By specific definition, “networking is the cultivation of productive relationships for employment or business”, a few years ago such thing was another word that people just wondered about. Today networking is the first possibility people look for, when gathering with others. There is always an angle, an opportunity of landing that contract, or the chance to meet the right person to get your company to the next level. The Hispanic Chamber of Commerce of Metro Orlando has for many years given that opportunity to many businesses, small and large, to connect and grow.
Today HCCMO and New York Life hosted a cocktail to the Hispanic Community and gather the most important people in the business community of Orlando, wher e they presented New York Life with a plaque received by Hector Perez for the great work New York Life has done in Central Florida.
The Hispanic Chamber of Commerce of Metro Orlando is the largest business-related organization representing the Hispanic community in Central Florida and has for over 18 years been an essential voice for the Hispanic business community.
The New York Life Insurance Company (NYLIC) is one of the largest mutual life-insurance companies in the United States, and one of the largest life insurers in the world, with about $287 billion in total assets under management, and more than $15 billion in surplus and AVR. The company ranks #71 on the 2011 Fortune 100 list, making it the highest privately held insurance company on that list. In 2007, NYLIC achieved the best possible ratings by the four independent rating companies (Standard & Poor’s, AM Best, Moody’s and Fitch). In June 2009, the same four rating companies reaffirmed New York Life’s “superior” financial strength, which became a selling point in national TV ad campaigns that same year. The company is now one of only three life insurers to hold the highest ratings currently awarded to any life insurer by all four rating agencies (Moody’s: Aaa, A.M. Best: A++. Standards & Poor’s: AA+, Fitch: AAA. All of these are for financial strength. Source: Individual Third Party Ratings Reports (as of 8/8/11).).
According to their Report to Policyholders 2007, in early 2007 the company’s managers became concerned about the state of credit markets, so in February 2007 “based on our belief that the markets were acting irrationally” New York Life decided to move much of its cash flow into safer investments such as US Treasury bonds. “By August 2007, the credit market problems we had feared were front page news,” the Report notes.
In November 2008, the company announced it will not participate in the Troubled Asset Relief Program. “The company can meet all of its strategic objectives without government capital, its businesses are strong and profitable, and it is committed to remaining a mutual company operating for the sole benefit of its policyholders,” states a company press release.
Theodore “Ted” Mathas, president and CEO in 2008, said at the time of the financial crisis that New York Life is “built for times like these.” This phrase became the title for the 2008 report to policyholders. Ted Mathas becomes the company chairman on June 1, 2009.
Today New York life is moving with aggressiveness into the Hispanic market, due to the specific fact that over 75% of Hispanic households never visit a financial adviser. So as you see the Market is wide open for the ones that are willing to work on it, and this initiative will generate lots of jobs.
The event was at the Citrus Club at Downtown Orlando and everybody had the opportunity to make plenty of connections. Check the pictures !