Theodore ‘Ted’ Mathas is a businessman who was born in 1967 in Norfolk, Virginia. He is the Chairman, President, and Chief Executive Officer of New York Life Insurance Company. He has served as the President since July 1, 2007, and as the Chief Executive Officer since June 30, 2008. He was appointed as the Chairman on June 1, 2009. Although he is well known in business and insurance industry circles, there are probably many things that you do not know about this businessman. Here are ten facts you didn’t know about Theodore Mathas.
1. He Attended Two Universities
Theodore Mathas attended two universities and the first was Stanford University. He earned a BA with distinction when he graduated from the educational institution in 1989. He then attended the University of Virginia and graduated with a J.D. in 1992. While at the University of Virginia, he was a member of the Order of the Coif and of the Virginia Law Review
2. He is a Family Man
In his personal life, Mathas is a family man and is happily married to Keryn. The couple has three children together and the family lives in Armonk, New York.
3. He Believes in Reflecting Diversity
In many interviews, Mathas has been asked about his thoughts on diversity in the workplace. He has responded by saying that his company’s client base is diverse. Therefore, it is important to reflect this diversity in the workplace.
4. He Has Been the Industry Chair of the American Council of Life Insurers
Alongside his roles at New York Life Insurance, Theodore Mathas has held several other responsible positions. One of these was the Industry Chair of the American Council of Life Insurers. This is no longer a position he holds as he is now focusing more on his role with New York Life Insurance Company.
5. He is On the Board of the Financial Services Roundtable
Mathas is a very busy man as he also serves the Board of the Financial Services Roundtable in a variety of capacities. He is a member of the board’s Executive Committee and is involved with other groups within the Financial Services Roundtable. Some of these include the US Chamber of Commerce, Hackley School, the Norfolk Collegiate School, the Partnership for New York City, and the American Museum of Natural History.
6. He is a Member of the Federal Advisory Committee on Insurance
Further to his roles at New York Life Insurance and the Financial Services Roundtable, Theodore Mathas is also a member of the Federal Advisory Committee on Insurance. This is a group of insurance executives, regulators, state legislators, consumer advocates, and college professors. They advise the Federal Insurance Office in the US Department of the Treasury.
7. He Thinks Humans and Digital Technology Work Well Together
A topic that has been brought up in several interviews with Theodore Mathas is whether human guidance or the use of digital technology is more important in the insurance industry. He believes that human guidance and digital technology complement each other as each has elements that the other cannot offer. Therefore, he thinks it is important for businesses to use both in harmony.
8. He Has a Six-Figure Salary
Mathas is one of the best paid executives in the insurance industry. It was recently reported that he is now achieving an annual salary of $250,000, which reflects his experience in the industry.
9. He Makes Political Donations
Ted Mathas makes political donations, mainly to members of the Democratic party. In 2008, he donated to several Democratic party members. These included Barney Frank and Hilary Clinton. He then donated $14,000 to Democratic recipients during the election cycle of 2010.
10. He Supports Childhood Bereavement
As the President, CEO, and Chairman of New York Life, he is also responsible for the New York Life Foundation. This provides funding for charities and its main focus is childhood bereavement. Mathas says that one in 20 American children lose a parent before they are 16, yet people do not understand the big impact this has on young people’s lives. The New York Life Foundation provides funding for scholarly research and direct child bereavement services that need staff training or operational resources. In ten years, the foundation has donated over $35 million to this cause and they plan to continue providing funding for childhood bereavement services in the future.