Craig DeSanto has taken over as the CEO of New York Life Insurance — a 177-year-old company that is one of the top issuers of individual life insurance and annuities.
DeSanto succeeds Ted Mathas, who will continue to serve as board chairman but give up oversight over company operations.
Mathas had been New York Life’s CEO since 2008.
DeSanto began working for the company in 1997, as a summer actuarial intern. He has managed the institutional life, individual life and retail annuity operations, as well as the company’s investment management unit. The company has about $432 billion in assets under management.