Teresa Rasmussen. Credit: H.B. Fuller
Members of the American Council of Life Insurers have elected a chair who has deep experience with tax law and manufacturing as well as with life insurance and annuities.
Teresa Rasmussen, the Washington-based trade's 2026 chair, is the president and chief executive officer of Thrivent, a Minneapolis-based life, annuity and long-term care insurance provider.
She is also chair of the board of H.B. Fuller, an adhesives manufacturer based in St. Paul, Minnesota, and she has worked as a tax attorney for the federal government.
Rasmussen noted in a comment about her new role that the ACLI board is interested in longevity risk as well as mortality risk.
"We're committed to protecting families and strengthening retirement security for all Americans," Rasmussen said.
What it means: When members of Congress are talking about how to come with new sources of tax revenue, cope with the aging of the American population and making decisions that will affect corporate bonds and real estate, Rasmussen will help shape those conversations.
Her views and relationships could affect everything from regulation of annuity sales to whether Medicare ends up offering LTC benefits.
Teresa Rasmussen: Rasmussen worked as a lawyer at Ameriprise for 15 years, then moved to Thrivent to become its general counsel in 2005. She became its president in 2015 and its CEO in 2018. She joined the H.B. Fuller board in 2020.
Earlier in her career, she was a trial attorney in the tax law division at the U.S. Department of Justice. She has a bachelor's degree in accounting from Minnesota State University at Moorhead and a law degree from the University of North Dakota.
Other top ACLI leaders: Rasmussen succeeds Rich Bielen, the CEO of Protective Life.
The ACLI's new chair-elect is Andrew McMahon, the chairman and CEO of Guardian. The new chair-elect designate is Jasmine Jirele, the president and CEO of Allianz Life. David Chavern continues to serve as the ACLI's CEO.
Teresa Rasmussen, the president and CEO of Thrivent and the chair of H.B. Fuller. Credit: H.B. Fuller
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.