American Council of Life Insurers Issues Statement on International Insurance Capital Standard Announcement

WASHINGTON, Nov. 14 -- The American Council of Life Insurers issued the following statement by President and CEO Susan Neely on the International Insurance Capital Standard announcement by the International Association of Insurance Supervisors:

"ACLI supports U.S. regulators for their tireless work to defend consumer protections at the IAIS Annual Meeting in Abu Dhabi.

"Their efforts are committed to preserving consumer access to products that provide long-term protection and financial security to 90 million American families.

"While more work is needed, U.S. regulators addressed key concerns ACLI expressed earlier this year regarding the International Capital Standard. Moving forward, ACLI shares U.S. regulators' support for a risk-based capital standard that has proven to be effective in protecting policyholders."

The American Council of Life Insurers (ACLI) advocates on behalf of 280 member companies dedicated to providing products and services that promote consumers' financial and retirement security. 90 million American families depend on our members for life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, dental and vision and other supplemental benefits. ACLI represents member companies in state, federal and international forums for public policy that supports the industry marketplace and the families that rely on life insurers' products for peace of mind. ACLI members represent 95 percent of industry assets in the United States.