Life to protect their families and futures. The group manages money through independent investment boutiques. [16] In 1957, New York Life hired one of the industry's first black agents, Cirilo McSween. Eagle investment adviser representatives (IARs) act solely in their capacity as insurance agents of New York Life, its affiliates, or other unaffiliated insurance carriers when recommending insurance products and as registered representatives when recommending securities through NYLIFE Securities LLC (member FINRA/SIPC), an affiliated registered broker-dealer and licensed insurance agency. New York Life Insurance Company first opened in Manhattan's Financial District as Nautilus Mutual Life in 1841, 10 years after the first life insurance charter was granted in the United States. While asset allocation refers to the percentage of stocks, bonds, and cash in your portfolio,  diversification involves spreading your assets across asset classes within those three buckets. [49][50] As of 2019, New york Life ranks No. In 2019, Prudential Financial was the largest life insurance company in the U.S., with assets amounting to approximately 638 billion U.S. The products and services of New York Life Investments' boutiques are not available in all jurisdictions or regions where such provision would be contrary to local laws or regulations. American International Group, Inc., also known as AIG, is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. NYLIFE Securities You can cancel anytime. [23] As a mutual, New York Life distributes a portion of its earnings to eligible policyholders as annual dividends. York, NY every year since 1854 swiss Life Group View Total assets Insurance North America 24 surplus! Tandem, asset allocation and diversification describe different but related strategies president, De! 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