Strategic consolidation to enhance State Sponsored Life Insurance (SSLI) Provided to National Guard Soldiers and Airmen through Guard State Associations

ALEXANDRIA, VA— Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life), an AFBA related enterprise, announce consolidation with The Shuey Agency (TSA), effective September 1, 2015. AFBA is the leading provider in the National Guard market with over 140k active certificates representing over $12B of life insurance in force in 36 states and territories.

TSA has been the third party administrator for the largest segment of AFBA’s National Guard business since 2002. The combined entity will create a new business structure that will provide high value life insurance protection with no military specialty or combat or war exclusions to its National Guard members and their families. read more »

ALEXANDRIA, Va., — Armed Forces Benefit Association is pleased to recognize the fact that The American College of Financial Services, the nation’s largest non-profit educational institution devoted to financial services, to include Life Insurance, Banking and Securities, recently announced that General Ralph E. “Ed” Eberhart, USAF (Ret.) will receive the 2015 Soldier-Citizen Award.

The Soldier-Citizen Award was established in 2014 to recognize extraordinary individuals who have served honorably in the United States military, achieved success in the financial services industry, and who have selflessly given back to society and their community. read more »

ALEXANDRIA, Va., — Armed Forces Benefit Association (AFBA), through its investment trust, announced the acquisition of 5Star Bank by management-led Little London Bancorp Inc. (Little London).

“AFBA is experiencing significant growth in its life insurance program which requires increased capital to sustain such expansion,” said AFBA Chairman and Trustee, Ralph “Ed” Eberhart. read more »

A. Jeanine Hoover will play a critical role as AFBA’s Vice President of Human Resources

ALEXANDRIA, Va., — Armed Forces Benefit Association (AFBA) announces that A. Jeanine Hoover is joining our team as Vice President of Human Resources, effective September 3, 2014.

“Jeanine brings a breadth of knowledge and years of experience to AFBA,” said Ralph E. Eberhart, General, USAF (Ret.), Chairman and President, AFBA. “We succeed in serving those who serve our nation because of our diverse, innovative, and hard-working staff. Jeanine will provide the leadership to recruit, develop, and retain that talent.” read more »

ALEXANDRIA, Va., — Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life) today announced that CSM A. Frank Lever, USA (Ret.) has been appointed to the 5Star Life Board of Directors effective October 1, 2014.

Command Sergeant Major Lever was the senior enlisted advisor to the Director of the Army National Guard and to the Chief, National Guard Bureau on enlisted policy and procedures. He currently serves as Senior Consultant and Advisor for American Business Development Group which provides guidance to clients as they interact with the Congress and the military services. read more »

SMA Kenneth O. Preston, USA (Ret.) and CMSAF James A. Roy, USAF (Ret.) Elected to Armed Forces Benefit Association Board

ALEXANDRIA, Va., — Armed Forces Benefit Association (AFBA), a leading military life insurance provider, today announced the election of SMA Kenneth O. Preston, USA (Ret.) and CMSAF James A. Roy, USAF (Ret.) to the AFBA Board of Directors effective June 1, 2014. read more »

Critical role for insurer as it tackles growth and risk management strategies

ALEXANDRIA, Va., — Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life) announced today the hiring of David Orr as Senior Vice President & Chief Actuary of 5Star Life to lead pricing, product development, and the implementation of “best-in-class“ risk management style.

“We are very excited to have David join the AFBA 5Star team. His unique expertise will be a positive influence as we proceed to implement our five year strategic plan,” said General Ed Eberhart, USAF (Ret.), Chairman and President, AFBA. read more »

Compliance SVP role critical as insurer tackles growth strategies

ALEXANDRIA, Va., — Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life) announce that Michael Moser is joining our team as Senior Vice President, Compliance; General Counsel and Corporate Secretary of 5Star Life Insurance Company, effective September 11, 2013.

“Mike’s breadth of knowledge and prior experience will be invaluable as we implement new expansion strategies for AFBA and 5Star Life during a time when the world of compliance and regulation continues to grow more complex in nature,” said Mark Singleton, President of 5Star Life. read more »

Newly created position will drive strategic growth initiatives for 5Star Life Insurance Company

ALEXANDRIA, Va., — Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life) announce the promotion of Cynthia Light to Senior Vice President of Business Development of 5Star Life Insurance Company, effective October 3, 2013.

“This opportunity will enable Cynthia to make a broader impact as we continue to grow and expand our services to AFBA members and 5Star Life customers,” said Mark Singleton, President of 5Star Life. read more »

ALEXANDRIA, Va., — Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company today announced that Craig Piers has elected to retire as President of 5Star Life Insurance Company after 12 years of service with the company. Mark Singleton succeeded Piers as President effective June 27, 2012.

“Craig has put in place the foundation that has made 5Star Life such a success. Under his strong leadership and strategic guidance, he has built a team that has brought 5Star Life’s insurance in force from $32.6 billion to $40 billion. He has increased the policies and certificates from 466,000 to 687,000. He has also increased shareholder’s equity from $53 million to $92 million. We have been fortunate to have Craig leading the Life Company and we wish him the very best in his well-deserved retirement,” said General Ed Eberhart, USAF (Ret.), Chairman and President, AFBA. read more »