New York Life Has Record Year for New Hires in 2009
Area Offices Seek To Continue Recruiting Trend and Hire 21 in 2010
NEW YORK, N.Y., April 26, 2010 - New York Life Insurance Company significantly increased its field force and recruited a record number of financial representatives in 2009, with 3,618 appointments in the United States. New York Life's Alaska General Office is interested in continuing this trend by increasing its workforce with 21 appointments in 2010.
"Job seekers continue to recognize that working at New York Life, recently named "World's Most Admired Company" by Fortune magazine, in the Life and Health Insurance category, is a wise career choice," said Michael Bookout, LUTCF, managing partner of the Alaska General Office. "Working as a financial professional for New York Life offers men and women the opportunity to provide vital insurance protection and financial guidance to the people in their communities, while also enjoying flexibility, independence and unlimited income potential."
Since 2005 New York Life has increased its agent force by 15%, at a time when the number of agents industry-wide is declining. Women represented 28% of all agents hired, while more than 52% of agents recruited in 2009 were either women or minorities or both. In addition, 38% of new agents represent New York Life's Cultural Markets, which include agents working in the African American, Asian Indian, Chinese, Hispanic, Korean, and Vietnamese markets. New York Life also experienced records in life insurance sales in 2009. Sales by New York Life's 11,800 licensed agents increased 16%, a new record in 2009, and a stark contrast to the decline industry-wide*.
New York Life has been serving Alaska since 1959, the year of statehood, with our first New York Life policyholders written in 1889. The Alaska office serves as a base for approximately 68 New York Life agents and support personnel serving the state of Alaska.
New York Life scored highest in the Life and Health industry category in Fortune magazine's annual survey of the "World's Most Admired Companies." For the fourth year in a row, BusinessWeek named New York Life one of "The Best Places to Launch a Career."
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 possible financial strength ratings from 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 or www.alaska.nyloffices.com for more information.
*Source: "LIMRA: Life Insurance Sales Drop 15% in 2009, "InsuranceNewsNetcom, March 22, 2010.
**New York Life is the largest mutual life insurance company based on the Fortune 500, ranked within industries, Insurance: Life, Health (Mutual), Fortune magazine, May 4, 2009. ***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.