Mutual Life Insurance Company of New York

[b] The company offered whole life and term insurance and helped develop mortality tables, actuarial science, and premium calculations.

Known for its conservative approach, it precluded issuing policies to people traveling to China or around the Cape of Good Hope, or to seamen engaged in whaling as well as "gamblers, barkeepers... saloon keepers, keepers of billiard parlors," according to the company's 1886 policy handbook.

[7] After the death of Winston in March 1885, Richard McCurdy succeeded to the presidency, the same year the Company introduced deferred dividend policies.

[3] In 1886, Mutual Life established agencies in London,[8] Berlin, Hamburg, Sydney, Mexico City, and in Puerto Rico.

[3] During the Great Depression, however, the Company terminated a number of employees, service contractors, and experienced a series of policy lapses which caused a dip in assets and a decline of insurance in force.

By 1959, bonds accounted for less than half of the company's assets, while stocks had grown six-fold to constitute 6% and mortgages were up to 32%.

Ambassador to the United Kingdom in 1947, Alexander E. Patterson was named president, serving until his death in September 1948.

[12] Louis W. Dawson had active charge of operations following Paterson's death, but was not elected president until March 1950.

[14] In 1952, the company began offering personal sickness and health policies before the strength of unions and collective bargaining units which led to the development of group coverage.

In 1953, the Company developed its first group plan for small businesses, whereby it provided pension, life insurance, disability, hospital, surgical, and polio benefits.

[15] In September 1959, Roger Hull became president and chief executive officer while Louis W. Dawson was elected to chairman of the board of trustees (replacing Douglas).

[16] During his tenure the Company expanded significantly and the developed new coverages including the first substandard-risk accident and health policy in 1963.

[20] In February 1972, following the death of Roger Hull, Hughes served as chairman and chief executive officer.

In October 1967, James S. Bingay, became president and chief executive officer while Richard I. Fricke became chairman.

[36] Following its IPO, where it distributed shares to policyholders and selling stock to the public at $23.50 per share, the Mony Life Insurance Company, a unit of Mony Group Inc., acquired the Cincinnati-based U.S. Financial Life Insurance Company for $48 million.

[37] In August 2000, MONY acquired Advest Group, a brokerage firm based in Hartford, for approximately $275 million in stock and cash.

[38] In February 2001, MONY purchased a small mergers-and-acquisitions specialist, Matrix, that was based in Richmond, Virginia.

[42] The offer was accepted by shareholders in May 2004,[43][44] and on July 8, 2004, MONY became a wholly owned subsidiaries of European insurer, allowing AXA to become "the fourth-largest seller of variable annuities in the United States and the largest seller of variable life insurance.

"[44] As part of the takeover, MONY's chief executive, Michael I. Roth, stood "to receive as much as $23.3 million, including payments for vested stock options".