The American Council of Life Insurers elected Theodore ”Ted” Mathas, chairman, president and CEO of New York Life Insurance, as its 2012 chairman at its annual conference this week in Orlando.
The ACLI also elected James T. Morris, Chairman, CEO of Pacific Life Insurance Co. to its chairman-elect position. Morris will assume the chairmanship in October 2012.
“We are fortunate to have Ted Mathas lead our board this year,” said ACLI President and CEO Dirk Kempthorne, the former Secretary of the Interior under George W. Bush, senator and Idaho governor. “His reputation as a strong industry leader and his insight into the key issues affecting the life insurance industry and its policyholders, make him the ideal choice to be ACLI’s Chairman.”
Mathas, 44, likes to invoke in speeches his Greek-born grandmother, who ran a candy store and came to live with his family the year he was born and lived to be 98, to demonstrate the need for retirement safety. Mathas has also noted, as he did in an old speech to the AARP, that “women face far greater financial risk during retirement than men.”
Mathas, joined New York Life in June 1995 as an officer in the asset management, three years out of law school at University of Virginia. He became president of Eagle Strategies Corp., a registered investment subsidiary, in September 1996 and began quickly moving up the ranks in the company, which is known for its long-serving employees and CEOs.
Mathas was President of NYLIFE Securities Inc., chief operating officer in the Agency Department, and then for Life and Annuity, before co-heading the company’s U.S. Insurance Operations. Effective July 2006, Mathas became chief operating officer and was elected a member of the company’s board of directors He was elected president of New York Life effective July 2007.