There’s been a shift of responsibilities among executive vice presidents at New York Life, reflecting a reorganization of the giant mutual insurer into two major business groups, Insurance and Investments, the company announced this week.

The move is designed to “[enhance] the prospects of New York Life becoming a true leader in retirement solutions beyond income annuities,” chairman and CEO Ted Mathas said in a release.

 Chris Blunt, who has run the company’s new Retirement Income Security (RIS) business since it began in 2008, will run the new $3.3 billion Insurance Group. The life insurance business had been led by Mark Pfaff, who will continue to lead New York Life’s 12,000-member career agent force. John Y. Kim, the chief investment officer, will add RIS to his responsibilities as head of the company’s Investments Group. All three executives report to Mathas.