A letter from Craig DeSanto.

I am pleased to present our 2023 Diversity, Equity, and Inclusion (DEI) report, which highlights how we support a diverse, inclusive culture at New York Life — and the impact we are making on the communities we serve.

I am proud that we have one of the most diverse agent and advisor field forces in our industry, with incredible records of success and longstanding, deep relationships in their communities. In these pages, you will learn more about them, including Jaydev Patel, the most successful New York Life agent in our history.

You will also read about our Diversity, Equity, and Inclusion Center for Awareness & Advocacy (DEI Center), which plays a pivotal role in championing diversity within our organization. Through the robust programming offered by the DEI Center and our employee resource groups, we continue to maintain an environment where all employees are valued and empowered to contribute. This includes investing in employee and agent development as well as attracting top talent across a wide range of fields.

Core to our mission at New York Life is our dedication to bridging generational and racial wealth gaps.

In 2021, the company launched an initial $1 billion impact investment initiative to invest in underserved and undercapitalized communities while generating market-rate returns for our policy owners. As of year-end 2023, we have committed $1.3 billion. In addition, the New York Life Foundation has partnered with Enterprise Community Partners to support the innovative Renter Wealth Creation Fund, which provides renters with wealth-building opportunities traditionally available only to homeowners. This is one example of the work the foundation is doing to help address the wealth gap.

You will learn more about these and other initiatives in this report, including metrics, outcomes, and areas we are further developing.

As I reflect on our achievements thus far, I do so with a deep sense of pride and purpose. However, I also recognize that our work is far from finished. We remain committed to continuously improving and evolving our DEI practices.

Thank you for your interest in how New York Life is making an impact.