|[December 21, 2012]
New York Life Employees and Agents Raise $5 Million in Eight Weeks for Deserving Nonprofits, with Support from the Company
NEW YORK --(Business Wire)--
New York Life announced today that employees and agents joined the
company to raise more than $5 million for those in need over a period of
about eight weeks, from October 15 to December 15 of this year.
New York Life's Chairman and CEO Ted Mathas said, "The New York Life
family came together through the company's 'Give for Good' giving
campaign and disaster relief effort to give more than $5 million over
the last eight weeks alone, reinforcing the fact that our core value of
humanity is more than just a word written on paper."
Annual Giving Campaign
More than 4,000 employees and agents raised $3.3 million through the
company's "Give for Good" giving campaign, which took place from October
15 through November 21. The annual campaign afforded employees and
agents across the country the opportunity to donate to charities of
their choice and raise funds through an online auction and various
activities, including bake sales, basketball tournaments and trivia
contests. The total amount raised exceeded what was raised in the 2011
campaign by 22 percent.
Hurricane Sandy Relief
In addition, employees, agents and retirees contributed almost a quarter
of a million dollars for disaster relief to Hurricane Sandy victims to
the American Red Cross, Feeding America (a network of food pantry
organizations), and other nonprofit agencies focused on recovery efforts
in New York, New Jersey and Connecticut. The company committed $1
million to these nonprofits and matched the approximately $250,000
raised by employees, bringing the urricane Sandy relief total to $1.5
NYLIC Family Assistance Fund
In light of the fact that the storm had significant impact on more than
100 of New York Life's own employees, the company established the NYLIC
Family Disaster Assistance Fund with a donation of $200,000. This was
supplemented by donations from employees and agents and a contribution
of $12,000 from the employees of Seguros Monterrey, New York Life's
affiliate in Mexico. In total, nearly $280,000 has been collected to
date. Also, employees and agents volunteered through the company and on
their own to help people recovering from Hurricane Sandy by donating
supplies, clothing and participating in blood drives.
These efforts continue through the holiday season. During New York
Life's annual "Season of Giving" campaign, teams of employees from
across the country help needy families by running coat, toy and gift
card drives. In the tri-state area, New York Life's adopt-a-family
program is assisting 16 families from Staten Island and the Rockaways,
many of which lost their homes during Hurricane Sandy.
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. New York Life has the
highest possible financial strength ratings currently awarded to any
life insurer from all four of the major credit rating agencies: A.M.
Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard &
Poor's (AA+).** Headquartered in New York City, New York
Life's family of companies offers life insurance, retirement income,
investments and long-term care insurance. New York Life Investments***
provides institutional asset management and retirement plan services.
Other New York Life affiliates provide an array of securities products
and services, as well as retail mutual funds. Please visit New York
Life's Web site at www.newyorklife.com
for more information.
*Based on revenue as reported by "Fortune 500 ranked within
Industries, Insurance: Life, Health (Mutual)," Fortune magazine,
May 21, 2012. See http://www.money.cnn.com/magazines/fortune/fortune500/2012/faq/
**Source (News - Alert): Third Party Ratings Reports as of 6/22/12.
***New York Life Investments is a service mark used by New York Life
Investment Management Holdings LLC and its subsidiary, New York Life
Investment Management LLC.
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