New York Life Names Matt Wion to Lead Retail Annuities
He will take charge of a business that generated $19 billion in annuity sales in 2023.
New York Life has picked Matt Wion to run its retail annuity business.
Wion has been the chief financial officer for a unit that handles many different types of products, including institutional life insurance and institutional annuities. He will succeed Todd Taylor, who previously held that post and is now head of New York Life’s life insurance solutions business.
Wion said he is honored to play a role in shaping the future for the company’s agents and advisors as well as the customers.
“Retirement income solutions are not just about financial security,” Wion said. “They empower individuals to achieve the retirement they’ve worked hard to create.”
What it means: A major annuity issuer is putting someone with a focus on maintaining sound annuity finances in charge of its retail annuity business.
New York Life: New York Life is a policyholder-owned mutual insurer with $409 billion in assets.
It generated $19 billion in U.S. individual annuity sales in 2023 and ranked fourth altogether, according to data from LIMRA.
New York Life’s annuity sales total is about the same as the gross domestic product of Jamaica.
Wion: Wion started out in financial services in the actuarial associate program at Prudential Financial.
He then worked in an actuarial services unit at Ernst & Young.
He joined New York Life as an actuary in the company’s annuity department in 2009.
He has a bachelor’s in mathematics from Pennsylvania State University. He is a fellow of the Society of Actuaries and a member of the American Academy of Actuaries.
Taylor: Taylor, Wion’s predecessor, holds patent for the Efficient Economic Frontier retirement product allocation framework.
Matt Wion. Credit: New York Life