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Essay / Research Paper Abstract
This 29 page paper looks at the New York Life Insurance Company, NYLIC, examining its background and development and undertaking an environmental analysis looking at internal and external influences in order to identify and recommend a potential future strategy. The strategy recommended is an increased international expansion. The bibliography cites 17 sources.
Page Count:
29 pages (~225 words per page)
File: TS14_TEnewyorklic.rtf
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Unformatted sample text from the term paper:
Analysis 9 7.2 External Environment 14 8. Long Term Objectives 22 9. Strategic Analysis and Choice 22 10. Plan Goals and Implementation 28 11. Financial Projections and Analysis 29 12. Critical Success Factors 30 13. Controls and Evaluation 31 References 32
1. Executive Summary New York Life Insurance Company are a large mutual insurance company with a large number of strengths
gained since there inception in 1845. There have been mistakes or errors of judgment, as seen with the sale of sale policies in the 1840s but there have also been
a large number of innovations, the firm was the first to use actuarial methods to insure impaired lives or increased risk occupations. Today the firm is in a strong position,
with a surplus to asset ratio in excess of 7% greater than the 5% average for the top 25 insurance firms. This has been gained as a result of
stable and conservative investment strategies. However, there are challenges as a result of the current economic situation, including the credit crunch and the rising oil prices which are both having
a depressing effect on the markets. Most of the developed world is suffering from these influences that are likely to constrain the market, one market that has avoided this, so
the strategy suggested in expansion into China, whewre there is a different economic pattern and a great deal of potential due to the current level of economic development and projected
development pattern. If implemented the plan should result in a profitable enterprise and a break even in year 4, after which it should be contributing at least $1.5 million profit
each year. 2. Introduction New York Life is a major US insurance company selling a range of different financial products including
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