NEW YORK--(BUSINESS WIRE)--New York Life, America’s largest mutual life insurer1, highlights the progress and impacts of the company’s diversity, equity, and inclusion (DE&I) efforts over the last year with the release of its 2022 DE&I Report.
“From expanding our DE&I Center for Awareness and Advocacy programming to achieving our $1 billion commitment in impact investments to help address the racial wealth gap in America, we made significant progress against our DE&I goals in 2022,” said Craig DeSanto, CEO & President, New York Life. “We are committed to embedding diversity, equity, and inclusion in everything we do, and look forward to furthering our impact in the years ahead.”
Lasting positive impacts
New York Life’s 2022 DE&I Report underscores that the company’s programming is designed to have lasting positive impacts through well-defined focus areas involving our employees, agents, and the communities we serve:
- Through the DE&I Center for Awareness and Advocacy, we have expanded our support of under-represented employees in enhancing their professional strengths and helping them thrive in their careers at New York Life.
- While already maintaining the most diverse agency salesforce in the industry, the company is laying the groundwork for continued growth in the areas of diversity, equity, and inclusion across its field force by fostering awareness of important DE&I topics and pathways to management positions.
- When it comes to the community at large, the New York Life Foundation added social justice as its third strategic pillar in 2022, further enabling it to put the power of our people and resources behind organizations that address economic and societal inequalities across the country.
- We announced our $1 billion impact investment initiative in April 2021 to help address the racial wealth gap in America and expand economic opportunity more broadly, with a goal to invest these funds over three years. Just 18 months later, that milestone was met, with the company already committing the entire sum to underserved and undercapitalized communities across the country.
An unending DE&I journey
“While we accomplished a great deal in 2022 and are proud to be an industry leader in our DE&I efforts, we also recognize that our DE&I journey has no end,” said Kathleen Navarro, Senior Vice President Human Resources, Head of Business Enablement and Diversity, Equity, and Inclusion, New York Life. “We will continue to address the vital issues and further our commitment to becoming an even more diverse and inclusive company that creates equal opportunities for people from all walks of life.”
To view the DE&I report and learn more about our DE&I efforts, click here.
ABOUT NEW YORK LIFE
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest1 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.2
1Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/23/2022. For methodology, please see http://fortune.com/fortune500/.
2Individual independent rating agency commentary as of 10/18/2022: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).