WASHINGTON – American Council of Life Insurers (ACLI) President and CEO Susan Neely made the following comments on the Improving Corporate Governance Through Diversity Act introduced today by U.S. Rep. Gregory Meeks (D-N.Y.) and U.S. Sen. Bob Menendez (D-N.J.):

“The Improving Corporate Governance Through Diversity Act makes important changes that will advance diversity and inclusion among corporate leadership, a priority for life insurers and other industries. The information generated by the legislation’s reporting and disclosure requirements will help corporations take meaningful steps toward achieving this goal.

“Life insurers’ support for the legislation is rooted in our belief that all Americans should have tools and resources that will help them thrive and succeed. Last year we launched the economic empowerment and racial equity initiative that aims to help more Americans access opportunities that lead to financial protection and security. 

“A key component to the success of our initiative is ensuring that company leadership and workforces include diverse voices at all levels of decision-making and reflect the diversity of the communities we serve. ACLI’s Board of Directors was among the first association boards to have 100 percent of its members sign the Pledge for CEO Action for Diversity and Inclusion, which aims to expand diversity in corporate leadership.

“Chairman Meeks’ and Chairman Menendez’s legislation pairs perfectly with our members’ commitment to advancing racial equity as demonstrated by this pledge and adoption of our comprehensive economic empowerment and racial equity effort. Helping to ensure enactment of the legislation will be a top priority for us during the 117^th Congress.”

Read ACLI’s letters of support to Rep. Meeks and Sen. Menendez.

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 95 percent of industry assets in the United States.