Frank Keating

  • 1995-2003 - Governor of Oklahoma
  • 2003-2010 - ACLI, American Council of Life Insurers, President
  • 2011-2015 - American Bankers Association, President
  • 2004 0909 - GOV (House) - G.I. Finances: Protecting Those Who Protect Us - [PDF-176p, VIDEO-?]
    • ACLI - Frank Keating - Written Testimony - 6p
    • House - Financial Services Committee - Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
  • 2009 0317 - GOV (Senate) - Perspectives on Modernizing Insurance Regulation, Chris Dodd (D-CT)  ---  [BonkNote]
  • ''Anything that is unethical or inappropriate should not exist, period,'' Mr. Keating said. (the former governor of Oklahoma, who is president of the American Council of Life Insurers)
  • But ''someone who is mature enough to fight and quite possibly die for their country,'' he added, ''should be freely able to decide how much and what kind of life insurance they should have.''

2004 0720 - NYT - Basic Training Doesn't Guard Against Insurance Pitch to G.I.'s, by Diana B. Henriques - [link]

  • 2009 1026 - InsuranceNewsNet - Relieved to Have Survived a Dangerous Year, ACLI Members Look Ahead, By Ron Panko, senior associate editor, Best's Review - [link]
    • The year certainly tested the ACLI leadership.
    • Frank Keating, its president and CEO, related the many actions he and his team took to work with federal officials to provide some level of support for affected life companies.
      • "The thing that concerned us, because we did not have an FDIC behind us, we have a system of guaranty funds in the states, if there were a run on life insurance companies, what would that do to us as an industry?
      • Because we were state-regulated, we were very concerned, if not alarmed, that the Fed, the FDIC, perhaps the SEC, obviously the Treasury Department, might have a high level of ignorance and not appreciate that individual companies within our industry may not be systemic, but we as an industry are."
  • 2001 0112 - WSJ - For Some, Bush Loyalty Is a One-Way Street, By Paul A. Gigot - [link]
    • As for Oklahoma Gov. Keating, he merely campaigned for Mr. Bush in 25 states last fall. His reward was to see personal financial details leaked to the media as the excuse for rejecting him as attorney general.
    • Frank Keating
      • 1995-2003 - Governor of Oklahoma
      • 2003-2010 - ACLI, American Council of Life Insurers, President
      • 2011-2015 - American Bankers Association, President
  • 2003 0215 - The National Journal - Pumping New Life Into the ACLI LOBBYING; Vol. 35, No. 7, by Robert Gettlin - 4p - p78-81
    • FOIA - 2018-0011-P - georgewbushlibrary.gov/s3fs-public/2019-02/t081-026af-554859-20180011p.pdf
    • On top of that, the president's new retirement and lifetime savings plan would further devastate the annuity business. If adopted, the plan would allow an individual to invest up to $7,500 a year in tax-exempt accounts.
      • One advantage of an annuity is that it allows tax-deferred growth of assets, but the tax advantage of an annuity would be unattractive compared to those of tax-free dividends and unrestricted tax-exempt withdrawals from a retirement account.
    • So all of Keating's managerial and persuasive abilities and the strengths of his ties to the Bush team are being tested right away.
    • Recently, Sy Sternberg, chairman and CEO of New York Life Insurance Company, reinforced just how much the ACLI's 400 member companies are counting on the former governor.
      • "He said, 'Frank, you're our guy in Washington. We don't have anyone else,' "Keating said in an interview from an office that enjoys a postcard view of the Capitol.
    • Unlike banks, which rely on the Office of the Comptroller of the Currency and the Federal Reserve Board to look after their interests as well as to regulate, and securities firms, which enjoy a similar relationship with the Securities and Exchange Commission, insurance companies have no federal agency.
      • Insurance is state-regulated, which heightens the role of trade groups like the ACLI.
  • [Long-Term Care]
  • ACLI - “There is a tiny percentage of disgruntled policyholders filing complaints,” said Frank A. Keating, president of the American Council of Life Insurers, an industry trade group. “To the extent that this probe will shine a light on companies that are making mistakes, that will be a positive thing.”

2007 0525 - Tuscaloosa News - Congress Putting Long-Term Care Under Scrutiny, by Charles Duhigg - [link]

  • The badly mistaken belief by some that mark-to-market accounting has no adverse implications for life insurance companies and more recently the cramdown provisions in the proposed bankruptcy legislation that would result, certainly could result in the unwarranted downgrades to life insurers’ AAA-rated residential mortgage-backed securities investments.
  • Those actions were all well intended, but in each instance, they occurred with little or no understanding of their effects on life insurance companies.

--  Frank Keating, ACLI - President and CEO, The American Council of Life Insurers

2009 0317 - GOV (Senate) - Perspectives on Modernizing Insurance Regulation, Chris Dodd (D-CT)  ---  [BonkNote]