ALEXANDRIA, Va.--(BUSINESS WIRE)--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.
“David’s deep knowledge of the life insurance industry makes him a great asset to our organization,” said Mark Singleton, President of 5Star Life. “His insights and expertise will enable us to increase our responsiveness to market demands, pursue our strategic direction and manage risks accordingly.”
Orr comes to 5Star Life with extensive experience in the life insurance industry. Prior to joining 5Star Life, Orr held various leadership positions with Legal & General America in research and development, actuarial, marketing, product development, and underwriting. In his most recent role as Senior Vice President and Chief Actuary, he was responsible for corporate oversight of actuarial practices and provided leadership, direction and vision. Orr is a Fellow of the Institute of Actuaries, a Member of the American Academy of Actuaries and an Associate of the Society of Actuaries. He holds a degree in mathematics from Southampton University in England.
“I am excited to join AFBA and 5Star Life,” said Orr. “I look forward to helping the company grow and to bring additional focus and structure to pricing, product development and risk management.”
About Armed Forces Benefit Association (AFBA)
Headquartered in Alexandria, Va., Armed Forces Benefit Association (AFBA) was established in 1947 with the support of the General of the Army, Dwight D. Eisenhower. AFBA continues to honor the mission set forth by its founders—to promote the welfare of its members and their families and to advance and safeguard their economic interests by providing high quality, low cost life insurance products and other financial benefits and services in peace and in war.
For over 67 years, AFBA has stood by our country’s armed forces. Today, AFBA is a market leader in offering low cost life insurance to those who serve this great nation to include members of the uniformed services, first responders, government employees and their families.
AFBA currently has over 430,000 members with over $40 billion of life insurance in force and in excess of $1.5 billion of claims paid since inception. These life insurance programs are underwritten by 5Star Life Insurance Company, a related enterprise of AFBA. For more information about AFBA, visit www.afba.com.
About 5Star Life Insurance Company
5Star Life Insurance Company (5Star Life) is the underwriter of AFBA member policies and is also a growing provider of supplemental and other voluntary life insurance products. Its flexible business model enables 5Star Life to serve the needs of a diverse clientele — as an insurance advisor to individuals and organizations, and as a trusted partner to brokers. Headquartered in Alexandria, VA, 5Star Life is currently licensed in 49 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands.