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Indo American News • Friday, May 6, 2011
www.indoamerican-news.com
Friday, May 6, 2011
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IndoAmerican News
STOCKS • FINANCE • SOUTH ASIAN MARKETS • TECHNOLOGY
New York Life Celebrates 166th Anniversary, Doubles Growth, Recruits in Spite of Slow Economy By Jacob David SUGAR LAND, TX: New York Life, a Fortune 100 company, conducted a preliminary recruiting session at Madras Pavilion restaurant in Sugar Land on April 29, Friday. Senior Partner Mehmood Daya, Srinivas Ranga, Assistant Vice President, Asian Indian Marketing Unit, New York; along with Babukundu, Senior Marketing Associate; partners Ramesh Cherivirala, Abbas Taylor, and agents Timir Patel, Amiralli Dodhiya, and Peter Paulose were present to give a briefpresentation about the benefits of working and joining the New York Life family. New York
Life is set to expand the Houston and Sugar Land operations in the next eight months. With the economic recession being acknowledged as such toward the tail end of 2007, New York Life earnings has since then been up 30% and their surplus earnings are now up by $2.8 billion. The recession was actually a big plus for us, it worked in their favor. Why? Because many banks went out of business. AIG, the giant conglomerate went under, smaller insurance companies went out of business, their clients sought New York Life for Investment Management and Security. In 2009, the entire insur-
ance industry was down 15%, New York Life alone was up 16%. For 2010, New York Life’s sales were up 39% while cumulative industry sales was up only 12%. Over 3,433 agents were hired in 2010 alone. The company also paid $13.4 Billion in Policy holder benefits and Dividends in 2010, a time when most company stocks are
INDO AMERICAN NEWS • FRIDAY, May 6 , 2011 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM
reporting losses. New York Life has also entered India as Max New York Life. Indian as well as world leading company managers vouch for the training given by New York Life to be one of the best, reaching international standards of excellence. New York Life owns a 10.4% share of the US Insurance market. It has met all the financial requirements to operate in all 50 states. Currently it boasts a surplus of $16.8 billion. It provides all types of financial services, not just life insurance. It provides plans for Annuities, Investment Management continued on page
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