New York Life introduced at this time that Alain Karaoglan has joined the corporate as Senior Vice President with oversight of a portfolio of strategic insurance coverage companies that features Group Membership Affiliation Division, Institutional Annuities, Institutional Life, New York Life Direct, and Seguros Monterrey New York Life.
This various set of companies considerably helps New York Life’s earnings and industry-leading monetary energy. Mr. Karaoglan will report back to Craig DeSanto, the corporate’s Co-Chief Working Officer.
Mr. Karaoglan joins New York Life after serving as Chief Working Officer for Voya Monetary from 2012 to 2018, the place he was a member of Voya’s Govt Committee and oversaw all of Voya’s companies, together with Annuities, Worker Advantages, Particular person Life, Funding Administration, and Retirement. Earlier than becoming a member of Voya, he was the pinnacle of Divestitures at American Worldwide Group, the place he helped restructure the corporate after the 2008 monetary disaster.
Beforehand, Mr. Karaoglan held senior roles within the funding banking and insurance coverage industries, together with at Banc of America, Deutsche Financial institution, Donaldson Lufkin & Jenrette, and Bear Stearns. He has a Grasp of Enterprise Administration from the Tuck Faculty of Enterprise at Dartmouth Faculty and a Bachelor of Arts in Economics and a Bachelor of Science in Enterprise Administration, magna cum laude, from Pepperdine College.
“Alain’s management and observe file of success ideally place him to supervise this portfolio of industry-leading strategic companies,” stated Mr. DeSanto. “His broad strategic, operational, and P&L expertise will improve our capacity to spend money on and develop these companies, which give high-quality insurance coverage options and generate enticing returns that profit New York Life and our prospects.”
About New York Life
New York Life Insurance coverage Firm (www.newyorklife.com), a Fortune 100 firm based in 1845, is the most important mutual life insurance coverage firm in the USA* and one of many largest life insurers on the planet. Headquartered in New York Metropolis, New York Life’s household of firms provides life insurance coverage, retirement revenue, investments and long-term care insurance coverage. New York Life has the very best monetary energy scores at the moment awarded to any U.S. life insurer from all 4 of the foremost credit standing businesses**.
*Primarily based on income as reported by “Fortune 500 ranked inside Industries, Insurance coverage: Life, Well being (Mutual),” Fortune journal, 6/1/19. For methodology, please see http://fortune.com/fortune500/.
**Particular person unbiased ranking company commentary as of 9/12/19: A.M. Finest (A++), Fitch (AAA), Moody’s Buyers Service (Aaa), Normal & Poor’s (AA+).