NU Online News Service, April 15, 2:30 p.m. — Washington
Oklahoma Gov. Frank Keating, a Republican, will become the next president of the American Council of Life Insurers.
The Washington-based ACLI says Keating will assume the office in January 2003, when his term as governor expires.
Keating’s appointment as ACLI president had been widely rumored for several weeks
“We are truly fortunate that Frank Keating has agreed to take the helm as ACLI, says Joe Gasper, ACLI’s chairman.
“Frank Keating is a strong leader with rich experience in state government, federal government and executive management,” Gasper says.
Keating says he is flattered that ACLI has put its faith in him to lead the organization.
He says the life insurance industry is dedicated to helping Americans achieve financial and retirement security and that the industry contributes significantly to the American economy.
“So in many ways, I see my new role at ACLI as an extension of my career in public service,” Keating says.
According to Keating’s official biography, the 58-year-old governor is a former special agent for the FBI.
After serving in law enforcement and federal government positions during the Reagan administration and the first Bush administration, Keating was elected governor of Oklahoma in November 1994.
He was reelected in 1998. His biography does not list any specific experience in the life insurance business.
He does cite reform of Oklahoma’s workers’ compensation system as one of his major accomplishments.
In addition, he has twice supported legislation, which was eventually enacted, to cut the state personal income tax rate.
Moreover, the state is now studying ways to completely overhaul the Oklahoma tax system, including a proposal to eliminate the personal income tax.