Career

Retired president of the New York Life Insurance Company, Fred Sievert, FSA, MAAA, started his career as an actuarial student at John Hancock. Prior to joining New York Life in 1991, he spent eleven years in various actuarial and executive roles at the Maccabees Mutual Life Insurance Company in Southfield, Michigan. As Senior VP and CFO at Maccabees, Fred initiated and implemented one of the earliest industry demutualizations.

During his career in overseeing the individual insurance businesses at New York Life—where he began as Senior VP and CFO of Individual Operations—the company first achieved a number-one market share ranking in the sale of life insurance in the United States, a distinction it held for the next seven years. While Fred served as president, the company also achieved a number-one market share ranking in the sale of immediate annuities and in the direct sale of life insurance through the AARP organization. During that same period, the company regained its triple-A ratings from all four of the top insurance company rating agencies and significantly expanded its international presence.

Fred has held numerous leadership positions in industry-related associations and organizations. He is a past chairman of the Life Insurance Council of New York (LICONY), The American College, and the Actuarial Foundation. He also served as a director of The Life Insurance Marketing and Research Association International (LIMRA).

Following his retirement from New York Life in 2007, Fred attended Yale Divinity School, where he was awarded a master’s degree in religion in May 2011. He teaches business school courses at Fairfield University and continues to serve as a trustee on five nonprofit boards and two insurance industry for-profit corporations (RGA and CNO).

In his spare time he has written a book that will be published in late 2013. A number of his nonfiction essays have already been published.

In addition to remaining active throughout his career in industry activities, Fred has also regularly participated in civic and volunteer activities in his local community and church.

Fred and his wife, Susan, have five grown children and two granddaughters.

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Fred was recently honored as a "legend" of the insurance industry for making significant contributions to the industry and to society. View the tribute video above.

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