A Norfolk native, Ted Mathas, is now the chairman of New York Life Insurance Co.

Ted Mathas

Mathas, 42, who graduated from Norfolk Collegiate, has been president of the mutual insurance company since July 2007 and CEO since July 2008.

Mathas earned his law degree at the University of Virginia and now lives in Armonk, N.Y., with his wife and three children.

He will oversee the largest mutual life insurance company in the U.S. with 17,000 employees worldwide and more than $248 billion in assets under management. Mathas succeeds Sy Sternberg, 65, who had remained chairman of the board of directors in a non-executive capacity since his retirement on June 30, 2008, after 19 years of service with the company, including 12 years as chairman.

Mathas is the 13th chairman of New York Life since the position was established in 1931. The company was founded in New York City in 1845 and today New York Life ranks as the 76th largest company in the United States.

He joined New York Life in June 1995 as an officer in the Asset Management Department.

This story originally appeared in the July 2009 print edition of Insurance & Financial Advisor.