New York Life: Still Has Top Market Share
A press release from Business Wire released earlier today, says New York Life Insurance continues to lead the pack when it comes to market share. The company announced that it was the largest seller of new life insurance in 2011. They completed the year with a strong 10.7% market share through the fourth quarter. Their individual sales have continued to be encouraging as they increased about 12% over 2010.
Chris Blunt, head of New York Life's Insurance Group, says the results are terrific and they credit New York agents throughout the nation. They work hard in communities across the nation to sell quality New York Life insurance policies to their customers. They strive to meet the protection needs of all Americans and also focus on retirement financial obligations.
The head of New York Life's Agency Operations, Mark Pfaff, credits the solid numbers to consistent efforts of the field force meeting the ever-changing needs of Americans everywhere. New York Life has seen a strong growth in their cultural markets where marketing had been driven. Over 44% of the company's new life insurance cases came from Cultural Markets, making it a very important part of their business. As of today, New York Life has over 12,000 agents and 34% of them are focusing on this important group of cultural markets.