New York Life International LLC, the international arm of New York Life Insurance Co., announced that Mario Vela has succeeded William Beaty as director general and head of its Seguros Monterrey New York Life subsidiary in Mexico City.
Mr. Vela, 40, was director of Seguros Monterrey's sales force. He was hired in 1999 as director of operations.
Mr. Beaty was country head of the unit since joining the company in 2000, and was promoted to vice chairman of New York Life International in September.
Seguros Monterrey was established 67 years ago. It has 840,000 policyholders.
New York Life International, which announced the promotion last week, offers its products in Latin America and Asia through subsidiaries and affiliates in Mexico, Argentina, South Korea, China, Hong Kong, India, Taiwan, and Thailand.