-

Craig Sabal to Succeed Tony Malloy as Chief Investment Officer of New York Life

NEW YORK--(BUSINESS WIRE)--New York Life announced today that Craig Sabal has been named chief investment officer (CIO) of the company, effective Jan. 1, 2026. Sabal, who joined New York Life in 2020 as deputy CIO, will be responsible for the investment strategy, asset allocation, and management of New York Life’s general account.

Sabal will succeed Tony Malloy, who will be retiring in 2026 after a distinguished 40-year career in the investment industry, including 27 years at New York Life. Malloy was appointed CIO in 2017.

“Tony’s leadership has been instrumental to New York Life’s enduring financial strength. Through his steady guidance and unwavering commitment to our policy owners, he has stewarded our general account through every market environment,” said New York Life Chair, President and CEO Craig DeSanto. “Craig Sabal brings an exceptional blend of risk discipline, forward-thinking innovation, and deep investment expertise. He is the right leader to guide our general account investment strategy into the future — ensuring that we remain well positioned to deliver unparalleled value and fulfill every promise we make to our clients.”

Sabal has more than 25 years of experience managing insurance portfolios, including the past five years serving as deputy CIO and working closely with Malloy. Prior to joining New York Life, he held senior investment roles at Lehman Brothers, Goldman Sachs and AIG.

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. With headquarters in New York City, New York Life’s family of companies offers life insurance, and other solutions. 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

1 Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/2/2025. For methodology, see https://fortune.com/company/new-york-life-insurance/

2 Individual independent rating agency commentary as of 5/16/2025: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aa1), Standard & Poor’s (AA+)

Contacts

Sara Guenoun
New York Life
(718) 687-6259
Sara_J_Guenoun@newyorklife.com

Industry:

New York Life Insurance Company

Release Versions
English

Contacts

Sara Guenoun
New York Life
(718) 687-6259
Sara_J_Guenoun@newyorklife.com

More News From New York Life Insurance Company

New York Life Launches an Indemnity Benefit for its Asset Flex Long-Term Care Insurance Solution

NEW YORK--(BUSINESS WIRE)--New York Life announced the launch of an indemnity benefit payment option for Asset Flex, its hybrid long-term care (LTC) insurance solution combining long-term care and universal life insurance. The Asset Flex Indemnity feature offers greater flexibility in how benefits are delivered, expanding how clients address LTC needs within a broader financial strategy. “We know that 70% of Americans turning 65 will need some form of LTC1, but LIMRA research finds only 3% over...

Americans Seek Financial Stability, Prioritize Retirement Confidence

NEW YORK--(BUSINESS WIRE)--Amid economic uncertainty, Americans are adjusting budgets, revisiting strategies and planning for the future. Yet their confidence in long-term financial security is falling, according to the latest New York Life Wealth Watch Midyear Outlook survey. The survey found that 61% of Americans have a financial strategy in place, up from 58% a year ago, and 79% have taken steps to address their financial concerns. Yet just 52% are confident their retirement savings will las...

New York Life Launches “The Assist,” a docuseries featuring U.S. Men’s National Soccer Team stars and the people who helped make their dreams real

NEW YORK--(BUSINESS WIRE)--New York Life announces launch of “The Assist,” a short-form docuseries that looks beyond performance on the field to people who made it possible....
Back to Newsroom