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Craig DeSanto Assumes New York Life Chief Executive Officer Position – InsuranceNewsNet

New York Life, America's largest 1 mutual life insurer, today announced that Craig DeSanto has assumed the company’ s chief executive officer position. New York Life and its affiliates provide insurance, investment, and retirement solutions that help people at all stages of life, delivered through the company’ s industry-leading agency field force. ....

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New York Life taps DeSanto for CEO-elect role

New York Life today announced that the company’s Board of Directors has named Craig DeSanto CEO-elect of New York Life. ....

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New York Life Completes Acquisition of Cigna's Group Life and Disability Insurance Business

New York Life Completes Acquisition of Cigna’s Group Life and Disability Insurance Business
Acquisition enhances New York Life’s portfolio of strategic businesses, contributes to financial strength, and increases value for clients, producers, and policy owners
Group Life and Disability Business Rebranded
New York Life Group Benefit Solutions
NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest mutual life insurer
1, today announced the completion of the company’s acquisition of Cigna’s group life, accident, and disability insurance business. The $6.3 billion acquisition, which was first announced on December 18, 2019, adds approximately 3,000 employees, over nine million customers
2, and enhances New York Life’s portfolio of strategic businesses, which support the core retail life insurance franchise and bolster the company’s financial strength. The new business will be rebranded New York Life Group Benefit Solutions. ....

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New York Life closes historic $6.3bn deal for Cigna unit

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New York Life Insurance capped off 2020 by completing the biggest deal in its 175-year history.
The company closed the $6.3 billion cash purchase of a Cigna unit that sells life, accident and disability insurance. The takeover will add roughly 3,000 employees and more than 9 million customers, with the unit operating as a standalone business to be renamed New York Life Group Benefit Solutions.
“This acquisition, the largest in our company’s history, reinforces our financial strength by generating capital,” New York Life chief executive Ted Mathas said in a statement.
Such deals are a rarity for New York Life, which operates as a mutual insurance company owned by its policyholders. ....

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