Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
WASHINGTON, Oct. 22 -- The American Council of Life Insurers issued the following news release:
The American Council of Life Insurers (ACLI), whose member companies provide financial and retirement security to millions of American families, elected its 2013 Chairman and Board of Directors today at its Annual Conference.
Elected as Chairman was James T. Morris, Chairman and CEO of Pacific Life Insurance Company. Mr. Morris will serve as Chairman for one year.
"Jim is an exceptional leader and the ideal choice to be ACLI's Chairman this year," said ACLI President and CEO Dirk Kempthorne. "He is respected among his peers in the life insurance industry and has a deep understanding of the key issues affecting companies and consumers. These qualities will serve ACLI, the industry, and policyholders well in the coming year."
ACLI also elected John D. Johns, Chairman, President and CEO of Protective Life Corporation, to its Chairman-Elect position. Mr. Johns will assume the chairmanship in October 2013. ACLI's Chairman-Elect Designate post was awarded to Roger W. Crandall, Chairman, President and CEO of Massachusetts Mutual Life Insurance Company (MassMutual). Mr. Crandall will take over as ACLI Chairman in October 2014. Ted Mathas, Chairman, President and CEO of New York Life Insurance Company, will serve as ACLI Immediate Past Chairman in the coming year.
The Chairman and Board of Directors set policy and guide the actions of the association, which represents the life insurance industry in Washington, D.C., the states and internationally.
Serving on ACLI's Board through 2015:
- Gary C. Bhojwani, Chairman of the Board, Allianz Life Insurance Company of North America;
- Don Civgin, President & CEO, Allstate Financial;
- Michael G. DeKoning, President & CEO, Munich American Reassurance Company;
- Bradford L. Hewitt, President & CEO, Thrivent Financial for Lutherans;
- Dennis L. Johnson, President & CEO, United Heritage Life Insurance Company;
- Rodney O. Martin, Chief Executive Officer, ING U.S.;
- Sherry Martin, COO & VP, Policyholder Services, Life and Property/Casualty, Farm Bureau Life Insurance Company of Michigan;
- Eileen C. McDonnell, President & CEO, The Penn Mutual Life Insurance Company;
- Jeffrey Nordstrom, President, USAA Life Insurance Company.
Serving on ACLI's Board through 2014:
- Craig Bromley, President, John Hancock Financial Services;
- Steven A. Kandarian, Chairman, President & CEO, MetLife, Inc.;
- Christopher J. Littlefield, Chairman, President & CEO, Aviva USA;
- JoAnn M. Martin, President & CEO, Ameritas;
- Andrew J. McMahon, President, AXA Equitable Life Insurance Company;
- Deanna Mulligan, President & CEO, The Guardian Life Insurance Company of America;
- Peter R. Schaefer, President & CEO, Hannover Life Reassurance Company of America;
- Peter L. Tedone, President & CEO, Vantis Life Insurance Company;
- Jay S. Wintrob, President & CEO, SunAmerica Financial Group.
Serving on ACLI's Board through 2013:
- John F. Barrett, Chairman, President & CEO, Western & Southern Financial Group;
- Roger Ferguson, Jr., President & CEO, TIAA-CREF;
- Dennis R. Glass, President & CEO, Lincoln Financial Group;
- Thomas E. Henning, Chairman, President & CEO, Assurity Life;
- Joseph Monk, Senior VP, Chief Admin Officer, Life & VP Health & Mutual Funds, State Farm Insurance Companies;
- Mark W. Mullin, President & CEO, Transamerica Corporation;
- John E. Schlifske, Chairman & CEO, The Northwestern Mutual Life Insurance Company;
- J. Eric Smith, President & CEO, Swiss Re Americas;
Larry D. Zimpleman, Chairman, President & CEO, Principal Financial Group.
ACLI represents life insurers' interests on a wide range of topics at both the federal and state levels and internationally. In addition, ACLI represents the industry before courts and aggressively promotes the role life insurers play in the financial and retirement security of millions of Americans as well as the nation's economic well-being.
"The life insurance industry's financial strength and commitment to consumers are the foundation of America's financial security. Millions of families count on life insurers' products for peace of mind, long-term savings and a guarantee of lifetime income in retirement. Under our Board's strong leadership, ACLI is prepared to help life insurers continue their mission to provide Americans with the financial and retirement security they want and need," Kempthorne said.
TNS-LE 121026-4084608 StaffFurigay