New York Life today announced that Meghan Shea will become head of Group Benefit Solutions (GBS), effective Jan. 1, 2027. GBS provides workplace benefits solutions to employers and their employees. Shea will report to Alain Karaoglan, executive vice president and head of New York Life’s Strategic Businesses. She will succeed Scott Berlin, who will retire from New York Life on Dec. 31, 2026, following more than 36 years of service.
“Meg is an exceptional leader who understands our business as well as the needs of our clients and brokers, and she has a proven ability to build strong teams and deliver results,” said Karaoglan. “I am confident she will continue to build on our strengths to create even greater experiences for all those we serve.”
“I also want to thank Scott for his extraordinary commitment to New York Life. His decades of leadership and contributions across many areas of the company have had a lasting impact, and we congratulate him on his well-earned retirement,” added Karaoglan.
Shea currently serves as vice president and head of Distribution for GBS, where she is responsible for driving profitable growth across regional and national segments and plays a central role in the business’s strategy. She has more than 20 years of group insurance industry experience and has held a series of leadership roles across Distribution, Strategy, Solutions and Marketing. Shea joined New York Life as part of the company’s 2020 acquisition of Cigna’s Group Insurance business and was named head of GBS Distribution in 2024.
“I’m honored and excited for the opportunity to lead GBS and build on the position of strength we have established,” said Shea. “Our opportunity is to deeply understand the people we serve – our clients, their employees and beneficiaries, and our broker partners – and anticipate what they will need from us not only today, but in the future. I look forward to working alongside our talented teams to evolve how we serve the market, create meaningful value for our stakeholders and drive our next chapter of growth.”
Michael Banks, who currently serves as head of National Accounts for GBS, will succeed Shea as head of GBS Distribution. With more than 20 years of group insurance industry experience, Banks delivers deep business knowledge, strong financial acumen, significant broker and client relationships, and proven commercial leadership.
ABOUT NEW YORK LIFE
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest1 mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, disability income insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.2
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1Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/3/2026. For methodology, please see https://fortune.com/company/new-york-life-insurance/. |
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2Individual independent rating agency commentary as of 10/28/2025: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aa1), Standard & Poor’s (AA+). |
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