New York Life appoints new general counsel from in-house

New York Life Insurance Company has promoted Michael McDonnell to become its new general counsel.

McDonnell has been senior vice president, deputy general counsel and chief insurance counsel since 2021, offering counsel across New York Life’s foundational and strategic insurance businesses. He joined the company in 2013 as associate general counsel for the insurance and agency group and in 2016 he became vice president and associate general counsel.

Previously, he was an associate with law firm Debevoise & Plimpton, where he worked for 10 years.

In his new role, McDonnell oversees the office of the general counsel, which includes the company’s insurance and agency, investments, corporate practice and tax teams. He reports to Sheila Davidson, executive vice president and chief legal and administrative officer.

Natalie Lamarque left New York Life this summer to join Principal Financial Group as its new general counsel. She had been senior vice president and general counsel at New York Life since 2020, having joined the firm in 2014 as an associate general counsel in the company’s litigation group.

Davidson says in a statement: ‘We congratulate Mike on this well-earned appointment. During his time with the company, he has become an indispensable counselor and has earned the confidence and respect of senior leadership across the business, the entire legal team and his peers in the industry. New York Life will continue to benefit from his sound judgment, expertise and commitment to serving the company.’