New York Life Appoints Mario Vela as Head of Its Mexican Operation

NEW YORK--(BUSINESS WIRE)--New York Life International LLC, the international arm of New York Life Insurance Company, announced today that Mario Vela succeeded William Beaty as director general and head of its wholly-owned Mexican subsidiary, Seguros Monterrey New York Life (SMNYL), effective immediately. Mr. Vela, 40, was serving as director of SMNYL’s agency, its sales force of professional advisors. Mr. Beaty served as country head of SMNYL since joining International in 2000 and was promoted to vice chairman of New York Life International in September.

“Mario has added tremendous value to Seguros Monterrey New York Life during his eight years with the organization, overseeing the growth of a highly-trained professional field force, and the build-out and success of the market-leading operations center in Queretaro”

“Mario has added tremendous value to Seguros Monterrey New York Life during his eight years with the organization, overseeing the growth of a highly-trained professional field force, and the build-out and success of the market-leading operations center in Queretaro,” said Dick Mucci, chairman and chief executive officer of New York Life International, LLC. “Seguros Monterrey New York Life is ranked among the top life insurers in Mexico and is a major contributor to the profits of New York Life’s international operations. We are confident that Mario will continue this tradition of excellence while building upon our reputation for industry leadership, financial strength and professionalism in Mexico.”

Mr. Vela joined Seguros Monterrey New York Life in 1999 as Director of Operations and has held a number of positions within the company, most recently serving as head of SMNYL’s agency distribution channel.

About Seguros Monterrey New York Life

Seguros Monterrey New York Life, wholly-owned by New York Life Insurance Company, has more than 67 years of experience in Mexico and more than 840,000 policyholders throughout the country. Headquartered in Mexico City, Seguros Monterrey New York Life is one of the leading insurance companies in the market offering specialized life insurance and major medical expense services through 160 locations and more than 3,000 highly-trained professional agents. Please visit our website: www.monterrey-newyorklife.com.mx.

About New York Life

New York Life International, LLC, the international arm of New York Life Insurance Company, offers insurance products in Latin America and Asia through its subsidiaries and affiliates in Mexico, Argentina, South Korea, China, Hong Kong, India, Taiwan, and Thailand.

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. 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 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. Visit New York Life’s Web site at www.newyorklife.com for more information.