New York Life Insurance (NYLIC) has hired two executive vice presidents Chris Blunt and John Kim for its two major business units, Insurance and the Investments respectively.

The two executives will provide protection, wealth accumulation, and guaranteed income products and solutions for US customers.

Blunt had headed the company’s Retirement Income Security (RIS) business since its formation in 2008.

Kim will assume additional responsibility for RIS products and solutions as well as serve as a chief investment officer and head of NYLIC.

NYLIC has $285bn in assets under management and the combined businesses will operate as New York Life’s Investments Group.

In addition, the company said Mark Pfaff will continue to manage the company’s agency force of 12,000 career agents.

Blunt, Kim and Pfaff will report directly to chairman and CEO of New York Life, Ted Mathas.

Mathas said the alignment also further streamlines the business groups of New York Life for improved coordination and efficiency.