New director brings deep financial expertise to guide the enterprise

ALEXANDRIA, VA- The Armed Forces Benefit Association (AFBA) announced today the appointment of Lawrence “Larry” R. Lynch to its Board of Directors, effective September 1, 2022.

“We are pleased to welcome Larry Lynch to the AFBA Board of Directors. His financial expertise will help guide our board as we continue to make financially sound decisions for the enterprise,” said General Craig R. McKinley, USAF (Ret.), AFBA Chair. “Our financial strength ensures we are able to fulfill our mission of serving those who serve this great nation today and in the future.”

Lawrence R. Lynch spent 39 years with PricewaterhouseCoopers (“PwC”), 26 years of which he served as a Partner. At PwC, Mr. Lynch provided Assurance, Accounting and Advisory services covering both domestic and international companies. Lawrence was a member of the Financial Services Practice for over 20 years where he focused primarily on the Insurance industry covering, life, property and casualty, financial guaranty, credit and reinsurance sectors. Further to his professional services experience, Lawrence has served as Chairman of The Board of Trustees at the University of Scranton and Marymount International School of Paris.

“We are committed to having a board with market expertise and business experience, and appointing Larry demonstrates that commitment,” said General Larry O. Spencer, USAF (Ret.) President of AFBA and 5Star Life. “We are happy to welcome Larry Lynch to the AFBA Board of Directors.”

About Armed Forces Benefit Association

With the support of the General of the Army, Dwight D. Eisenhower, the Armed Forces Benefit Association (AFBA) was established in 1947 in the basement of the Pentagon to ease the strain on military members and their families who, at the time, could not purchase life insurance that would pay a death benefit if the member was killed in combat. Today, headquartered in Alexandria, VA, AFBA continues to honor its mission, in war and peace, promoting the welfare of its members by providing survivor and other benefits to those who serve this great nation, including members of the uniformed services, first responders, government employees, and their families. AFBA has more than 535,000 members with $40 billion of death benefits in force and has paid nearly $2 billion of death benefits since inception. AFBA death benefits are primarily underwritten by its affiliate, 5Star Life Insurance Company (a Lincoln, Nebraska domiciled company).