(Bloomberg) — New York Life Insurance Co., the largest policyholder-owned life insurer in the U.S., named Chris Blunt as head of the investment unit with $540 billion in assets under management.
Blunt, 53, is switching from his role as co-president of the insurance and agency group, the New York-based insurer said Wednesday in a statement.
Chief Executive Officer Ted Mathas, 48, is shaking up management by giving new responsibilities to Blunt and Chief Investment Officer John Kim, 54. Kim was promoted to president of New York Lifeand will oversee both Blunt and Mark Pfaff, who was co-president of the unit with Blunt. Pfaff plans to retire at the end of this year, the company said.
“Blunt has held key leadership roles in the company, from investments to life insurance to annuities, as well as long-term care insurance, and at every step he has added significant value,” Mathas said in the statement.