Press Releases

AFBA / 5Star Life Chosen as Life Insurance Provider by the National Guard Association of California

May 1, 2017

ALEXANDRIA, VA—The Armed Forces Benefit Association (AFBA) and its affiliate, 5Star Life Insurance Company, announced today it has been selected by the National Guard Association of California (NGAC) as the provider of its State Sponsored Life Insurance program effective May 1, 2017.  read more »


AFBA / 5Star Announces New Affiliation with National Guard Association of South Carolina

July 6, 2016

ALEXANDRIA, VA—Armed Forces Benefit Association and its affiliate, 5Star Life Insurance Company, proudly announce that, effective 1 July, 2016, they have partnered with the National Guard Association of South Carolina in support of its State Sponsored Life Insurance program.  read more »


AFBA appoints Salvatore J. Cassano as the newest member of its Board of Directors

June 1, 2016

ALEXANDRIA, VA—Armed Forces Benefit Association (AFBA) announces that Salvatore J. Cassano has been appointed to its Board of Directors effective June 1, 2016.

 “On behalf of the directors, I am pleased to welcome Sal Cassano, Commissioner, FDNY (Ret.) to the Board. With 44 years in the New York City Fire Department (FDNY), at every uniformed rank level, he  will add a valuable perspective to our organization as we continue to grow in the First Responder market,” said General Ralph E. “Ed” Eberhart, USAF (Ret.), Chairman and President of AFBA.  read more »


AFBA appoints Thomas W. Walsh as the newest member of its Board of Directors

April 12, 2016

ALEXANDRIA, VA—Armed Forces Benefit Association (AFBA) announces that Thomas (Tom) W. Walsh has been appointed to its Board of Directors.

“On behalf of the directors, I am pleased to welcome Tom Walsh to the Board. His considerable financial acumen, coupled with his tenure with AFBA as a Senior Advisor to the Board, makes him eminently qualified to serve in this position” says General Ralph E. “Ed” Eberhart, USAF (Ret.), Chairman and President of AFBA.

Walsh has more than 40 years of auditing and accounting experience, starting his career with PricewaterhouseCoopers, LLP in 1970.  Prior to his retirement in 2007, he served as the audit engagement partner on numerous SEC registered and private financial services industry clients including insurance companies; commercial and retail bank holding companies; and, securities broker/dealers. Walsh is a Certified Public Accountant (CPA), Fellow, Life Management Institute (FLMI) and Certified Bank Auditor (CBA). read more »


AFBA and 5Star Life Announce Executive Changes.

January 19, 2016

ALEXANDRIA, VA—Armed Forces Benefit Association (AFBA) and its affiliate, 5Star Life Insurance Company (5Star Life) announce executive appointments at their headquarters.

5Star Life’s Business Development unit will merge with AFBA’s Marketing Department led by Cynthia Light, Senior Vice President, Marketing. Light joined AFBA and 5Star Life in 2011, most recently heading up the Business Development unit and has over 25 years of leadership experience in life insurance sales and marketing roles at Pacific Life and Shenandoah Life. Light holds the Chartered Financial Consultant (ChFC) and Chartered Life Underwriter (CLU) designations.

Michael Moser, previously Senior Vice President, Compliance; General Counsel and Corporate Secretary of 5Star Life, will expand his role to include General Counsel for the entire AFBA / 5Star Life enterprise. Moser joined AFBA and 5Star Life in September 2013 with more than 15 years of experience in the financial services industry.  Previously, he served eight years as Vice President & Chief Compliance Officer for the Fortune 500 company, the Western & Southern Financial Group, and eight years in ascending legal and compliance roles at the Fortune 100 company, Nationwide Mutual.

read more »


 

Jeffrey Sandefur Retires as Armed Forces Benefit Association’s Senior Vice President, Marketing

January 7, 2016

ALEXANDRIA, VA—Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life) announce the January 1, 2016 retirement of Jeffrey Sandefur, Senior Vice President of Marketing.

Sandefur joined AFBA in 1989 as Vice President of Marketing and was named Senior Vice President in November 2000.

Sandefur’s contributions to AFBA include the development of an impressive array of member benefits to accompany the Association’s suite of life insurance products. He also directed the development of the AFBA website and integration of social media.
read more »


Marshal L. Cole, Esquire Retires

November 3, 2015

ALEXANDRIA, VA—After more than five decades of service to the Armed Forces Benefit Association, Marshal L. Cole announced his retirement as General Counsel on October 29, 2015.

Cole is a graduate of Yale University and Georgetown Law Center.  His education was then followed by a three-year ROTC commissioned tour in the USAF.  Cole then joined the District of Columbia general and federal regulatory law practice of Wilner & Scheiner. In June 1990, when his senior partner, Mort Wilner, Esq., AFBA’s guiding legal advisor since its founding in 1947, retired, Cole was appointed AFBA’s General Counsel. read more »


 

AFBA and 5Star Life Insurance Company Announce Consolidation with The Shuey Agency

Strategic consolidation to enhance State Sponsored Life Insurance (SSLI) Provided to National Guard Soldiers and Airmen through Guard State Associations

September 1, 2015

ALEXANDRIA, VA— Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life), an AFBA related enterprise, announce consolidation with The Shuey Agency (TSA), effective September 1, 2015. AFBA is the leading provider in the National Guard market with over 140k active certificates representing over $12B of life insurance in force in 36 states and territories. 

TSA has been the third party administrator for the largest segment of AFBA’s National Guard business since 2002. The combined entity will create a new business structure that will provide high value life insurance protection with no military specialty or combat or war exclusions to its National Guard members and their families. read more »

 
 

The American College Congratulates General Ralph E. "Ed" Eberhart, USAF (Ret.), Recipient of the 2015 Soldier-Citizen Award

August 18, 2015 

ALEXANDRIA, Va., -- Armed Forces Benefit Association is pleased to recognize the fact that The American College of Financial Services, the nation’s largest non-profit educational institution devoted to financial services, to include Life Insurance, Banking and Securities, recently announced that General Ralph E. "Ed" Eberhart, USAF (Ret.) will receive the 2015 Soldier-Citizen Award.

The Soldier-Citizen Award was established in 2014 to recognize extraordinary individuals who have served honorably in the United States military, achieved success in the financial services industry, and who have selflessly given back to society and their community. read more »


Management acquires 5Star Bank of Colorado Springs, CO

AFBA strategic plan to focus on growth of its membership life insurance program

May 28, 2015

ALEXANDRIA, Va., -- Armed Forces Benefit Association (AFBA), through its investment trust, announced the acquisition of 5Star Bank by management-led Little London Bancorp Inc. (Little London).

“AFBA is experiencing significant growth in its life insurance program which requires increased capital to sustain such expansion,” said AFBA Chairman and Trustee, Ralph “Ed” Eberhart. read more »


AFBA and 5Star Life Elect CSM A. Frank Lever, USA (Ret.) to Board

September 17, 2014

ALEXANDRIA, Va., -- Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life) today announced that CSM A. Frank Lever, USA (Ret.) has been appointed to the 5Star Life Board of Directors effective October 1, 2014.

Command Sergeant Major Lever was the senior enlisted advisor to the Director of the Army National Guard and to the Chief, National Guard Bureau on enlisted policy and procedures. He currently serves as Senior Consultant and Advisor for American Business Development Group which provides guidance to clients as they interact with the Congress and the military services. read more »


AFBA Hires New VP of Human Resources

A. Jeanine Hoover will play a critical role as AFBA’s Vice President of Human Resources

September 17, 2014

ALEXANDRIA, Va., -- Armed Forces Benefit Association (AFBA) announces that A. Jeanine Hoover is joining our team as Vice President of Human Resources, effective September 3, 2014.

“Jeanine brings a breadth of knowledge and years of experience to AFBA,” said Ralph E. Eberhart, General, USAF (Ret.), Chairman and President, AFBA. “We succeed in serving those who serve our nation because of our diverse, innovative, and hard-working staff. Jeanine will provide the leadership to recruit, develop, and retain that talent.” read more »


AFBA Elects Two New Board Members

SMA Kenneth O. Preston, USA (Ret.) and CMSAF James A. Roy, USAF (Ret.) Elected to Armed Forces Benefit Association Board

August 20, 2014

ALEXANDRIA, Va., -- Armed Forces Benefit Association (AFBA), a leading military life insurance provider, today announced the election of SMA Kenneth O. Preston, USA (Ret.) and CMSAF James A. Roy, USAF (Ret.) to the AFBA Board of Directors effective June 1, 2014. read more »


AFBA and 5Star Life Insurance Company Hire David Orr as New Senior Vice President & Chief Actuary

Critical role for insurer as it tackles growth and risk management strategies

January 31, 2014

ALEXANDRIA, Va., -- 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. read more »


AFBA and 5Star Life Insurance Company Announce New Senior Vice President of Business Development

Newly created position will drive strategic growth initiatives for 5Star Life Insurance Company

November 6, 2013

ALEXANDRIA, Va., -- Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life) announce the promotion of Cynthia Light to Senior Vice President of Business Development of 5Star Life Insurance Company, effective October 3, 2013.

"This opportunity will enable Cynthia to make a broader impact as we continue to grow and expand our services to AFBA members and 5Star Life customers," said Mark Singleton, President of 5Star Life. read more »


AFBA and 5Star Life Insurance Company Hires New Senior Vice President of Compliance

Compliance SVP role critical as insurer tackles growth strategies

November 6, 2013

ALEXANDRIA, Va., -- Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company (5Star Life) announce that Michael Moser is joining our team as Senior Vice President, Compliance; General Counsel and Corporate Secretary of 5Star Life Insurance Company, effective September 11, 2013.

"Mike's breadth of knowledge and prior experience will be invaluable as we implement new expansion strategies for AFBA and 5Star Life during a time when the world of compliance and regulation continues to grow more complex in nature," said Mark Singleton, President of 5Star Life. read more »


AFBA and 5Star Life Insurance Company's Piers to Retire; Board Elects Singleton

July 24, 2012

ALEXANDRIA, Va., -- Armed Forces Benefit Association (AFBA) and 5Star Life Insurance Company today announced that Craig Piers has elected to retire as President of 5Star Life Insurance Company after 12 years of service with the company. Mark Singleton succeeded Piers as President effective June 27, 2012.

"Craig has put in place the foundation that has made 5Star Life such a success. Under his strong leadership and strategic guidance, he has built a team that has brought 5Star Life's insurance in force from $32.6 billion to $40 billion. He has increased the policies and certificates from 466,000 to 687,000. He has also increased shareholder's equity from $53 million to $92 million. We have been fortunate to have Craig leading the Life Company and we wish him the very best in his well-deserved retirement," said General Ed Eberhart, USAF (Ret.), Chairman and President, AFBA. read more »