NEW YORK--(BUSINESS WIRE)--New York Life, America’s largest and most admired1 mutual life insurer, announced today that it has donated $150,000 to Project Hope and $150,000 to American-India Foundation (AIF) to support COVID-19 relief efforts in India.
“COVID-19 has negatively impacted all people globally and we are proud to support efforts aimed at stopping the further spread of this terrible virus,” said Ted Mathas, Chairman and CEO. “As a mutual life insurer, one of our core values is to act with humanity and we hope these contributions help ease the suffering of the people of India.”
Project HOPE is working with local partners and government officials in India to facilitate the rapid procurement and distribution of PPE, oxygen supplies, ICU equipment, ventilators, and other critical items to support the country’s overwhelmed health care system. Initial plans target five states in India, coordinating with government officials to get supplies to hospitals and clinics where they are needed most.
New York Life has made two prior COVID-19-related donations to Project HOPE – for PPE in the U.S. at the start of the pandemic, and more recently to support COVID-19 vaccination efforts in the Navajo Nation.
AIF has provided protective gear to more than 500,000 Indians, and prepared meals and ration kits to around 900,000 individuals, during the first phase of the pandemic in 2020. Through its mass awareness and prevention drive, AIF is now working to shore up supplies of medical oxygen amid rising demand for beds.
Since the pandemic began, New York Life and the New York Life Foundation have provided over $34 million to support COVID-19 programs and relief efforts. This includes more than $27 million to the Brave of Heart Fund and a $1 million donation to the Ad Council to support the COVID Collaborative, a bipartisan group of cross-sector partners on a massive communications campaign to educate the public about the COVID vaccine, with a particular focus on diverse populations.
In 2020, New York Life and the Foundation provided nearly $68 million in charitable contributions including nearly $35 million in response to the pandemic and other natural disasters to support communities across the country.
About New York Life
New York Life Insurance Company (www.newyorklife.com), 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 has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies**.
New York Life Group Benefit Solutions products and services are provided exclusively by or through Life Insurance Company of North America (“LINA”) or Cigna Life Insurance Company of New York (New York, NY) (“CLICNY”), or by or through affiliates or subsidiaries of Cigna Corporation and reinsured by LINA. LINA and CLICNY are responsible for their own financial condition and contractual obligations. LINA is not authorized in New York and does not conduct insurance business in New York.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/18/2020. For methodology, please see http://fortune.com/fortune500/.
**Individual independent rating agency commentary as of 10/15/2020: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).
1 As reported by “Fortune 2021 World’s Most Admired Companies ranking within Insurance (Life and Health),” Fortune magazine, 2/1/2021. For methodology, please see https://fortune.com/franchise-list-page/methodology-worlds-most-admired-companies-2021/.