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 Hurricane Sandy relief total to $1.5 million.
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/ for methodology.
**Source: 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.