{"id":19039,"date":"2020-07-20T13:33:24","date_gmt":"2020-07-20T17:33:24","guid":{"rendered":"https:\/\/insurancenewsnet.com\/?post_type=innarticle&p=5660219"},"modified":"2020-07-20T13:33:24","modified_gmt":"2020-07-20T17:33:24","slug":"craig-desanto-named-president-of-new-york-life","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/07\/20\/craig-desanto-named-president-of-new-york-life\/","title":{"rendered":"Craig DeSanto Named President Of New York Life"},"content":{"rendered":"


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New York, July 20, 2020 <\/b>– New York Life announced today that Co-Chief Operating Officer Craig DeSanto<\/a>, 43, has been elected president of America\u2019s largest mutual life insurance company by New York Life\u2019s Board of Directors, effective immediately. The role of president has been held by Chairman and CEO Ted Mathas<\/a>, who assumed the role when former President John Y. Kim retired in 2018. Mr. DeSanto continues to report to Mr. Mathas.<\/p>\n

With his promotion to president, Mr. DeSanto will oversee all businesses of the company, including the Individual Life Insurance and Agency Distribution units, as well as Retail Annuities, New York Life Investment Management, and the company\u2019s portfolio of industry-leading strategic businesses.<\/p>\n

\u201cThroughout his more than two decades with the company, Craig has delivered steady and proven leadership, exceptional execution of our strategic plans, consistently strong business results, and an unwavering commitment to our people and the communities we serve,\u201d said Mr. Mathas. \u201cCraig\u2019s keen intellect, deep understanding of our industry, and steadfast appreciation for our mission, purpose, values, and mutual business model gives me great confidence in his ability to continue to lead our organization moving forward.\u201d<\/p>\n

Mr. DeSanto joined New York Life in 1997 as an actuarial intern and was quickly promoted into roles of increasing responsibility across New York Life\u2019s finance and business operations, including as head of the Institutional Life Insurance business, Individual Life Insurance business, and Eagle Strategies. In 2015, he was appointed to lead the company\u2019s Strategic Businesses, where he systematically built a portfolio of businesses that today directly support the core retail life insurance franchise, diversify the company\u2019s sales and earnings, and enhance its financial strength. In 2017, Mr. DeSanto joined the company\u2019s Executive Management Committee, and in the two subsequent years, he assumed oversight for Retail Annuities and New York Life Investment Management, respectively.<\/p>\n

Mr. Mathas noted that Mr. DeSanto has helped lead New York Life\u2019s pending acquisition of Cigna\u2019s Group Life and Disability Insurance business \u2013 the company\u2019s largest acquisition to date \u2013 which is a highly profitable industry leader and a strong complement to New York Life\u2019s core individual life insurance franchise. The transaction is expected to close in the third quarter.<\/p>\n

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Mr. Mathas added: \u201cIn this, New York Life\u2019s 175th year, it has never been more important to build on our rich legacy of delivering value to our policy owners and clients and ensure our growth and success in service of generations to come.  Craig has served the company with great distinction by embracing our long-term orientation and ensuring our interests align with those of our clients. I look forward to partnering closely with Craig in leading our businesses and people in the years ahead.\u201d<\/p>\n

\u201cI am honored by the confidence that the Board and Ted have placed in me,\u201d said Mr. DeSanto. \u201cIn my more than 20 years with the company, our values of humanity and integrity, our unwavering commitment to mutuality, and our exceptional and dedicated team of agents and employees, have been critical to our success.  I look forward to building on these strengths, as we continue to provide peace of mind and financial security to millions of individuals and businesses in the years and decades ahead.\u201d<\/p>\n<\/div>\n

Read the original article at insurancenewsnet.com <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New York, July 20, 2020 – New York Life announced today that Co-Chief Operating Officer Craig DeSanto, 43, has been elected president of America\u2019s largest mutual life insurance company by New York Life\u2019s Board of Directors,...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19039"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19039"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19039\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}