Original sentence: And through its global subsidiary, New York Life International, LLC, it offers insurance products and services in markets throughout Asia and Latin America.New York Life Insurance Company, a Fortune 100 Company, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world.New York Life Investment Management LLCprovides institutional asset management and retirement plan services.New York Life’s family of companies offers life insurance, annuities, and long-term care insurance.Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds
Edited sentence: As of December 31, 2005 it had accumulated $17.8 billion in profits from its policyowners under the guise of mutuality and its board of directors has staunchly refused to return that money.At the beginning of the 21st century numerous mutuals such as Prudential, MetLife, and John Hancock decided to demutualize and return to policyowners all the profits earned over the years.At the end of 2005 is was the largest mutual life insurance company in the United States.Despite that fundamental fact, they have managed to accumulate massive profits over the years by overcharging policyowners for insurance and paying them too little in dividends.It was renamed the New York Life Insurance Company in 1849.Mutual life insurance companies were originally organized to provide insurance-at-cost.New York Life is among the few remaining mutual life insurers that have not demutualized.New York Life's whole life policyowners would receive an estimated $9,003 per policy and its other policyowners would receive $1,500 per policy in a demutualization according to financial data contained in New York Life's  2005 Annual Statement to the National Association of Insurance Commissioners (NAIC), the company’s 2005 Annual Report and shown at.Policyowners for Demutualization of New York Life.Policyowners were awarded cash, stock and policy credits exceeding $100 billion in these demutualizations, which have been regarded as socially desirable.The New York Life Insurance Company was founded in 1845 as the Nautilus Insurance Company in New York City, with assets of just $17,000