WASHINGTON – American Councill of Life Insurers (ACLI) President and CEO Susan K. Neely made the following comments on the Microinsurance Network’s Landscape of Microinsurance study that was released today:

“The 2022 Landscape of Microinsurance study demonstrates the important role microinsurance plays in helping people in some of the world’s most economically vulnerable countries access the insurance protection they want and need. The report will help global policymakers and insurers find ways to expand financial inclusion and lift families out of poverty.

“ACLI has long supported the work of the Microinsurance Network because everyone deserves a chance to be financially secure. Insurance is the cornerstone of financial security and too few people in economically vulnerable nations have enough insurance to meet their needs. Microinsurance can help fill this gap. The findings of this study show the tremendous need for expanding global access to microinsurance and the positive difference it will make in people’s lives.”

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.