These are indeed interesting times.
During 2019 the United States experienced a high number of relatively small catastrophe events which financially impacted many of our members. A number of our members also experienced significant fire losses to their homes and property. We are proud that we were able to assist these members in rebuilding and restoring“normalcy” to their lives. Although these events resulted in a bottom line loss for Armed Forces Insurance for 2019, our capital position was unchanged and we remain financially strong.
The COVID-19 event has left our communities with feelings of uncertainty. For our military communities, uncertainty is nothing new. From the unknown of the next PCS or homecoming, our active duty families know uncertainty. The anticipation of the next mobilization is something our Reserve and National Guard families are familiar with. And the memories of uncertain times flood the thoughts of our retirees and veterans.
In uncertain times such as these, people look for those who provide certainty. Armed Forces Insurance is a 133 year old, financially strong, member focused, financial service provider whose exclusive mission remains serving the insurance needs of our Nation’s military personnel. We pride ourselves on taking care of our members, giving them peace of mind. We know that the insurance purchasing decision is an important one and we are uniquely qualified to help you in this process.
I have been honored to serve Armed Forces Insurance as its President and CEO for the past 11 years. This year, I move on to my next phase of life: retirement. I am thrilled to announce that our Board of Directors unanimously voted to appoint Arlen Briggs, our long term Chief Financial Officer, to succeed me as President and CEO, effective March 15, 2020.
Under Arlen’s leadership we have responded well to many challenges presented by the COVID-19 crisis. Our management team and employees have done a phenomenal job in basically converting Armed Forces Insurance into a “virtual” company capable of serving your insurance needs. Our priorities remain the safety and well-being of our employees and members.
Thank you to our Board, each of our employees and you, our members, for allowing me to serve Armed Forces Insurance.
Kurt H. Seelbach
President & CEO