New York Life’s Chairman and CEO calls Seguros Monterrey New York Life“An Important Part of Our Corporate Strategy”

NEW YORK--(BUSINESS WIRE)-- New York Life, America’s largest mutual life insurer, today announced that its wholly-owned Mexican subsidiary, Seguros Monterrey New York Life (SMNYL), the second-largest life insurer in Mexico, celebrated the official opening of the New York Life Tower, a 32-story tower on the prestigious Paseo de la Reforma Avenue in Mexico City’s central zone.

Attending the opening ceremony in Mexico City were Mexico’s Minister of Finance and Public Credit, José Antonio Meade, New York Life’s Chairman and CEO Ted Mathas, President and CEO of Seguros Monterrey New York Life Mario Vela, Executive Vice President and Head of New York Life’s Insurance Group Chris Blunt, as well as other top New York Life and SMNYL executives.

“Seguros Monterrey New York Lifeis an outstanding operation and an important part of our corporate strategy,” said Mr. Mathas during the opening ceremony. “New York Life is enormously proud of what Seguros Monterrey has accomplished in more than 70 years of serving the people of Mexico. The state-of-the-art New York Life Tower stands proudly as a symbol of our commitment to Mexico and the strong partnership between our two countries. In fact, New York Life has worked closely with the Hispanic community in the U.S. for almost 40 years and today, more than 1,500 New York Life agents, the majority of whom are of Mexican American descent, currently serve this critical market, one of the most rapidly growing segments of the U.S. population.”

The New York Life Tower, sheathed in reflective glass, is a 500-feet-tall, 32-story building and one of the tallest buildings in Mexico. Approximately 2,500 employees and agents, or about 36 percent of Seguros Monterrey New York Life’s workforce, will work across 15 stories of the new tower.

The tower’s design was inspired by the El Ángel de la Independencia (“The Angel of Independence”) monument, built to commemorate the centennial of the beginning of Mexico’s War of Independence, celebrated in 1810. El Ángel, which is directly in front of the tower, is one of the most recognizable landmarks in Mexico City.

The tower, which utilizes the abundant natural light of the setting to create a bright and open working environment, has achieved LEED (Leadership in Energy and Environmental Design) certification. The LEED rating system is recognized nationally and internationally as the green building design standard. The building was designed by Jean Michel Colonnier.

About Seguros Monterrey New York Life

Seguros Monterrey New York Life, wholly-owned by New York Life Insurance Company, has more than 70 years of experience in Mexico* and more than 2 million policyholders throughout the country. Headquartered in Mexico City, Seguros Monterrey New York Life is one of the leading insurance companies in the market offering specialized life insurance and major medical expense services through 183 locations and more than 5,000 highly-trained professional agents. Please visit our website: www.monterrey-newyorklife.com.mx.

About New York Life

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 financial strength ratings currently awarded to any life insurer by all four of the major credit rating agencies.*** 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 institutional and retail mutual funds. Please visit New York Life’s Web site at www.newyorklife.com for more information.

*New York Life has owned Seguros Monterrey since 2000.

**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 6/22/12.

****New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

New York Life
John Brine
John_S_Brine@newyorklife.com
or
New York Life
William Werfelman, 212-576-5385
William_Werfelman@newyorklife.com

Source: New York Life