US focus: Q&A with Gideon Pell, New York Life
Mutual insurer New York Life maintained its AAA credit rating throughout the 2008 financial meltdown despite $1.8 billion in capital losses. Chief risk officer Gideon Pell tells Michael Faulkner about how the company is responding to the current economic stresses and the US regulators’ increasing focus on risk
Founded in 1845 and headquartered in New York City, New York Life Insurance Company is one of the largest mutual life insurance companies in America. It has a presence in all 50 states, as well as Mexico and Taiwan, operating through a network of more than 17,000 agents. The company has two main business units. Its core insurance business provides a broad range of life insurance products, and its investment management business manages the company’s general account as well as providing savings
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