New York Life Insurance Company has unveiled plans to offer financial assistance to Haiti, joining other carriers that have agreed to help the devastated island nation.
New York Life says it will donate $100,000 to back earthquake relief efforts in Haiti. The company will also donate up to $150,000 in matching contributions by employees and agents.
Ted Mathas, New York Life's chairman, president and chief executive officer, said in a prepared statement the company will immediately donate $100,000 to the American Red Cross Disaster Relief Fund for Haiti. The company will match employee, retiree, and agent contributions up to $150,000, he added.
In addition to the Red Cross, the company says its employees and agents can designate a number of other organizations or combination of organizations to receive funds, and the company will match the contribution dollar-for-dollar.
New York's declaration follows announcements of insurers that are also contributing to the earthquake relief effort. Among them: UnitedHealth Group Inc., Minnetonka, Minn.; Thrivent Financial for Lutherans, Minneapolis; Northwestern Mutual Life Insurance Company, Milwaukee; The CIGNA Foundation, an affiliate of CIGNA Corp., Philadelphia; Principal Financial Group Inc., Des Moines, Iowa.
In addition, The American Council of Life Insurers, Washington, said it will be using the ACLI's International Pension Foundation, a charitable institution, to make a contribution to the American Red Cross on behalf of the ACLI membership as a whole.
