Alexandria, Virginia–(business wire)–5Star Life Insurance Company today announced the appointment of 5Star Life President General Larry O. Spencer as its new Chairman of the Board, effective January 1, 2023. He will continue to hold the position of president.
“It has been an honor to serve as President of 5Star Life over the last few years and I look forward to his new role. I would like to thank the General.Working with the Board of Directors, I am confident that 5Star Life will continue to thrive in its dual mission: First, the Armed Forces Benefit Association (AFBA) Member Policy Principal Secondly, as a group and insurance growth provider, said General Larry O. Spencer, USAF (Veterans), Chairman and President of 5Star Life and President of AFBA.
Larry O. Spencer spent over 40 years in the Air Force, starting his career as a non-commissioned officer and rising to the rank of four-star general. General Spencer’s last assignment was as Deputy Chief of Staff in the U.S. Air Force, assisting the Chief of Staff in organizing, training, and equipping 690,000 active-duty, Guard, Reserve, and civilian forces. After retiring from the Air Force in 2015, General Spencer served as president of the Air Force Association until 2019. General Spencer holds a Bachelor of Science degree in Industrial Engineering Technology and two Master of Science degrees from Southern Illinois University in Carbondale. He serves on the boards of his Whirlpool Corporation, Triumph Group, Inc. and Haynes International, Inc. General Spencer said in February 2020 he became a member of the AFBA Board of Directors. He was named president of AFBA in March 2020 and president of 5Star Life Insurance Company in June. 2020.
About Five Star Life Insurance
5Star Life Insurance Company (5Star Life) is a leading underwriter of Armed Forces Benefit Association (AFBA) member policies and a growing provider of group and workplace volunteer products. Its business model enables 5Star Life to serve the needs of diverse customers as an insurance advisor for individuals and organizations and as a trusted partner for brokers. Headquartered in Alexandria, Virginia, 5Star Life is currently licensed in 49 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam and American Samoa.