HISTORY OF NEW YORK LIFE
It all began on April 12, 1845 when the foundation was laid for a new enterprise that would come to be known as the New York Life Insurance Company
History of New York Life
It all began on April 12, 1845 when the foundation was laid for a new enterprise that would come to be known as the New York Life Insurance Company. Elected Secretary Lewis Benton purchased the first policy for $5,000. So began a legacy of security and a commitment to keeping promises reflected still today in our core values.
As President and Chairman (1907–1932) Darwin P. Kingsley said, “When will New York Life be finished? Never! Its foundations are as deep as human love; its spires disappear in unfulfilled dreams of human aspiration; its great arches support an expanding nave which can cover and protect all who come.”
That passion and commitment to protection have continued unabated for nearly two centuries. We’ve seen the nation evolve and events occur that affect the lives of Americans: from the Civil War, to the 1906 San Francisco earthquake, to the 1929 stock market crash, to Hurricane Katrina in 2005, 9/11, and of course, the recent recession.
What does this all mean? Two things come to mind: New York Life is resilient and able to thrive in all economic conditions. This means we’ll always be there for our policy owners and for future generations; and there has never been a better time to be with New York Life.
