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Life Health > Life Insurance

Troy Glover to lead New York Life LTCI unit

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New York Life Insurance Company has picked Troy Glover to succeed Michael Gallo as the senior vice president in charge of the company’s long-term care insurance (LTCI) operations.

Glover will be based in the unit’s headquarts in Austin, Texas. He will report to Paul Pasteris, the chief administration officer for the New York Life insurance group, the company said.

Gallo, who took over as head of the unit in April 2009, will stay in Austin for a transition period. He later will return to the New York Life home office in New York, “where he will work on key initiatives for the insurance group,” the company said.

Glover has a bachelor’s degree from Brandeis University and a master’s degree in business from Cornell University.

He started out working at Merrill Lynch and Prudential, then began to work as a director in the New York Life variable products service center in 2000. He has been chief operating officer at the LTCI unit since 2009.

Chris Blunt, president of the New York Life insurance group, noted in a statement that Glover has substantial experience with LTCI.

“Addressing long-term care risk is vital to comprehensive retirement planning and we remain committed to serving the growing needs Americans have in this area,” Blunt said.

The man Glover is succeeding, Gallo, was a senior vice president for retirement income before he moved over to the LTCI unit.

In January, New York Life announced a realignment of its operations that shifted the LTCI unit into the insurance group. The LTCI unit had been tied in with the retirement income unit. The company said it was putting most of the retirement income operations and New York Life Investments in an investment group unit.

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