Insurers' Unwavering Commitment: ACLI CEO David Chavern Emphasizes Long-Term Promises
American Council of Life Insurers (ACLI) Under David Chavern's Leadership: Focus on Long-Term Planning and Economic Stability
David Chavern, the President and CEO of the American Council of Life Insurers (ACLI), has completed his first year at the helm of the organisation. The ACLI, which represents about 275 carriers, accounting for roughly 95% of industry assets, is dedicated to helping people manage risks over decades so they can live the life they want to live.
In a recent interview, Chavern highlighted several key points about the role of life insurers in the U.S. economy. He stated that life insurers invest approximately $8 trillion overall, a significant contribution to the nation's economic growth.
Chavern also emphasised the ACLI's aim to avoid being "that feller behind the tree" in future tax fights, ensuring they are front-of-mind for policymakers. In the latest tax fight, the entire industry committed to one message: "We already 'gave at the office'". This stance reflects the industry's responsibility and commitment to the nation's fiscal health.
Another significant focus for the ACLI is the growth of annuities. Annuities are the fastest-growing product due to the need for managing longevity risk. Access to annuities can lead many people to claim Social Security later, easing pressure on the system by at least $100 billion.
The ACLI's "superpower" lies in its ability to make long-term promises, offering multi-decade guarantees. This is particularly important in the transition from a long accumulation era to a decumulation and wealth-transfer era.
Chavern also discussed the ACLI's work on building a new vocabulary to better capture the full suite of services offered by life insurers. However, the interview did not provide any new information about this initiative.
The ACLI engaged immediately in the 2025 tax fight, which is referred to as the "Super Bowl of tax". Chavern stated that the ACLI is leading on reframing the vocabulary around the value of life insurers and building a deeper bench of champions in Washington and the states.
Prior to his role at the ACLI, Chavern served as President and CEO of the News Media Alliance. His experience in leadership roles positions him well to navigate the complexities of the life insurance industry and advocate for its continued growth and stability.
In the first year of his tenure, Chavern spent much of his time meeting people and understanding issues. Year one for ACLI was focused on learning and executing. As Chavern moves forward, he will continue to advocate for the ACLI's mission, ensuring life insurers remain a vital part of the U.S. economy.
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