New York Life Investments Announces New Stable Value Unit

April 21, 2010 ( - New York Life Investments has announced the launch of Stable Value Investments (SVI), a new unit that will create and distribute proprietary fixed income money management solutions backed by book value guarantees from the New York Life Insurance Company.

Leading this new unit as director and head of Stable Value Investments is Aruna Hobbs, who joined New York Life in November 2009 from AEGON Insurance. As director and head of Pensions and Savings at AEGON, she was elected to the Stable Value Board of Directors for two terms and was a member of the LIMRA Marketing Officers Round Table, according to the announcement.

Hobbs also served as a member of the Stable Value Investment Association (SVIA) Executive Committee.   

“The recent financial crisis has generated extraordinary demand for book value guarantees from high- quality providers.   We are confident that, with SVI in place and under Aruna’s skilled leadership and expertise, New York Life Investments is well positioned to provide a very attractive value proposition to the marketplace,” said Steven Dorval, the managing director at New York Life Investments responsible for oversight of the new division, in the announcement.