5Star Life Insurance Company announced the appointment of 5Star Life President, General Larry O. Spencer, as new Chair of the Board, effective January 1, 2023. He will continue to hold the post of President.
“It has been an honor to serve as President of 5Star Life these past few years, and I look forward to my new role. I would like to thank General Eberhart for his contributions to 5Star Life as Chair and for his constant and thoughtful guidance. Working alongside our board of directors, I feel confident that 5Star Life will continue to thrive in its dual mission: first, as the primary underwriter of the Armed Forces Benefit Association (AFBA) member policies, and second, as a growing provider of group and worksite voluntary products,” said General Larry O. Spencer, USAF (Ret.), Chair and President of 5Star Life and President of AFBA.
Larry O. Spencer spent more than 40 years in the Air Force, beginning his career in the enlisted ranks and rising to become a four-star general. General Spencer’s last assignment was as the Vice Chief of Staff of the US Air Force where he assisted 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 received his Bachelor of Science Degree in industrial engineering technology from Southern Illinois University at Carbondale and has two Master of Science degrees. He serves on the boards of Whirlpool Corporation, Triumph Group, Inc., and Haynes International, Inc. General Spencer became a member of the AFBA Board in February 2020. He was named AFBA President in March 2020 and 5Star Life Insurance Company President in June 2020.
