WASHINGTON –American Council of Life Insurers (ACLI) President and CEO Susan Neely made the following comments today on the outcome of the 2020 election:

“We congratulate President-elect Joe Biden and Vice-President-elect Kamala Harris on their victory. We pledge to work with the Biden administration, as well as with new and returning lawmakers in Washington D.C. and state capitals, to meet our shared commitment to the financial health of our nation and the financial future of all Americans.

“As we have done for more than 200 years, through war, domestic strife and pandemics, Americans showed once again the strength and resiliency of our free and democratic process. With a legitimate process behind us, it is imperative that we join together to tackle head on the challenges our country is facing.

“Life insurers are positioned to help in many ways, as we have throughout our history. By investing every day in bonds, mortgages and other long-term investments, we support our nation’s economy. Through our Economic Empowerment and Racial Equity initiative, we are addressing longstanding racial and economic inequities in our country. And through our products, we play a significant role in building wealth and financial security for generations.

“No one can predict the challenges and opportunities that lie ahead. However, one thing is certain: our industry’s unwavering commitment to working with those elected to hold the public trust and helping all Americans succeed and enjoy long-term financial and retirement security.”

The American Council of Life Insurers (ACLI) is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI’s member companies are dedicated to protecting consumers’ financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI’s 280 member companies represent 94 percent of industry assets in the United States.