New York Life Names Rick Madan Senior Vice President Northeastern Agencies

NEW YORK--(BUSINESS WIRE)--Jan. 30, 2006--New York Life Insurance Company announced today that Rick Madan, CLU has been named senior vice president of the Northeastern Agencies. In this capacity, Mr. Madan oversees the recruiting, training and developing of managing partners and partners. He is responsible for the sales production and overall supervision of the offices within the Northeastern Zone.

Mr. Madan joined New York Life in 1982 as an agent in the Knickerbocker General Office, which was located in the Empire State building. In 1985, he entered management as a sales manager in the Knickerbocker General Office and was named the top sales manager at the company in 1988. In 1989, Mr. Madan was promoted to an associate General Manager, and ranked as the top associate General Manager for New York Life in 1989 and again in 1990. He was promoted to Agency Vice President for the Northeastern Zone in 1991 and in 1993 he returned to the field and became the General Manager of the Oak Brook General Office and was promoted to Managing Partner of the Illinois General Office in 1998.

Mr. Madan, a native of India, has a bachelor's degree from Baruch College, and is a Chartered Life Underwriter (CLU). He and his wife Neeta have two sons.

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United Sates and one of the largest life insurers in the world. Headquartered in New York City, New York Life's family of companies offers life insurance, annuities and long-term care insurance. New York Life Investment Management LLC provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

Please visit New York Life's Web site at www.newyorklife.com for more information.