New York Life Commits $250,000 to Aid States Impacted by Powerful Tornadoes and Storms

Rhea-AI Summary

New York Life has pledged $150,000 in corporate grants for disaster relief following tornadoes in several Midwest and Southern states. The funds will support organizations in Arkansas, Illinois, Kentucky, Mississippi, Missouri, and Tennessee, along with $100,000 for its own Emergency Assistance Fund. Additionally, employee donations to designated funds will be matched up to $100,000. This is part of New York Life’s commitment, having donated nearly $4 million in 2021 for disaster relief initiatives.

Positive

• Pledged $150,000 for disaster relief efforts.
• Matching employee donations up to $100,000, fostering community engagement.
• Total contributions nearing $4 million in 2021 for various disaster relief initiatives.

Negative

• None.

Company Will Match Employee and Agent Contributions

NEW YORK--(BUSINESS WIRE)-- In response to tornadoes and storms that struck several Midwest and Southern states, New York Life announced today a pledge of $150,000 in corporate grants to disaster response organizations supporting Arkansas, Illinois, Kentucky, Mississippi, Missouri, and Tennessee and $100,000 to New York Life’s Emergency Assistance Fund.

The company will be allocating $100,000 to the Team Western Kentucky Tornado Relief Fund, established by Governor Andy Beshear to assist Kentucky’s tornado victims and begin rebuilding and $50,000 to Feeding America’s Midwest Tornado Disaster Relief Fund, which distributes support to local food banks in the impacted communities. The remaining $100,000 will support the New York Life Emergency Assistance Fund, which provides financial assistance to employees and agents impacted by catastrophic events.

New York Life will match disaster donations up to $100,000 made by the company’s workforce to the Team Western Kentucky Tornado Relief Fund, Feeding America, and New York Life’s Emergency Assistance Fund.

“Our thoughts and prayers are with the families and communities affected by the devastating tornadoes this past weekend as they begin to rebuild and recover from this tragedy,” said Ted Mathas, chairman and CEO, New York Life.

In 2021, New York Life and its Foundation have provided nearly $4 million in charitable contributions to pandemic relief efforts and other natural disasters to support communities across the country.

About New York Life

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest¹ mutual life insurance company in the United States and one of the largest life insurers in the world. 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 has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.²

1Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/1/2021. For methodology, please see http://fortune.com/fortune500/.

2Individual independent rating agency commentary as of 9/30/2021: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20211220005225/en/

Lacey Siegel

New York Life

(212) 576-7937

Lacey_S_Siegel@newyorklife.com

Source: New York Life

FAQ

What is New York Life's recent disaster relief pledge for 2023?

New York Life pledged $150,000 in corporate grants for disaster relief in response to tornadoes affecting the Midwest and Southern states.

How much will New York Life match in employee donations for disaster relief?

New York Life will match employee donations up to $100,000 for qualified disaster relief funds.

What is the total amount New York Life has contributed to disaster relief in 2021?

In 2021, New York Life provided nearly $4 million in charitable contributions towards disaster relief efforts.

Which states are receiving New York Life's disaster relief funds?

The disaster relief funds will support disaster response organizations in Arkansas, Illinois, Kentucky, Mississippi, Missouri, and Tennessee.