New York Life

New York Life is a mutual insurer owned by its policyholders, providing life insurance, retirement income products and investment management for individuals, families and institutions. Founded in 1845, it is led by chair, president and CEO Craig DeSanto. Its life insurance range includes term policies for temporary coverage and whole life policies that provide permanent coverage and build cash value. Its annuities can turn retirement savings into regular income.

In December 2020, New York Life acquired Cigna’s group life and disability insurance business for $6.3 billion. Renamed Group Benefit Solutions, the business provides employers with employee life and disability insurance, supplemental health coverage, and absence and leave administration.

In February 2026, New York Life unified its asset management businesses under the New York Life Investment Management brand. Its affiliated investment managers retain their autonomy and specialized teams, with strategies spanning public and private markets. The platform’s offerings include mutual funds and exchange-traded funds. It reported an estimated $838 billion in assets under management as of June 30, 2026, excluding assets managed by Andera Partners.

New York Life also uses Norm Ai’s regulatory agents to support compliance reviews of selected sales and marketing content. New York Life Ventures introduced Norm Ai to the insurer’s compliance department and invested in the company. Norm’s legal engineers worked with that department to tune the agents to assess content against external regulations and internal guidelines. The agents provide recommendations tied to the applicable rules; compliance professionals make the final decisions.