George Nichols, Former NAIC President, To Join New York Life.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 20, 2000 Kentucky Insurance Commissioner Becomes Assistant to Chairman Sy Sternberg New York Life Insurance Company The New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world.[3] announced today that George Nichols, III, the Kentucky insurance commissioner and immediate past president of the National Association of Insurance Commissioners The National Association of Insurance Commissioners (NAIC) is an Internal Revenue Code Section 501(c)(3) non-profit organization which seeks to organize the regulatory and supervisory efforts of the various state insurance commissioners from around the United States. , will join the company as senior vice president and assistant to the chairman, effective January 8, 2001. An insurance industry leader of international reputation, Mr. Nichols served most recently as president of the National Association of Insurance Commissioners (NAIC NAIC See National Association of Investors Corporation (NAIC). ) and insurance commissioner of the state of Kentucky. Mr. Nichols, 40, is also an advisor to the China Insurance Regulatory Commission and the Egyptian Insurance Supervisory Authority, assisting both nations in opening their insurance markets. In his new position, Mr. Nichols will report directly to Sy Sternberg, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Life. Mr. Nichols will assist Mr. Sternberg in a number of special initiatives. Commenting on the appointment, Mr. Sternberg said, "George Nichols brings an impressive record of professional accomplishments and insurance industry leadership to New York Life. Throughout his career as insurance commissioner, industry association president, and advisor to governors and nations, George Nichols has demonstrated the same qualities of strength, integrity and humanity that are the hallmarks of New York Life. We're very pleased that he's joined our management team." Mr. Nichols has served as Kentucky's commissioner of insurance from 1996 through 2000. During his tenure, Mr. Nichols' initiatives included the establishment of the department's first consumer protection and fraud investigation divisions; reducing Kentucky's life insurance state premium taxes and abolishing the state's annuities tax; and establishing Kentucky as the first state to pass the uniform producer model act. As president of the NAIC, Mr. Nichols led the association's initiative to improve state regulations in light of the federal Gramm-Leach-Bliley Financial Services Modernization Act. At the NAIC he chaired the International Insurance Relations Committee and the Executive Committee, and was vice-chairman of the Market Conduct and Consumer Affairs Committee. Prior to his appointment as Kentucky insurance commissioner, he served as executive director of the Kentucky Health Policy Board, which oversees the state's comprehensive health care reform law. Mr. Nichols has also served in several other executive and marketing management positions, including vice president of marketing for Athena of North America, Inc., a national electronic data interchange See EDI. (application, communications) electronic data interchange - (EDI) The exchange of standardised document forms between computer systems for business use. EDI is part of electronic commerce. clearinghouse; executive director of product development at Blue Cross/Blue Shield of Kentucky; and chief executive officer of Central State Hospital, an adult acute psychiatric hospital psychiatric hospital n. A hospital for the care and treatment of patients affected with acute or chronic mental illness. Also called mental hospital. . Mr. Nichols holds a master's degree in labor studies from the University of Louisville See also
1. ^ [1] 2. ^ [2] URL accessed on June 8 2006 3. and a bachelor's degree in sociology and economics from Western Kentucky University Student Body Profile WKU had a total enrollment in the Fall Semester of 2002 (the latest published figures) of 17,818 students. Out of this total, 73% were full-time and 85% were undergraduates. Ethnic and racial minority enrollment was just under 13% at 2,097. . As a collegian, Mr. Nichols was named by the Sporting News as one of the nation's top 200 junior college basketball players when he played for Alice Lloyd College Alice Lloyd College is a four-year liberal arts work college in Pippa Passes, Kentucky. It was founded by the Cambridge, Massachusetts-born journalist Alice Spencer Geddes Lloyd in 1923, initially under the name Caney Junior College . A native of Kentucky, Mr. Nichols resides with his wife, Cynthia Jean, and three children in Shelbyville, Kentucky. Mr. Nichols and his family plan to relocate to the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. area. New York Life Insurance Company, a Fortune 100 company, is one of the largest insurance companies in the United States and the world. Founded in 1845 and headquartered in New York City, New York Life and its affiliates offer traditional life insurance, annuities and long-term care insurance. On the investment side, New York Life's affiliates provide institutional asset management and trust services and, through a subsidiary, NYLIFE Distributors Inc., provide an array of securities products and services such as institutional and retail mutual funds, including 401(k) products. Visit New York Life's Web site at www.newyorklife.com for more information. |
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