Paul Quaranto Jr. Elected to Chair ACLI Board

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.