News Release

WASHINGTON –The American Council of Life Insurers (ACLI) Forum 500 today honored Boston Mutual Life Insurance Company Chairman, CEO and President Paul A. Quaranto, Jr. with the Distinguished Service Award.

The annual award is given to a member of the ACLI Forum 500 whose efforts have furthered the life insurance industry’s mission to help all Americans access financial protection for themselves and their families. The Forum 500 is composed of small- and medium-sized life insurance companies who serve consumers in communities across the United States.

“Paul has been an industry leader in advocating for policies that enhance consumer protection, strengthen people’s financial security and advance economic empowerment for all consumers, especially those in underserved communities,” said ACLI President and CEO Susan Neely. “His dedication to the industry’s mission of providing families with financial protection epitomizes life insurers’ commitment to service. It is why his peers have chosen to honor him with this prestigious award.”

Mr. Quaranto has been a key sponsor of the ACLI Capital Challenge, an annual road race that benefits Junior Achievement’s financial education programs. He also is a strong proponent of ACLI’s Economic Empowerment and Racial Equity initiative. In 2020, Mr. Quaranto and other members of ACLI’s Board of Directors signed the CEO Pledge for Diversity and Inclusion. It was one the first association boards to have all its members sign the pledge, which aims to expand diversity in corporate leadership.

In addition to serving on ACLI’s board, Mr. Quaranto is the Chairman of the Life Insurance Association of Massachusetts. Mr. Quaranto also is a member of the ACLI board’s Executive Committee and Co-Chair of the ACLI CEO Steering Committee for Consumer Issues, as well as a member of the ACLI CEO Steering Committee on Taxation. He previously served as Chairman of the ACLI Forum 500 Board of Governors and the ACLI Political Action Committee.

Mr. Quaranto holds a bachelor’s degree in administrative science from Colby College and a master’s degree in business administration from Anna Maria College. He is also a Fellow of the LIMRA Leadership Institute.     


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.


Whit Cornman, 202-624-2442
Whit Cornman, 202-624-2442