ACLI Supports U.S. Participation in Negotiation of International Services Agreement in Geneva
Washington, D.C. (January 15, 2013) -- The American Council of Life Insurers (ACLI) issued the following statement in response to the 90-day notification by the administration to Congress that the United States will participate in an International Services Agreement:
ACLI enthusiastically supports the Obama administration’s notification to Congress that the United States will participate in the negotiation of an International Services Agreement to begin in Geneva, Switzerland, later this year. We are pleased to offer our trade representatives any assistance we can to help produce a positive outcome.
U.S. life insurers are global leaders in the development of new and innovative products that offer financial and retirement security to people at all income levels. Our products encourage self-reliance at a time when many governments are struggling to address the financial and retirement needs of aging populations.
Consumers benefit from free trade in insurance because they have more product choices and competitive pricing. ACLI hopes the Geneva negotiations will spur global reductions in barriers to trade in insurance and other services which support U.S. economic growth and American jobs.
The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association with more than 300 member companies operating in the United States and abroad. ACLI advocates in federal, state, and international forums for public policy that supports the industry marketplace and the 75 million American families that rely on life insurers’ products for financial and retirement security. ACLI members offer life insurance, annuities, retirement plans, long-term care and disability income insurance, and reinsurance, representing more than 90 percent of industry assets and premiums. Learn more at www.acli.com.