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69 - New York Life Insurance

These are the buildings over the south side of Madison Square Park, Manhattan, New York - Getty Images/iStockphoto
These are the buildings over the south side of Madison Square Park, Manhattan, New York Getty Images/iStockphoto

Despite lower interest rates and fewer life insurance policy sales on an industry-wide basis in 2017, the country’s third largest life insurer, New York Life Insurance Company, managed to post a 4% gain in revenue and an increase in profit. In turn, New York Life has pointed to its team of 12,000 policy-selling agents as its secret sauce. It wasn’t a perfect year, however. New York Life sought to pay nearly $3.4 million to settle a class action lawsuit with 25,830 members who alleged that the company made telemarketing calls using an automated dialing system.

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Key Metrics & Financials (Last Fiscal Year)

Previous Rank65
Revenues ($M)$42296
Revenue Percent Change3.7%
Profits ($M)$1866.9
Profits Percent Change71.6%
Assets ($M)$303183
Market Value — as of March 29, 2018 ($M)-
Employees11114

Company Facts

Employees11114
SectorFinancials
IndustryInsurance: Life, Health (Mutual)
HQ LocationNew York City
CEOTheodore A. Mathas
CEO Title-
Websitewww.newyorklife.com
Years on Fortune 500 List24

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