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New York Life Appoints Joel Steinberg To Its Executive Committee

New York Life has announced the appointment of Joel Steinberg to its Executive Management Committee, effective immediately. Mr. Steinberg is senior vice president, chief risk officer and chief actuary. He reports to CFO-Elect John Fleurant.

The Executive Management Committee is comprised of New York Life’s senior executive leadership and assists the CEO in setting policy for the company.

Chairman and CEO Ted Mathas said, “We’re very proud of our company’s extraordinarily strong leadership team and we look forward to having Joel’s experience and knowledge as a regular part of our deliberations on the Executive Management Committee.”

Mr. Steinberg is responsible for the integrated risk management process for the company and he also oversees the actuarial staff, providing thought leadership to actuarial professionals throughout the company. Mr. Steinberg joined New York Life in 1983 as an actuarial student. He progressed through various positions of increasing responsibility and in 2001 was appointed senior vice president and chief actuary. In 2012, Mr. Steinberg assumed additional responsibility as chief risk officer in charge of the Office of Risk Management.

Mr. Steinberg received a Bachelor’s degree in Mathematics from the University of Pennsylvania. He also holds F.S.A. (Fellow of the Society of Actuaries) and M.A.A.A. (Member of the American Academy of Actuaries) designations.

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 website 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 2/1/13.

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