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Paul Quaranto Jr. Elected to Chair ACLI Board

By John Manganaro

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The American Council of Life Insurers announced Thursday that it has elected Paul Quaranto Jr. as the chair of its 2024 board of directors.

Quaranto, the CEO and president of Boston Mutual Life Insurance Co., has been a strong member and supporter of the ACLI, according to the organization’s announcement.

The ACLI also revealed its full 2024 board of directors and officers, naming leaders from across the U.S. life insurance industry to key positions.

Quaranto succeeds Andy Sullivan, who heads international business and global investment management for Prudential Financial. Sullivan will remain involved in the organization during the year as the immediate past chair.

The ACLI also said Thursday that it has selected Rich Bielen, president and CEO of Protective Life Corp., as the board’s chair-elect, meaning he will become ACLI chair in September 2024. Meanwhile, Teresa Rasmussen, president and CEO of Thrivent, was named chair-elect designate and will become ACLI chair in October 2025.

ACLI’s nearly 300 member companies support the financial protection and retirement security needs of some 90 million families, according to the advocacy organization’s announcement. The chair and board of directors lead the association and its efforts to advance public policies that help direct Americans to the products and information they need for financial certainty and peace of mind.

In announcing the appointments, Susan Neely, ACLI’s president and CEO, pointed out that the organization’s member companies have faced a dramatic and dynamic period in the past several years.

“At the height of the COVID-19 pandemic, we were there for beneficiaries of life insurance policies, paying a record $100 billion in benefits,” Neely said. “Under Paul and the board’s leadership, ACLI and its life insurance company members will continue to advocate for public policies that help make certain all Americans can access a secure financial future.”

The following insurance industry leaders have been named to the ACLI board of directors for 2024:

  • Gary Bhojwani, CEO of CNO Financial
  • Roger Crandall, chairman, president and CEO of MassMutual
  • Esfand Dinshaw, chairman and CEO of Sammons Financial
  • Kevin Hogan, president and CEO of Corebridge Financial
  • Andrew McMahon, president and CEO of Guardian
  • Margaret Meister, president and CEO of Symetra Financial
  • Joseph Monk, senior vice president of Financial Services at State Farm
  • Neil Sprackling, president of U.S. Life & Health at Swiss Re
  • William Wheeler, vice chairman of Athene

The 2025 board of directors will consist of Darryl Button of Pacific Life; Ellen Cooper of Lincoln Financial; Craig DeSanto of  New York Life; Marc-Andre Giguere of Munich Re, U.S.; Daniel Houston of Principal Financial; Jasmine Jirele of Allianz Life; Allan Levine of Global Atlantic Financial Group; Eric Steigerwal of Brighthouse Financial; and Brooks Tingle of John Hancock Insurance.

The 2026 board of directors will include Gumer Alvero of Ameriprise Financial; Mehran Assadi of National Life Group; Frederick Crawford of Aflac; Will Fuller of Transamerica; Ronald Herrmann of RGA Reinsurance Co.; Nick Lane of Equitable; Laura Prieskorn of Jackson; Rob Reed, Jr. of Physicians Mutual; and Peter Schaefer of Hannover Re.

Pictured: Paul Quaranto Jr.

John Manganaro

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